New Mexico Professional Liability - 2025 Guide
New Mexico physicians benefit from moderate malpractice insurance rates, supported by the state's Patient Compensation Fund (PCF) and a $750,000 cap on total damages (excluding punitive damages and medical expenses).
Medical Malpractice Insurance Requirements in New Mexico
Physicians in New Mexico must carry malpractice insurance with limits of $250,000 per claim and $750,000 annual aggregate to qualify for the Patient Compensation Fund. The PCF provides additional coverage above $250,000, effectively protecting physicians from large judgments.
Occurrence vs Claims-Made Malpractice Policies in New Mexico
New Mexico is unique in that standard market insurers offer only occurrence policies. Claims-made coverage is available solely through surplus-line insurers, making occurrence the default choice for most physicians.
Coverage applies to incidents that occur during the policy period, regardless of when the claim is filed.
Coverage applies to claims filed during the policy period, requiring tail coverage for future claims.
Leading Medical Malpractice Insurance Companies in New Mexico
In addition to the below insurers, DocShield typically provides your practice with quotes from several other highly rated insurers. Ratings provided by AM Best (the leading insurance credit rating agency).
MedPro
The Doctors Company
Coverys
MagMutual
Malpractice Insurance Cost in New Mexico
The data below represent undiscounted premiums. DocShield is often able to save practices 30-50% relative to these rates.
| Medical Specialty | Average Premium | Lowest Premium |
|---|---|---|
| Anesthesiology | $14,900 | $4,885 |
| Cardiovascular Disease - Minor Surgery | $16,100 | $6,401 |
| Emergency Medicine | $24,300 | $10,106 |
| Family Practice - No Surgery | $12,800 | $3,874 |
| Gastroenterology - No Surgery | $10,700 | $5,727 |
| General Practice - No Surgery | $12,800 | $3,874 |
| General Surgery | $33,000 | $10,106 |
| Internal Medicine - No Surgery | $12,900 | $4,633 |
| Neurology - No Surgery | $11,700 | $5,727 |
| Obstetrics and Gynecology - Major Surgery | $46,700 | $16,844 |
| Occupational Medicine | $7,100 | $2,695 |
| Ophthalmology - No Surgery | $7,600 | $2,358 |
| Orthopedic Surgery - No Spine | $29,600 | $10,106 |
| Pathology - No Surgery | $8,200 | $3,369 |
| Pediatrics - No Surgery | $9,600 | $3,874 |
| Psychiatry | $7,600 | $2,695 |
| Pulmonary Disease - No Surgery | $12,500 | $5,727 |
| Radiology - Diagnostic | $15,700 | $4,885 |
Working with Medical Malpractice Insurance Brokers in New Mexico
A licensed broker can help you navigate the administrative work involved in getting quotes and the nuances of choosing a policy that fits your particular practice. Importantly, brokers work for you, not a single insurer, so they can shop across multiple insurers to find you the most competitive premium for a high-quality policy.
Buy Affordable Malpractice Insurance with Docshield
We've built the fastest application process in the industry so you don't have to disrupt your schedule to shop for coverage. After you select a policy, we automatically scan the market every year before renewal to ensure you're paying a fair price.
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New Mexico Statute of Limitations
The statute of limitations for malpractice claims in New Mexico is three years from the date of the alleged negligent act. Exceptions apply for minors under six years old, who have until their ninth birthday to file.
Tort Reform in New Mexico
New Mexico's tort reforms include: i) a $750,000 cap on total damages (excluding medical expenses and punitive damages), with annual CPI-based adjustments, ii) establishment of the Patient Compensation Fund for damages exceeding $250,000, iii) a medical review commission to evaluate claims prior to court, and iv) prohibition of ad damnum clauses specifying dollar amounts in complaints.