Why South Carolina Physicians Keep Returning to My Medical Malpractice Insurance:
- We’ll provide you with various Medical Malpractice Insurance quotes from the leading Medical Liability Insurers in South Carolina.
- We’ll provide you with all the physician discounts for which you’re eligible, such as Risk Management, New to Practice and Claims-free.
- We’ll include Prior Acts Coverage, making the purchase of separate tail coverage unnecessary.
- Our veteran liability specialists customize your policy to fit your needs, not the carrier’s.
- We provide our free Practice Tools to our clients, including Online Patient Satisfaction Survey System, our on-staff Certified Professional Healthcare Risk Manager (CPHRM) and many other tools to help you manage your practice easily and efficiently.
- We've joined the Medical Liability Monitor -- the nation's leading independent source of Medical Liability Insurance news as well as the political, legal and risk management issues that affect the healthcare industry --in publishing historical rate data for every city in the Palmetto State. This data will provide you with valuable insights into South Carolina's data trends when you’re making your decisions on your medical malpractice insurance carrier and coverage. That’s just one of several reasons that MyMedicalMalpracticeInsurance.com has become the favored online site for South Carolina physicians and medical groups looking for new ways to protect their practices while paying lower medical malpractice insurance rates.
- We can help you lower the costs of your Medical Malpractice Insurance in South Carolina - click and request your free quote.
South Carolina Medical Malpractice Insurance
Medical malpractice insurance premiums are moderate in South Carolina. In fact, they are amongst the most affordable in the Southeast region of the United States. In nearby Florida, obstetricians can pay in excess of $200,000 a year for $1 million/$3 million in malpractice insurance coverage; in South Carolina, they pay less than a quarter of that amount.
Many experts attribute South Carolina’s enviable medical liability insurance climate to the state’s patient compensation fund (PCF). One of only eight states with a PCF, the South Carolina Medical Malpractice Patient Compensation Fund was created by the general assembly in 1976 for the purpose of providing medical malpractice coverage in excess of a physician’s primary insurance coverage. The PCF charges an annual “membership fee” and requires a physician to carry a minimum coverage of $200,000 per claim and $600,000 annual aggregate of all claims. Any verdict in excess of the underlying, primary coverage is paid by the PCF. In effect, the PCF pools and minimizes its members’ risk of a jackpot verdict, keeping their insurance premiums to a minimum.
While medical malpractice insurance has always been relatively inexpensive in South Carolina, at the start of the last decade, premiums across the started to increase at a staggering, and South Carolina was no exception. Rates for physicians practicing internal medicine in South Carolina increased from almost $1,000 annually in 2000 to slightly more than $10,000 annually in 2005. Regardless of actual cost, an insurance expense that grows 900 percent in five-year’s time will wreak havoc on any physician’s business model.
In response to the very real potential for climbing malpractice insurance rates to squeeze South Carolinians access to healthcare, the general assembly and then-Gov. Mark Sanford made a legislative push to address the state’s liability issues. The resulting South Carolina Medical Malpractice & Patient Safety Reform Act was a comprehensive approach to narrowing the scope of medical liability.
Prior to the Medical Malpractice & Patient Safety Reform Act, the American Tort Reform Federation (ATRF) rated Hampton County South Carolina the third-worst “Judicial Hellhole” and the state was one of only 10 not to have reformed its doctrine of joint and several liability. In response, the pro-reform group South Carolinians for Tort Reform teamed with the South Carolina Medical Association (SCMA) to craft a message that would influence popular support for lawsuit reform.
As a strategic tactic, the ATRF and SCMA pushed their tort reform proposal in two parts—House Bill 3008 (HB3008) and Senate Bill 83 (SB83). HB3008 dealt with tort reform in a broader sense; SB83 pertained directly to medical liability reform.
HB3008 addressed the following points of general liability:
- Joint and Several Liability. HB3008 provides a 50-percent threshold on joint and several liability in tort actions. In other words, a defendant has to be at least 50 percent at fault to be required to pay 100 percent of the accrued damages. A defendant less than 50 percent at fault is only required to pay his or her percentage of liability.
- Venue Reform. Under HB3008, lawsuits can only be filed in the county in which the most substantial part of the action arose or the defendant’s principal place of business.
- Statute of Repose Reform. HB3008 reduced South Carolina’s statute of repose from 13 years to 8 years. A statute of repose is similar to a statute of limitations, but there are a number of factors that differentiate the two. With a statute of limitation, there may be other factors that can extend the deadline, i.e. discovering a recently diagnosed medical condition is the result of a defective product that was ingested several years ago. Hence, the product liability statute of limitation deadline would be amended due to the late discovery of the cause of the injury. With a statue of repose, opportunities to extend or alter a deadline are limited and timeframes for bringing action must be strictly adhered to.
- Discouraging Frivolous Lawsuits. HB3008 allows for sanctioning of lawyers and parties filing frivolous claims. Sanctions can include reporting lawyers to the Commission on Lawyers Conduct, and the bill requires the Supreme Court to keep a public record of frivolous sanctions.
While the tort reforms in HB3008 definitely apply to medical malpractice cases, SB83 went further by specifically addressing the following points of medical liability:
- SB83 created a $350,000 cap on non-economic damages in medical malpractice cases; the non-economic damage cap is set at $1.05 for multi-defendant lawsuits.
- SB83 requires a plaintiff in a medical malpractice case to file a notice of intent to sue, and both parties must participate in mandatory mediation. If a resolution cannot be reached at the conclusion of mediation, the claim can be filed in the court system.
