September 3, 2008
Contact:
Dana Leidig 512-425-5934 dana-leidig@tmlt.org
Vice President Communications & Advertising
Laura Brockway 512-425-5936 laura-brockway@tmlt.org
Manager Communications & Advertising
TMLT reduces rates for sixth consecutive year following Texas tort reform
AUSTIN, TEXAS... The Board of Governors of Texas Medical Liability Trust (TMLT) has approved an average 4.7% rate reduction for TMLT-insured physicians and a 22.5% dividend for renewing policyholders, effective January 1, 2009.
"TMLT has now reduced rates for Texas physicians six consecutive years since the passage of House Bill 4 and Proposition 12 in 2003," said Bob Fields, president and CEO of TMLT. For the first five years, rates were reduced across the board for all specialties: 12% in 2004; 5% in 2005; 5% in 2006; 7.5% in 2007; 6.5% in 2008. For 2009, all specialties will receive a rate decrease but the reduction will vary by specialty and territory with an average decrease of 4.7%. According to Fields, the cumulative premium savings realized by policyholders will exceed $275 million since January 2004.
"This is the fourth consecutive year the Trust has announced a policyholder dividend," said Fields. "The 22.5% dividend is the largest percentage dividend in the Trust's history. Since the first dividend was declared in 2005, renewing TMLT policyholders will have received dividend credits off renewal premiums amounting to approximately $105 million."
Since the passage of medical liability reform, TMLT insured physicians will have saved $380 million in decreased premiums, once this latest round of rate cuts and dividends is implemented.
Effective tort reform has continued to reduce non-meritorious litigation against physicians. As long as 2003 tort reform measures remain in place, TMLT believes the legal environment will remain stable. TMLT's current strong financial position makes these rate reductions and dividends possible; however, there is no guarantee that the business and legal climate will support future rate reductions or dividends. The TMLT Governing Board, executive management, and financial consultants to the Trust determine rate reductions and dividend considerations annually.
TMLT is the state's largest medical liability insurance provider, serving over 14,500 Texas Medical Association (TMA) member physicians.
TMLT is a not-for-profit health care liability claim trust created and endorsed by TMA and owned by its physician policyholders. The Trust is headquartered in Austin, Texas. For more information about TMLT, go to www.tmlt.org.
August 18, 2008
Contact: Laura Brockway
Manager, Communications and Advertising
(512) 425-5936, laura-brockway@tmlt.org
TMLT awards eight medical school scholarships
Austin, TX — Texas Medical Liability Trust (TMLT) is proud to announce the winners of the 2008 TMLT Memorial Scholarships.
- Alexander J. Alvarez is a third-year medical student at the University of Texas Southwestern Medical School.
- Megan Gentry is a third-year medical student at the University of Texas Health Science Center at San Antonio.
- Douglas James Heiner is a third-year medical student at the University of Texas Medical Branch at Galveston.
- Michael Merrick is a fourth-year medical student at the University of Texas Medical School at Houston.
- Ana Nguyen is a fourth-year medical student at the Texas Tech University Health Science Center School of Medicine.
- Kyle Piwonka is a fourth-year medical student at the University of North Texas Health Science Center's Texas College of Osteopathic Medicine.
- Jenny Van Winkle is a fourth-year medical student at the Texas A&M University System Health Science Center College of Medicine.
- Ajit Vyas is a fourth-year medical student at Baylor College of Medicine.
For the past 4 years, TMLT has awarded a $5,000 scholarship to one student at each Texas medical school that participated in the competition. Scholarship recipients are chosen based on each student's financial need and written essay. Winning essays will be published on the TMLT web site (www.tmlt.org) and in TMLT's newsletter, the Reporter. The TMLT Memorial Scholarships recognize Texas medical students who are interested in finding creative ways to enhance patient safety and who can communicate their ideas in a short essay. Applications for the scholarship are available in early spring at www.tmlt.org. The TMLT Board of Governors evaluates the applications and chooses the recipients.
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 doctors in all specialties practicing in all areas of the state.
February 4, 2008
Contact: Laura Brockway
Manager, Communications and Advertising
(512) 425-5936, laura-brockway@tmlt.org
TMLT to award $40,000 in medical student scholarships
Austin, TX — One student at each Texas medical school will receive a $5,000 scholarship thanks to the 2008 TMLT Memorial Scholarship program. Launched in 2005, the program awards $40,000 in scholarships annually to Texas medical students who are interested in finding creative and effective ways to enhance patient safety.
Scholarship recipients will be chosen in a competitive process that weighs each student's financial need along with their ability to evaluate the patient safety concerns in a closed claim study and communicate their recommendations in an essay. Entries will be judged by the TMLT Board of Governors, which is composed of 9 Texas physicians.
Deadline to apply for the scholarship is Monday, June 9, 2008. Winners will be announced in September.
To be eligible for the scholarship, applicants must:
- be entering their third or fourth year of study at a Texas medical school in the fall of 2008;
- be in good academic standing;
- be able to demonstrate financial need;
- be able to communicate a commitment to patient safety and medical risk management through an essay; and
- be a current student member of (or have a student application pending with) the Texas Medical Association.
To apply, students should submit the following:
- a completed application (incomplete applications will not be considered);
- an official medical school transcript; and
- a short essay (no more than 500 words) describing the risk management considerations for a closed claim study provided with the application.
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 doctors in all specialties practicing in all areas of the state.
