Report: Fla. medical malpractice rates fall in 2008

Legislation passed in 2003 to stem the rising tide of malpractice insurance premiums appears to be working.

A new report by the Florida Office of Insurance Regulation finds a net decline of 10 percent for all approved medical malpractice rates in Florida. That’s the fifth year in a row that the cost of medical malpractice insurance has fallen.

There were 3,336 closed claims in 2008, which paid an estimated $700 million, according to an analysis of the closed claims data submitted to the OIR’s Professional Liability Closed Claims Reporting system.