OIR Releases Medical Malpractice Report
The Florida Office of Insurance Regulation has released its 2010 annual report on the medical malpractice insurance industry. The Florida legislature requires the OIR to publish this report of medical malpractice financial data each year.
The OIR observes in the report that insurers achieved a return on surplus of 6.6% in 2009, marking their sixth consecutive year of profitability. At the same time, insurers filed rate decreases overing 8-10%, although some specialties did see increases.
The report compares and contrasts financial data for insurers comprising 80% of the Florida market, which included 22 insurers in this year’s report.