| On Monday Department of Insurance Director Ann Womer Benjamin announced that three of the five largest medical malpractice insurers in Ohio have decreased rates by an average of 1.5 percent in 2006. The other two insurers are expected to file rate changes with the Department later this year. “Curative measures taken the last few years by the Ohio Department of Insurance and the Ohio Legislature to stabilize Ohio’s medical liability insurance rates have provided positive results,” Director Womer Benjamin said. “We continue to closely monitor the market and scrutinize rates to ensure Ohio’s health care delivery system remains functional.” This year’s combined rate decrease follows an average increase of 6.7 percent in 2005. These follow rate increases of 20 percent in 2004 and about 30 percent in each of 2002 and 2003. Medical Protective Company became the first major medical malpractice insurer to lower its rates in Ohio in the last six years after the Department accepted its 5 percent decrease. The Medical Assurance Company continued a four-year trend of lower rate increases with a rate revision averaging zero percent for its policyholders. The OHIC Insurance Company increased its rates by only 2.3 percent after six years of double digit increases.
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