The Florida Malpractice Medical Insurance Market Will Remain “Soft” in the Years Ahead

The Florida malpractice medical insurance market remains competitive in 2013. There are several major players in the State of Florida, including The Doctors Company, Medical Protective, Mag Mutual, Florida Doctors Insurance Company and HUG. New carriers entering the state are putting pressure on rates, shrinking Florida malpractice medical insurance company margins. Insurance companies are applying credits: Risk Management, Claims-Free, Society, and Discretionary for larger agents. In addition, some carriers offer loyalty programs to reward its insured physicians for loyalty over the long term.

There has been considerable consolidation of physician offices. Whereas physicians formerly practiced alone or in small groups, they are now joining multispecialty and multistate physician networks. Family Practice physicians and Internal Medicine physicians are being absorbed by hospitals and integrated healthcare operations on a regional basis. This reduction in supply puts further pressure on Florida malpractice medical insurance rates.

The Florida malpractice medical insurance market has traditionally been quite volatile. With a decline in claims frequency and the passage of tort reform laws in Florida, it is now deemed to be “soft”, meaning that premiums are down from highs in the early 2000’s. The Florida malpractice medical insurance landscape will probably remain “soft”, at least through 2016, according to industry sources.

John Gracey Backer, CPA
John Gracey Backer, CPA

John Gracey Backer, CPA, is the Treasurer of Gracey-Backer, Inc., an Insurance Agency in Delray Beach, Florida specializing in All Lines of Malpractice, Professional and Personal Insurance for the Healthcare Provider. He can be contacted at (561) 404-5828, or at

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