Since the enactment of House Bill 4 in the 2003 Texas Legislature and the voters' approval of Proposition 12, every professional liability insurance underwriter in Texas has reduced its premiums for physicians.
The chart below compares the average premiums for physicians in various specialties and various parts of the state as charged by Texas Medical Liability Trust (TMLT) the largest carrier in Texas, for three years: 1999, at the start of the health care liability crisis; 2003, at the height of the crisis; and 2008, in the first full year post-reform. TMLT declares its fifth rate cut and third dividends on the eve of the five-year anniversary of the passage of Prop. 12. The latest is a $35 million dividend and a 6.5-percent rate cut. TMLT policies are available only to TMA members.
Source: Texas Medical Liability Trust