- SB83 requires any expert testimony that is delivered in “bad faith” be reported to professional licensing agencies.
- SB83 protects emergency room physicians from liability for medical malpractice unless there is evidence that the doctor acted in a manner that was grossly negligent. The bill offers similar protections to obstetricians when providing emergency care unless the doctor acted in a manner that was grossly negligent.
While the effects of tort reform often take years, if not decades, to fully materialize, physicians’ malpractice insurance premiums have experienced a 16-percent decline in South Carolina since the passage of the state’s Medical Malpractice & Patient Safety Reform Act in 2005. With premiums deflating, it is imperative to a physician’s business success that he or she work with an experienced medical malpractice insurance broker with access to all the state’s major insurance providers. During periods where insurance premiums are shrinking, insurance companies are willing to compete for business. Only a broker with access to all the companies can get them to bid against each other and compete for your business. This is the best way to ensure you are getting the best policy at the best rate.
Click to request your free South Carolina Medical Malpractice Insurance Quote.
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SOUTH CAROLINA
Physician Medical Malpractice Insurance Rates
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
| 2000 |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $980 + 7.0% |
$4,266 + 7.0% |
$5,083 + 7.0% |
| (State Joint Underwriting Association provides primary coverage of $100,00/$300,000, the limits for the premiums shown. A State Patient Compensation Fund is available to providers who carry the required $100,000/$300,000 limits. Recent legislation will increase these limits to $200,000/600,000) | ||
| 2001 |  |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $1.593
+ PFC - $2,523 + 62.5% +91% PFC |
$6,935
+ PFC - $9,276 + 62.5% +91% PFC |
$8,263
+ PFC - $12,368 + 62.5% +91% PFC |
| A state Joint Underwriting Association provides primary Occurrence coverage of $200,000/$600,000. Limits increase from $100,000/$300,0000 in 2000. Two rate increases, one necessitated by the increased limits, resulted in a total increase of 62.5%. A state Patient Compensation Fund provides unlimited coverage to providers who carry the required JUA limits of $200,000/$600,000. Its membership fees have increased 91% | ||
| 2002 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $1,593
+ $2,523 PFC = $4,116 + 39.6% |
$6,935
+ $9,276 PFC = $16,211 + 31.6% |
$8,263
+ $12,368 = $20,362 + 41.8% |
| A state Joint Underwriting Association provides primary Occurrence coverage of $200,000/$600,000. A state Patient Compensation Fund provides unlimited coverage to providers who carry the required JUA limits of $200,000/$600,000. | ||
| 2003 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $3,590
+ $3,572 PFC = $7,162 + 25.0% |
$14,225
+ $16,072 PFC = $30,297 + 42.0% |
$18,846
+ $18,751 = $37,597 + 30.0% |
| The SC JUA provides $200,000/$600,000 limits and unlimited excess limits coverage. Coverage is provided on an Occurrence basis. | ||
| 2004 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $4,641
+ $4,453 PFC = $9,094 + 27.0% |
$20,883
+ $20,037 PFC = $40,950 + 35.2% |
$24,363
+ $23,376 = $47,739 + 27.0% |
| The SC JUA provides $200,000/$600,000 limits and unlimited excess limits coverage. Coverage is provided on an Occurrence basis. | ||
| 2005 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $11,007 N/A |
$34,325 N/A |
$45,207 N/A |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $5,230
+ $5,344 PFC = $10,574 + 16.3% |
$23,535
+ $24,044 PFC = $47,579 + 16.2% |
$27,457
+ $28,051 = $55,508 + 16.3% |
| The SC JUA provides $200,000/$600,000 limits and unlimited excess limits coverage. Coverage is provided on an Occurrence basis | ||
| 2006 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $12,785 + 16.2% |
$46,943 + 36.8% |
$46,943 + 3.8% |
| 2007 | |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $10,457 - 18.2% |
$32,609 - 30.5% |
$42,948 - 8.5% |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $6,142 + $2,977 PCF = $9,119 + 8.9% |
$26,919 + 13,396 PCF = $40,315 + 9.5% |
$32,247 + $15,628 PCF = $47,875 + 8.9% |
| The South Carolina Joint Underwriting Association provides $200K/$600K primary limits and unlimited excess coverage. Coverage is provided on an Occurrence basis. The surcharge is for the state Patient Compensation Fund. | ||
| 2008 | |
| INTERNAL MEDICINE | GENERAL SURGERY | OB/GYN |
|---|---|---|
| $11,221 | $44,919 | $44,919 |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $6,142 + $3,112 PCF = $9,254 + 1.0% |
$26,919 + 14,364 PCF = $41,283 + 2.0% |
$32,247 + $16,918 PCF = $49,165 + 2.0% |
| 2009 | |
| INTERNAL MEDICINE | GENERAL SURGERY | OB/GYN |
|---|---|---|
| $11,221 0% |
$44,919 0% |
$44,919 0% |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $6,291 0% |
$28,281 0% |
$32,262 0% |
| INTERNAL MEDICINE (% change since last survey) |
GENERAL SURGERY (% change since last survey) |
OB/GYN (% change since last survey) |
|---|---|---|
| $11,355 0% |
$37,847 0% |
$53,743 0% |
To find the most current medical malpractice insurance rates in South Carolina, contact Mike Matray at the Medical Liability Monitor. MyMedicalMalpracticeInsurance.com has negotiated an excellent rate for all of our users, mention our site, and you can receive the Medical Liability Monitor at a low promotional price.
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