DFS Approves MLMIC Rates for 2017, Including No MD Base Rate Change
MLMIC is pleased to announce that New York’s Department of Financial Services (DFS) recently approved MLMIC’s 2017 rates. Base rates remain unchanged for all physician policyholders for July 1, 2017, to July 1, 2018, and there is a small adjustment to how entity rates are calculated.
In addition, consistent with our goal to achieve equity among the specialties, DFS approved a number of specialty class changes, as detailed in the table below (click to enlarge):
Details have been mailed to all policyholders with July 1 renewal letters, which also include invoice credits for those who qualify for the 20% dividend the Board declared in December 2016. The dividend savings – which applies to policyholders who were insured on May 1, 2017, and maintained continuous coverage through July 1 – will provide meaningful relief to our policyholders.
If you have questions about your rate, renewal or invoice, please contact us.