April 15, 2005

Following the introduction of legislated liability limits in Australian states and territories as well as a program of government assistance to physicians, the average cost of medical liability insurance dropped by 12 percent last year following three years of increases, the official Australian Competition and Consumer Commission (ACCC) has announced. "The ACCC's report shows that medical indemnity insurance is currently in a healthy and viable state, a significant change from two years ago when the largest medical indemnity insurer was in provisional liquidation," said ACCC chairman Graeme Samuel. The full report is here. For more on damage limits Down Under, see May 16, 2004.