Texas Medical Malpractice Insurance

Texas Medical Malpractice Insurance Coverage

Coverage Requirements

In the State of Texas, medical malpractice insurance coverage is not required by law for physicians. That said, most hospitals/organizations and health insurance companies that physicians work with require them to have coverage.  And, most physicians in the state also choose to get coverage so they do not run the risk of having to pay for a medical malpractice insurance claim (and possibly an award) out-of-pocket nor risk having to navigate the process alone, without an advocate. 

The typical minimum limits of coverage are $200,000/$600,000.  This means that healthcare providers purchase medical malpractice insurance with coverage up to $200,000 per claim, and $600,000 aggregate.  “Aggregate” means that the policy will pay out up to a total of $600,000 in one policy year. 

What is the Med Mal Climate Like in Texas?

Texas was one of the earliest states to enact tort reform and some caps were placed on noneconomic damages for individual providers and hospitals/facilities, which is beneficial to providers and their practices. 

What Kind of Coverage is Available in Texas?

Texas has both Claims-Made and Occurrence-type coverage policies available. 

Who Can We Get You Malpractice Insurance Coverage with in the State of Texas?

At Nexus, we have access to all of the major carriers in Texas, including surplus lines/non-admitted carriers.   

Cost of Malpractice Insurance

Due to Texas’ cap on non-economic damages mentioned above, Texas is one of the lowest cost states in the US, from a medical malpractice insurance perspective.  This is due to the fact that Texas is one of the original states to enact tort reform.  Of all of the counties in Texas, one of the most expensive is Harris County, home to Houston.     

In general, rates in Texas for a first year, claims-made medical malpractice insurance policy, for an Internal Medicine physician who is claim free, can range from $2,000-$3,800/year. 

How to Lower the Cost of Your Medical Malpractice Insurance Coverage

It is important to know that discounts are often available, depending on the insurance company, for being New-to-Practice, Claim Free, and/or having recently completed qualifying risk management CMEs, among others. Don’t hesitate to ask your agent to make sure that you get all of the discounts for which you might qualify. 

How Can We Help You and Why Should You Choose Us?

Founded in 2004, Nexus Insurance Services (NIS) is a medical malpractice insurance broker.  As a broker, we can shop the market for you.  With one application, we can reach out to multiple insurance companies simultaneously, to provide you with a wide variety of options to get you the most competitive pricing.  And, we specialize in med mal insurance –whether you are an individual needing coverage, or you own a large practice/facility, we have the experience and relationships to get you covered. 

Finally, if you do own a practice, we can also provide your general liability and cyber liability coverage, too. 

Do you need coverage in Texas?  If so, click here to request a free quote. 

Additional Resources:

Glossary

Texas Department of Insurance

Texas Medical Society