Since we have been tracking the goings-on in Texas for awhile on this blog, I have to let you know the latest:

The Texas Medical Liability Trust’s governing board voted to reduce rates for Texas policyholders and pay out a dividend once policies are renewed in 2008.

TMLT is the largest writer of medical malpractice insurance in Texas.

The board approved a 6.5 percent rate reduction on all medical specialities and classes, effective Jan. 1, 2008. In addition, all current TMLT policyholders renewing their policies in 2008 will receive a dividend equal to 22 percent of their expiring premium. This dividend is worth $35 million [READ THE REST].

This is the fifth consecutive year that rates have been lowered since medical malpractice Reform was instituted in Texas. Of course, insurance companies are vastly better off with many more clients rather than charging higher rates to a shrinking number of doctors. And, as we have reported, Texas is experiencing a rapid increase in doctors who want to be able to practice their craft without the fear of sudden, unpredictable, staggering losses that ruin them.

And this is better for all Texans who, as they suddenly have more medical options, will be able to choose the right doctor and find him or her vastly more affordable.

Hat tip to Kevin MD for the story. As a salute to the first blog entry that led us to the ongoing Texas story (if we can agree that imitation is flattery) here is a video for celebrating this five year record.