Governor Blagojevich is taking at least partial credit for what appears to be a major drop in medical malpractice insurance rates for Illinois Physicians. According to a press release on the State of Illinois website, Medpro is reducing medical malpractice insurance premiums by 32 percent across the state.
Illinois reforms over the past year increased publicly accessible information from insurance companies, including rate-related information and loss and claims-related data. As a result, insurance companies are lowering their premium rates to be competitive with other companies.
While the Governor claims this is leading to increased recruitment and retention of physicians, time will tell if these reforms are in fact meaningful.