September 12, 2006
Contact: Dana Leidig
Vice President, Communications and Advertising
512-425-5934 dana-leidig@tmlt.org
Contact:
Laura Brockway 512-425-5936 laura-brockway@tmlt.org
Manager Communications & Advertising
TMLT declares 20% dividend and 7.5% rate reduction for 2007
September 12, 2006 — The Board of Governors of Texas Medical Liability Trust (TMLT) has declared a 20% dividend amounting to approximately $35 million for 2006 effective January 1, 2007 for renewing TMLT policyholders. Dividends will be credited to each policyholder's premium as a lump sum when his or her policy renews in 2007.
In addition, the Trust will be reducing rates 7.5% for all specialties across the state beginning January 1, 2007. Current TMLT policyholders will receive this rate decrease when their policy renews.
TMLT has now reduced annual rates four times since the passage of House Bill 4 and Proposition
12 — 12% in 2004; 5% in 2005; 5% in 2006; and now 7.5% in 2007, a total of 29.5% in four years. By the end of 2007, TMLT's rate reductions since 2004 will amount to nearly $139 million, and returned dividends of 25% will amount to nearly $45 million. Since the passage of Prop 12 and medical liability reform of 2003, TMLT policyholders will have realized cumulative savings of more than $180 million.
Non-meritorious claims intake is down as a result of the medical liability reform achievements in 2003. TMLT believes the legal environment will continue to improve as long as 2003 tort reform measures remain in effect.
Because of TMLT's recent earnings and strong surplus position, physician policyholders can share in the organization's success in the form of rate reductions and dividends.
TMLT is the state's largest medical liability insurance provider, serving approximately 50 percent of active practice Texas Medical Association (TMA) member physicians — or nearly 13,800 Texas doctors. A physician must be a member of the TMA to apply for coverage with TMLT.
The Trust is not-for-profit and is physician-owned. TMLT is endorsed by the Texas Medical Association as well as a number of county and specialty medical societies. TMLT is headquartered in Austin, Texas.
August 8, 2006
Contact:
Laura Brockway 512-425-5936 laura-brockway@tmlt.org
Manager Communications & Advertising
Dana Leidig 512-425-5934 dana-leidig@tmlt.org
Vice President Communications & Advertising
TMLT awards eight scholarships
Austin, TX — Texas Medical Liability Trust (TMLT) is proud to announce the winners of the 2006 TMLT Memorial Scholarships.
- D'Andrea Michelle Anders is a fourth-year medical student at the University of Texas Medical Branch at Galveston.
- John Spencer Chiara is a third-year medical student at Texas Tech University Health Science Center School of Medicine.
- Jessica Dalby is a third-year medical student at Baylor College of Medicine.
- Tara Hagopian is a third-year medical student at the University of North Texas Health Science Center's Texas College of Osteopathic Medicine.
- Chad D. Housewright is a fourth-year medical student at Texas A&M University System Health Science Center College of Medicine.
- Eric Jon Larsen is a fourth-year medical student at University of Texas Medical School at Houston.
- Joshua Delbert Mitchell is a third-year medical student at the University of Texas Southwestern Medical School.
- Stephanie Watson is a third-year medical student at University of Texas Medical School at San Antonio.
The $5,000 scholarships were awarded to one student at each Texas medical school. Scholarship recipients were chosen based on each student's academic achievement, financial need, and written essay. Winning essays will be published on the TMLT web site (www.tmlt.org) and in TMLT's bimonthly newsletter, the Reporter.
The TMLT Memorial Scholarships were created to recognize academically gifted Texas medical students who are interested in finding creative ways to enhance patient safety and who can communicate their ideas in a short essay.
"This year we selected recipients from among 48 applicants and all who applied demonstrated exemplary achievement," says Dr. Dennis Factor, chairman of the TMLT Board of Governors. "The essays revealed that Texas medical students have given considerable thought to how they will address patient safety when they practice medicine," says Factor.
About TMLT
Texas Medical Liability Trust is a physician-owned, health care liability claim trust offering medical liability insurance products to Texas physicians. Created in 1979 by Texas Medical Association, TMLT currently protects more than 14,000 physicians in all specialties practicing in all areas of the state.
