Medical Malpractice Insurance News

In honor of “Get to Know Your Customers Day,” we asked our policyholders a bit about themselves. Here’s what we learned!

The healthcare industry nationwide is facing more frequent and severe claims, and the medical liability insurance industry is facing increased costs to defend and pay out those claims. These factors contribute to an economic phenomenon called “social inflation,” which can result in increased risk and increased premiums.

MLMIC’s SILO program can help address the many risks associated with self-insurance by offering pricing expertise, extensive claims experience, customized risk management and more!

Our Preferred Savings Programs offers significant savings to qualifying New York physicians and is just one of the many ways MLMIC puts the interests of policyholders first!

As part of our commitment to put the interests of policyholders first, MLMIC is proud to offer a number of Preferred Savings Programs (PSPs) to qualifying New York physicians. Physicians who meet certain requirements can take advantage of additional premium reductions, either separately or in combination with the PSP, for potential total savings of up to 30%.

MLMIC’s Chief Actuary Thomas Ryan answers questions related to a recent report on the nationwide medical professional liability market. The conversation, reprinted here from The Scope: Medical Edition, can help our readers understand the challenges specific to the New York market and how they impact insurers and policyholders.

The MLMIC website hosts hundreds of free online resources for both policyholders and the broader medical community. Now, all of those resources – including the MLMIC blog – are part of the MLMIC Insider.

MLMIC Insurance Company has received an A+ (Superior) Financial Strength Rating and a Long-Term Issuer Credit Rating of “aa-” from AM Best.

New York is among only three states with total medical malpractice payouts exceeding $300 million in 2017. In addition, its total payout of $617,973,000 earns it the distinction as the state with the highest per capita payout ($313) in the nation.

Physicians in NYS may experience problems, distractions and disruptions if insured by an RRG that has been declared insolvent. As a service to our policyholders, we are providing information that describes what to expect if your RRG is declared insolvent.