The largest malpractice carrier in Texas says it will carry out a promise to cut premiums by 12%, following Texas voters' approval Saturday of a constitutional amendment to allow a $250,000 cap on noneconomic damages in physicians' malpractice lawsuits.
The Texas Medical Liability Trust, a doctor-owned company that controls 42% of the market, will apply the same reduction to every specialty at every location in the state for any policy that is started or renewed after Jan. 1, says Dana Leidig, spokesperson for the Austin-based company.
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