The Maryland Insurance Administration has released its “2015 Report on Availability and Affordability of Health Care Medical Professional Liability Insurance in Maryland,” which states that the number of companies offering medical malpractice insurance in Maryland has remained relatively stable but highly concentrated. In 2014, two insurer groups wrote just over 60 percent of all premiums. Overall, insurance premiums increased significantly between 2002 and 2005, and then decreased or remained the same through 2014.
Exhibit D shows rates for psychiatrists in three geographic areas. Although there were significant differences in the rates charged by various companies, most companies did not change their premiums over the past four years.