In Need of Medical Malpractice Insurance in Florida?
If you are a physician needing medical malpractice coverage in Florida, MEDPLI will work for you as your only trusted broker.
Use the information in this 2024 Buying Guide to get ready to discuss your medical malpractice insurance needs with a MEDPLI insurance broker. Get a quote.
Florida Medical Professional Liability Insurance Market Summary
Physicians in Florida have many options for obtaining medical malpractice insurance, but we recommend carriers rated “A” by A.M. Best because of their long-term financial solvency and a history of providing robust financial and legal support for Florida physicians.
Some of the top-rated medical malpractice insurance companies serving Florida physicians include:
Malpractice Insurance Rates for Floridian Doctors
Carriers typically consider practice location, surgical specialty, and past claims history when setting rates. Each medical malpractice insurance policy is underwritten individually, but the following rates are estimates to give you an idea of costs by specialty.
| Specialty | Approximate Claims Made Rate | Approximate Tail Rate | Approximate Occurrence Rate |
|---|---|---|---|
| Anesthesiology | $20,000 | $40,000 | $25,000 |
| Cardiovascular Disease Minor Surgery | $26,000 | $52,000 | $31,200 |
| Dermatology No Surgery | $10,000 | $20,000 | $12,000 |
| Emergency Medicine | $33,000 | $66,000 | $39,600 |
| Family Practice No Surgery | $16,000 | $32,000 | $19,200 |
| General Surgery | $61,000 | $122,000 | $73,200 |
| Internal Medicine No Surgery | $17,000 | $34,000 | $20,400 |
| Obstetrics and Gynecology Major Surgery | $77,000 | $154,000 | $92,400 |
| Occupational Medicine | $11,000 | $22,000 | $13,200 |
| Ophthalmology Major Surgery | $19,000 | $38,000 | $22,800 |
| Orthopedic Surgery No Spine | $43,000 | $86,000 | $51,600 |
| Pathology No Surgery | $16,000 | $32,000 | $19,200 |
| Pediatrics No Surgery | $15,000 | $30,000 | $18,000 |
| Psychiatry | $11,000 | $22,000 | $13,200 |
| Radiology – Diagnostic | $25,000 | $50,000 | $30,000 |
*Using the FL standard limits of $250,000 Each Claim / $750,000 Aggregate per year in coverage.
Rates for medical malpractice insurance in Florida are slightly higher than the national average and vary by location. Physicians in higher-risk specialties may need more coverage. MEDPLI specializes in medical malpractice insurance and tail insurance coverage for Florida physicians, so don’t hesitate to reach out for a personalized quote based on your unique needs. Get a quote.
Types of Professional Liability Insurance for Florida Physicians
Here is a brief overview of the most common types of medical malpractice insurance for physicians in Florida:
1. Claims Made Insurance
Claims-made malpractice insurance provides coverage if the policy is in effect both when the incident took place AND when the claim is filed. If a claim is filed after the end of the policy date, the claim is NOT covered. With a claims-made policy you need tail malpractice insurance, which is a separately purchased insurance policy or endorsement, to make sure you have full protection. Learn more about claims-made insurance here.
2. Occurrence Insurance
Occurrence malpractice insurance provides coverage for incidents that occurred during the policy year, regardless of when a claim is reported to the carrier. Occurrence policies are more costly at the start of the policy, but the rate stays the same for the length of the policy, and there is no need for tail coverage when the policy ends. Read more about occurrence insurance.
3. Tail Insurance
Since most malpractice insurance policies are underwritten on a claims-made basis, you will be exposed to a lawsuit if a former patient files a claim against you and you do not secure tail coverage. When you are preparing to leave your employer, you should seek tail coverage options with an independent broker like MEDPLI. Tail insurance covers you for a specific time period. The new employer’s policy is not going to cover you for prior acts of a former practice, hence tail coverage is needed. Read more about tail malpractice insurance for physicians.
Reach out to an experienced MEDPLI insurance broker who will work for you to find a tail policy at a great price.
Telemedicine in Florida
The COVID-19 pandemic has created a higher demand for telemedicine in Florida.
Reach out to a MEDPLI insurance broker to make sure your existing medical malpractice policy extends coverage to perform telehealth services in Florida.
Tort Reform in Florida
On Friday, March 24, 2023, Gov. Ron DeSantis signed into law HB 837: Civil Remedies. The tort reforms in this bill focus mainly on statutes of limitations, comparative negligence, and the admissibility of medical bills at trial.
The new law enacts a modified comparative negligence approach in medical malpractice lawsuits that prevents the plaintiff from recovering damages from the defendant if a jury finds that the plaintiff is more than 50% at fault for their own injury or harm. Also, the admissibility of medical bills at trial allows for admissible evidence to prove that the plaintiff’s damages more closely reflect actual amounts paid or allowed for medical services received. (See below for details of changes to Florida’s statutes of limitations.)
Florida’s Damage Caps on Medical Malpractice Lawsuits
In Florida there is no limit on the amount of compensation a plaintiff can recover for past and future economic damages, such as medical care necessitated by the malpractice, lost income, lost future earning capacity, and any other measurable economic losses attributable to the defendant’s malpractice.
Previously, Florida statutes allowed a $500,000 cap on non-economic damages (which included compensation for “pain and suffering”) and a $1,000,000 cap on non-economic damages if the malpractice resulted in death or a vegetative state, but these statutes were struck down as unconstitutional in 2017
Closing Remarks
However, Florida is among the top three U.S. states with the most medical malpractice payouts on record, totaling nearly $10.6 billion over the last 20 years, according to the National Practitioner Data Bank. Obtaining strong medical malpractice insurance is still the best way to protect you and your practice in Florida from personal financial loss in the event of a lawsuit.
