Tort Reform
SB436 Medical Malpractice Insurance - Rates and Rate Filings
This bill mandates that regarding to medical malpractice insurance rates, consideration should be given to total investment income. A medical malpractice rate is considered excessive if the rate does not reflect the total investment income that the insurer reasonably can be expected to earn on all its assets during the period of time the rate will be in effect; or the rate for any other reason is unreasonably high for the insurance coverage provided.
Effective Date: October 1, 2004
For more information, please contact: Heather Woods Barthel
SB438 Medical Malpractice Insurance - Excessive Rates
This bill mandates that a medical malpractice insurance rate is excessive if the rate does not reflect all dividends, rate credits, and any other form or type of refund or credit that the insurer has issued, or reasonably may be expected to issue during the period of time the rate is in effect; or the rate for any other reason is unreasonably high for the insurance coverage provided.
Effective Date: October 1, 2004
For more information, please contact: Heather Woods Barthel
SB544 Medical Malpractice Reform - Tax Credit for Malpractice Insurance
An individual or corporation may claim a credit against the state income tax if the amount of medical malpractice insurance premiums paid by the individual or corporation for a licensed physician in the state exceeds 14% of the amount
of gross income attributable to the medical practice of the licensed physician. They may claim credit in the following amounts:
(1) 50% of the amount of medical malpractice premiums paid that is more than 14% but less than or equal to 16% of gross income; and
(2) 100% of the amount of medical malpractice premiums paid that exceeds 16% of gross income.
The credit may not be claimed if the licensed physician has paid a malpractice claim within the previous 5 years.
Effective Date: July 1, 2004
For more information, please contact: Heather Woods Barthel
SB545 Medical Malpractice Insurance - Base Rates
If an insurer charges different rates for different medical specialties or combinations of medical specialties, the base rate paid by the highest-rated medical specialty or combination of medical specialties may not be greater than 600% of the base rate paid by the lowest-rated medical specialty or combination of medical specialties.
Effective Date: October 1, 2004
For more information, please contact: Heather Woods Barthel
SB708 Medical Malpractice Insurance - Policies with Deductibles
Each insurer that offers medical malpractice insurance policies in the state shall offer, in addition to a basic policy, policies with deductibles in the amounts of $10,000, $25,000, and $50,000. The bill also requires the Maryland Insurance Administration to report to the Senate Finance Committee and the House Economic Matters Committee on or before November 30, 2006 on the effectiveness of this policy.
Effective Date: October 1, 2004
For more information, please contact: Heather Woods Barthel
[ Go to Bills Introduced]