Jacksonville, Florida

First Professionals Insurance Company
 

DCMS Endorsed FPIC Files for 8% Base Rate Decrease

First Professionals Insurance Company (First Professionals) recently filed for a rate decrease effective December 1, 2006.  Most Florida physicians insured by FPIC will see an 8 percent decrease in medical malpractice premiums, yet about 900 physicians in some specialties will see even larger decreases ranging from 14.2 to 19.5 % because of changes in their specialty relativities.

Three reasons are attributed to the decrease including:  FPIC's strict underwriting guidelines, excellence in handling claims, and the positive impact of Amendment 3 on loss frequency. Fewer claims are being presented against physicians since the passage of the amendment.

“This is a result of the successful efforts by Florida’s organized medicine groups to pass Amendment 3 in November 2004,” First Professionals President, Robert E. (Bob) White, Jr. said at the recent FMA annual meeting. “Amendment 3 is the reason we are in a position to reduce rates and provide some relief from the medical liability crisis.”

The Florida Medical Association, DCMS, and county and specialty medical groups invested $7.5 million to make that happen in 2004. Nearly two years after Florida voters passed Amendment 3, “The Medical Liability Claimant’s Compensation Amendment,” losses among First Professionals’ policyholders have continued to decrease. White attributes that to Amendment 3, which placed a limit on attorneys’ contingency fees in medical malpractice cases. This rate decrease represents a significant return on that investment to Florida physicians. Based on 2005 written premiums, if every insurer in Florida made a similar rate adjustment, Florida physicians would save $50 million per year.

“We salute the doctors of Florida for their vision and fortitude in fighting the good fight having recognized that the 2003 tort reform legislation did not provide an adequate solution for the doctors of Florida and their patients,” said White.

For 30 years FPIC has been dedicated to Florida physicians.  In recent years, under the leadership of President Bob White, they have worked with organized medicine in our effort to achieve tort reform.  The DCMS endorsed FPIC in the fall of 2005 and is excited to have this news strengthen the relationship even more.  Duval County Medical Society members are offered a 5 percent premium discount.  To investigate how your practice may benefit by a relationship with FPIC, please contact Jay Millson, EVP (jmillson@dcmsonline.org) or Ms. Angie Nykamp (angie.nykamp@fpic.com), FPIC Director of Society Relations, at 360-3071. 

What's New · Northeast Florida Medicine Journal · Know Your Physician · Legal & Legislative
· DCMS Alliance · DCMS Foundation · Member Websites · Community Health
About the DCMS · Meetings Calendar · Member Benefits · Employment Connection · Home

Duval County Medical Society   ·   555 Bishopgate Lane  ·   Jacksonville, FL  32204
Phone: (904) 355-6561   ·     FAX:  (904) 353-5848   
General Email: dcms@dcmsonline.org    ·   Webmaster's Email: mdoran@dcmsonline.org
Privacy Policy and Disclaimers