MLMIC is proud to announce that our Preferred Savings Programs (PSPs) have saved New York physicians over $16 million since 2020!
Our PSPs, which offer significant savings to qualifying New York physicians, is part of MLMIC’s commitment to put the interests of policyholders first. Our unique and cutting-edge PSPs recognize the quality care and patient safety initiatives advanced by so many of New York’s medical professional organizations. Visit the Preferred Savings Programs page on our website for a current list of organizations we collaborate with.
Over the past few years, we’ve seen steady growth in these programs resulting in a significant reduction in premium for our policyholders. In 2020, our Preferred Savings Programs saved physicians $4.6 million. In 2021, total savings were $5.4 million. In 2022, savings totaled $6.4 million. That’s more than $16 million combined!
How You Can Save With MLMIC’s PSPs
Physicians who meet certain requirements can take advantage of additional valuable premium reductions, either separately or in combination with the PSPs, for potential total savings of up to 30% for experienced, full-time physicians. Available discounts include:
- Up to 12% savings for qualified physicians and surgeons with no open or closed claims;
- 5% savings when you complete a NYS-qualified Risk Management program;
- 5% savings for individual physician policyholders who waive consent to settle a claim; and
- 2% premium credit for prompt payment of the full annual premium within 30 days of receipt of the invoice.
Plus, new doctors or part-time doctors may qualify for special savings up to 50%.
We are glad to offer our insureds cost-effective solutions to medical professional liability insurance, in addition to support through our legal expertise, continuing education opportunities, risk-management solutions and 24/7 policyholder assistance.
To learn how our discounts can add up for you, we encourage policyholders to request a quote now.
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