In Need of Medical Malpractice Insurance in Illinois?
If you are a physician needing medical malpractice coverage in Illinois, 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.
Illinois Medical Professional Liability Insurance Market Summary
Physicians in Illinois 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 Illinois physicians.
Some of the top-rated medical malpractice insurance companies serving Illinois physicians include:
Malpractice Insurance Rates for Illinois 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 | $40,000 | $80,000 | $48,000 |
| Cardiovascular Disease Minor Surgery | $49,000 | $88,000 | $19,000 |
| Emergency Medicine | $64,000 | $118,000 | $74,800 |
| Family Practice No Surgery | $34,000 | $58,000 | $38,800 |
| Gastroenterology No Surgery | $40,000 | $70,000 | $46,000 |
| General Surgery | $84,000 | $158,000 | $98,800 |
| Internal Medicine No Surgery | $37,000 | $64,000 | $42,400 |
| Neurology No Surgery | $41,000 | $72,000 | $47,200 |
| Obstetrics and Gynecology Major Surgery | $120,000 | $230,000 | $142,000 |
| Occupational Medicine | $25,000 | $40,000 | $28,000 |
| Ophthalmology No Surgery | $27,000 | $44,000 | $30,400 |
| Orthopedic Surgery No Spine | $84,000 | $158,000 | $98,800 |
| Pediatrics No Surgery | $31,000 | $52,000 | $35,200 |
| Psychiatry | $26,000 | $42,000 | $29,200 |
| Radiology – Diagnostic | $41,000 | $72,000 | $47,200 |
*Using the IL standard limits of $1,000,00 Each Claim / $3,00,000 Aggregate per year in coverage. Rates vary by location, as well individual practice profile information.
Physicians in higher-risk specialties may need more coverage. MEDPLI specializes in medical malpractice insurance and tail insurance coverage for Illinois 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 Illinois Physicians
Here is a brief overview of the most common types of medical malpractice insurance for physicians in Illinois:
1. Claims-Made Insurance
Claims-made malpractice insurance provides coverage if the policy is in effect 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 Illinois
In April 2020, Governor JB Pritzker expanded telehealth services in Illinois and launched the Remote Patient Monitoring Program and mental health support line specifically to treat COVID-19 patients. Since then, Illinois physicians’ use of the telemedicine has continued to increase significantly as an accepted and effective way to expand access to patient care. Physicians who want to provide telemedicine services to patients located in Illinois must be licensed by the state of Illinois and must provide the same level of care that they would provide for in-person visits.
The state of Illinois defines telemedicine as “the evaluation, diagnosis, or interpretation of electronically transmitted patient-specific data between a remote location and a licensed health care professional that generates interaction or treatment recommendations.”
Doctors that take care of patients via telehealth are subject to the same liabilities as with in-person treatment. Reach out to a MEDPLI insurance broker to make sure your existing medical malpractice policy extends coverage to perform telehealth services in Illinois.
Medical Malpractice Insurance Outcomes in Illinois
The total malpractice payout in Illinois was $187,720,000 as of 9/30/2023 (Source: National Practitioner Data Bank).
Closing Remarks
Most specialist physicians practicing in Illinois earn more than the national average. However, keep in mind that Illinois does not have caps on the amount a plaintiff can collect in a medical malpractice lawsuit. Illinois physicians need strong medical malpractice insurance.
