Virginia: Medical Malpractice Insurance Requirements for 2020
Virginia state law does not require practicing physicians to be covered by medical malpractice insurance. However, many Virginia-based hospitals, outpatient surgical facilities, and health care centers require providers, as a condition of credentialing, to carry malpractice insurance with liability limits that match or exceed the cap on damages. Virginia’s cap on medical malpractice damages increases every year; for 2020, the liability cap per injury is set at $2,450,000 and will reach $2,950,000 by 2030.
Typical elected insurance minimums are $1,000,000 per occurrence and $3,000,000 per policy year. If your specialty is high-risk, such as it is for surgeons and OB/GYNs, higher coverage amounts are usually preferred.
Virginia: Medical Malpractice Insurance Outcomes for 2019
The total medical malpractice payout in Virginia for 2019 was $31,474,350.
TOTAL PAYOUT VS. OUTCOME
TYPE OF INJURY
PAYOUTS BY PATIENT TYPE
PAYOUTS BY PATIENT GENDER
VIRGINIA MEDICAL MALPRACTICE INSURANCE RATES BY SPECIALTY
|Specialty||Approximate Rate||Minimum Rate||Maximum Rate|
|Cardiovascular Disease Minor Surgery||$17,000||$12,000||$24,000|
|Family Practice No Surgery||$12,000||$8,000||$18,000|
|Gastroenterology No Surgery||$14,000||$10,000||$18,000|
|General Practice No Surgery||$12,000||$8,000||$18,000|
|Internal Medicine No Surgery||$13,000||$9,000||$18,000|
|Obstetrics and Gynecology Major Surgery||$58,000||$32,000||$86,000|
|Ophthalmology No Surgery||$8,000||$5,000||$14,000|
|Orthopedic Surgery No Spine||$32,000||$19,000||$43,000|
|Pediatrics No Surgery||$12,000||$8,000||$18,000|
|Radiology – Diagnostic||$15,000||$10,000||$22,000|
*State filed rates from 2016
We help doctors all across Virginia – OB/GYNs in Richmond, cardiologists in Norfolk, surgeons in Charlottesville, and more. If you’re a Virginia-based doctor in need of medical malpractice insurance, request a quote today.
MEDPLI offers tail insurance, group coverage, private practice malpractice coverage, and more. See our Products & Services page to find out how we can help you.