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New York Medical Malpractice Insurance

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Cunningham Group is here for New York Physicians & Medical Professionals

We are Medical Malpractice Insurance Specialists helping physicians, medical professionals and medical groups across specialties get medical malpractice coverage at cost-effective rates – as well as providing valuable tools and resources.

EXPERIENCED
Founded in 1947, our experienced liability specialists will customize a policy to the specific needs of you and your practice.
PHYSICIAN DISCOUNTS
Get all the physician discounts you are entitled to, including: Risk Management, Claims-free and New to Practice.
PRIOR ACTS COVERAGE
We ensure you receive Prior Acts, so you avoid purchasing separate tail malpractice coverage.
HISTORIC MED-MAL RATE DATA
We publish historic rate data for every county in the State, in partnership with the Medical Liability Monitor – the nation’s leading independent source of Medical Liability Insurance and healthcare industry news.
FREE TOOLS & RESOURCES
Access to ALL MD, our network of Connecticut healthcare defense lawyers. Free Practice Tools, including Online Patient Satisfaction Survey System and Risk Management tools.
CUSTOMER SERVICE
Experience excellent customer service with our dedicated account team.

Cunningham Group Has You Covered

On average, Cunningham Group saves Physicians and Medical Professionals 20% on their medical malpractice insurance.

2019 New York Malpractice Insurance Marketplace Guide

New York Med-Mal Fast Facts

  • Most Common Limits of Liability: $1.3 million/$3.9 million
  • Major Malpractice Insurers:
    • Medical Liability Mutual Insurance Company (MLMIC)
    • Physician’s Reciprocal Insurance (PRI)
    • Hospitals Insurance Co.
    • MedPro RRG
    • MCIC VT (A Reciprocal RRG)
    • The Doctors Company (TDC) – coming soon
    • Cost of medical malpractice insurance: Very high.

The New York Malpractice Landscape

The New York malpractice landscape is unique and can present challenges for many physicians. New York has not had success in passing meaningful tort reforms, and the state has only three admitted carriers – Physicians Reciprocal Insurance (PRI), MLMIC Insurance Co. and The Doctors Company. In recent years, standard medical professional liability insurance companies—better known outside of New York—have founded risk retention groups (RRGs) with the intent of entering the state. An RRG is an alternative risk transfer mechanism permitted under the Federal Risk Retention Act of 1986 that provides insurance coverage for individuals participating in a similar business. Those companies are only subject to the insurance rules and regulations of the state in which they are domiciled, but can register and engage in the business of insurance in all states.

Traditionally, the downside of being covered by an RRG is that its insureds must make a large capital contribution to establish reserves and have no access to a state’s guaranty fund should the RRG be unable to meet its obligations. The new RRG options available in the state have been funded and reinsured by their parent company, eliminating some of the risks associated with RRGs.

While the entrance of RRGs into the market has been New York’s dominant medical liability story during recent years, 2018 saw two significant moves by admitted medical professional liability insurers. Longtime New York insurer of medical liability MLMIC Insurance Co. completed its conversion from a property-and-casualty mutual insurance company to a property-and-casualty stock insurance company, finalizing its $2.5 billion acquisition by National Indemnity Co., a subsidiary of Berkshire Hathaway Inc. As a subsidiary of Berkshire Hathaway, MLMIC will have enhanced capacity and financial strength to continue serving New York State physicians, hospitals and dentists. And after entering the New York admitted market in 2017, medical professional liability insurer The Doctors Company announced an agreement to purchase Hospitals Insurance Co. (HIC) and its third-party administer FOJP Service Corp. from Mount Sinai Health System, Montefiore Health System and Maimonides Medical Center for $650 million, further expanding its footprint in New York.

Another unique facet of the New York market is the prevalence of occurrence policies, which are quite common. Occurrence policies differ from claims-made because they cover a physician for any incident that happens during the policy period, regardless of when the claim is filed. Occurrence policies will continue to provide this coverage even after a policy has been cancelled. Physicians who have an occurrence policy will not need to purchase tail insurance if they leave their carrier. However, occurrence policies are more expensive than the more common claims-made policies. Claims-made policies only cover incidents that occur during the policy period if the claim was also made while the policy is still in force. Otherwise, the physician would need prior acts coverage for protection against such claims.

Tort Reform in New York

Though medical malpractice tort reforms have been attempted in the past, they have met with little success. In addition to costly medical malpractice insurance rates, the state has the most expensive Medicaid program in the country, serving one in four New Yorkers and costing more than twice the national per capita average. In 2011, Gov. Andrew Cuomo commissioned a Medicaid Redesign Task Force with the directive of recommending ideas for decreasing the cost of healthcare in New York.

The Task Force made 79 recommendations, including a $250,000 cap on noneconomic damages and the creation of an indemnity fund for neurologically damaged infants. While the noneconomic damage cap failed to receive approval from the state assembly, the fact that a governor from the Democratic Party endorsed and lobbied for a cap shows that an increasing number of lawmakers understand New York’s need for change in its medical liability climate. According to Gov. Cuomo, the cap would improve predictability for medical malpractice insurance companies, allowing them to reduce rates and offer financial relief to physicians who treat Medicaid patients

New York has also benefited from PPACA grants earmarked for creating medical malpractice pilot programs intended to reduce the number of medical errors as well as test special “health courts” employing specialized judges to mediate medical malpractice settlements before the go to trial. The program is still in its early stages, but early results have been promising.

Medical liability reforms moved in an unfortunate direction in 2018 when New York Gov. Andrew Cuomo signed into law “Lavern’s Law,” which changed the tolling of the state’s two-and-a-half-year statute of limitations for an alleged missed diagnosis of cancer from the date of the alleged missed diagnosis to when the patient discovers the missed diagnosis. Many in the medical liability interest expect this new law to increase the number of claims for missed diagnosis of cancer.

Does New York have...

  • Damage Caps? No
  • Patient Compensation Fund? No
  • Apology Law? No
  • Collateral Source Reform? Yes, collateral sources can be admitted as evidence, and an award must be reduced by the amount recovered.
  • Periodic Payments? Yes, future damages exceeding $250,000 have to be paid periodically.
  • Joint Liability Reform? Yes, for noneconomic damages only, defendants are responsible for only their share of damages, if they are 50% or less at fault. Defendants can be held jointly and severally liable for economic damages.
  • Limits on Plaintiff Attorney’s Fees? Yes, attorney fees are capped at 30% of the first $250,000; 25% of the next $250,000; 20% of the next $500,000; 15% of the next $250,000; and 10% of fees of $1.25 million or more.

Medical Malpractice Rates in New York

Overview

Rates in New York are very high, but they can differ greatly depending on specialty and location.

Get Historic Rates

By combining our efforts with those of the Medical Liability Monitor – the nation’s leading independent source of Medical Liability Insurance news, as well as the political, legal and risk management issues that affect the healthcare industry – we’ve published historic rate data for every county in the Empire State. You can view all the rates by completing the three simple steps on the left of this page. You’ll find the insights offered by this information invaluable when making your decision on your medical malpractice insurance coverage and carriers. This is only one of the many reasons that Cunningham Group Insurance has become the preferred online source for New York physicians, healthcare professionals and medical groups looking to find the best coverage and lower their medical malpractice insurance rates.

Coverage by New York County

Prices for medical malpractice insurance in New York vary greatly by specialty and county – perhaps more than any other state. For example, an OBGYN in Nassau or Suffolk counties might pay $200,000 or more in premium each year – whereas a general practitioner in Livingstone or Monroe counties might pay as little as $10,000.

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