Integro Understands the New York Medical Malpractice Environment

Integro connects New York physicians and physicians groups with comprehensive medical malpractice insurance protection at a competitive price. When you trust Integro for your medical malpractice insurance needs, our strong relationships with the top medical malpractice carriers in the country become your advantage.

New York doctors and surgeons have choices when it comes to medical malpractice insurance. Integro makes sure you select the right kind of insurance with the features you need and the competitive premium rates you want.

Buying medical malpractice insurance in New York is similar to the experience physicians will have in other states, yet New York also has some particularities that require specialized knowledge. For example, while more than 30 states have capped the amount that can be awarded for pain and suffering in medical malpractice suites, New York has not.

While reform may be on the horizon, physicians and physician groups practicing medicine in New York need insight and expertise now to get medical malpractice coverage tailored to their specific needs as New Yorkers. Integro knows how to help New York doctors select the right kind and amount of medical malpractice insurance.

Coverage for Every Practice Specialty in New York

Integro offers access to general malpractice insurance and specialized medical malpractice insurance as well. We connect individual doctors and physician practices to the most comprehensive and competitively priced medical malpractice coverage. One of the ways we keep coverage rates competitive is by offering potential discounts for New York physicians and physician groups, including:

  • Newly-joined practice physicians
  • Part time doctors
  • Physicians without claims
  • Medical society members
  • New York medical association membership
  • Board certified doctor applicants

Liability Options From Top New York Carriers

Carriers doing business in New York:

Admitted Carriers:

  • Medical Liability Mutual Insurance Company
  • Physicians Reciprocal Insurers
  • Hospital Insurance Company, Inc.
  • Academic Health Professionals Insurance Association

Non-Admitted Carriers:

  • MedPro RRG
  • Coverys RRG
  • Oceanus Insurance Company
  • Applied Medico-Legal Solutions, RRG (AMS RRG)
  • Ironshore RRG
  • Doctors & Surgeons National RRG
  • CARE RRG
  • Aspen RRG

MMIP (The “Pool”)

Created by all authorized insurers writing medical malpractice insurance in New York, the MMIP, or Medical Malpractice Insurance Pool, or simply “The Pool” for short, is typically considered an option of last resort in terms of carriers for physicians practicing in New York. If you are not able to gain coverage through Admitted or Non-Admitted carriers, Integro may be able to help you gain protection through the MMIP.

Things to Keep in Mind When Searching for Medical Malpractice Insurance

Medical Malpractice coverage is one of the most crucial, yet most complicated lines of insurance that healthcare providers purchase. Medical malpractice insurance carriers issue policies to protect physicians, clinics and healthcare facilities in the event that a patient files a claim alleging negligence resulting in injury or harm.

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The minimum medical malpractice insurance liability limit in New York is $1,000,000 per occurrence and $3,000,000 aggregate per policy period (1 year). These limits are typical of those seen across the United States. In some instances, such as in rural areas or in specific states, doctors are permitted to carry lower liability limits, but many may feel more comfortable carrying higher amounts.

New York hospitals may often require doctors to purchase a higher limit of liability coverage to gain the right to obtain admitting privileges or to work in the hospital. Sometimes, these limits can be as much as $2.3 million per occurrence and $6.9 million aggregate per policy period.

On average, medical malpractice insurance rates in New York tend to be as much as 20 – 50% higher than in other states. One cause for this is the higher volume of malpractice claims and high payouts that have been seen in New York in recent years. Seeing such trends, medical malpractice insurance companies often feel safer keeping premiums higher.

Rates vary by practice specialty and what features physicians choose to include in their coverage or whom they choose as a carrier. In some instances, rates offered through Risk Retention Groups (RRGs) for example, can be lower than those offered through more traditional carriers. Integro helps New York physicians navigate the sea of options to find the right medical malpractice coverage at the right price.

In New York, there are two distinct types of insurance providers offering medical malpractice insurance; admitted carriers and non-admitted carriers. The main difference between the two is in how each is licensed and regulated in New York.

Admitted carriers are regulated by the state of New York; must file rates with New York and gain approval from the state before selling; must participate in New York’s Guaranty Fund; are approved by all hospitals as acceptable proof of medical professional liability coverage; and can quality for excess coverage beyond the state-funded $1 million additional liability limit.

Non-admitted carriers on the other hand are RRGs; typically offer lower, more flexible rates; can cover higher risks and provide the opportunity for innovation in coverage design.

As is the case in many other states, medical malpractice insurance in New York falls into three broad categories: claims-made coverage, occurrence coverage and tail coverage. A brief overview of each is provided below.

Claims-Made Coverage
Claims-made policies cover policyholders for alleged acts of malpractice that take place and are reported to the carrier during the policy period. Claims-made policy premiums are relatively low for the first few years due to the fact that there is often a significant lag between when a treatment is administered and the filing of a claim resulting from that treatment. Because of this, claims-made premiums are structured to increase each year that the coverage is in continuous force until the risk presented approximates a "mature" risk, which usually occurs  in years 5 or 6 for individual physicians.

Premiums are typically based on actual past and current experience and physicians can increase liability limits when necessary. Policyholders therefore do not pay premiums for future liability that is difficult to project. Since claims-made policies only cover claims reported, and arising from, incidents that occurred while that policy is in effect, policyholders must be wary when switching carriers or otherwise terminating coverage and should definitely obtain either "tail" coverage (extended reporting coverage) from their old carrier or retroactive (prior-acts) coverage from their new carrier. disability and in the event of death.

Occurrence Coverage
An occurrence policy insures for any incident that occurs while the policy is in effect, regardless of when a claim is filed. Under an occurrence policy, insured's pay premiums that take into account not current experience, but future projections as well. Such claims are called "incurred but not reported" (IBNR). Occurrence insurance rates can vary significantly because of the difficulty in projecting future claims expenses. Under an occurrence policy, the limits of liability are those in effect when the incident occurred. The advantage of an occurrence policy is that neither retroactive (prior acts) nor tail coverage is needed when terminating coverage.

Tail Coverage
Premiums for tail coverage are determined by a doctor's specialty, territory, limits of liability and length of continuous claims-made coverage. Tail coverage gets more expensive the further back in time it must provide coverage since the liability assumed by the carrier becomes greater. It is usually a percentage of the insured's prior years premium.

Physicians insured by carriers licensed in the state of New York are protected against carriers becoming insolvent by the state’s $1 million / claim guaranty fund. This is different from physicians insured with RRGs; in that instance, the guaranty fund is not available.

As is the case with the Guaranty Fund, physicians insured by a New York-licensed carrier are eligible to receive $1 Million of excess coverage provided by New York. Excess coverage may be provided free of charge to the insured physician if the doctor carries the primary limits and completes a risk management course. Physicians insured through an RRG are not eligible to receive free excess coverage but may be able to purchase higher limits of primary coverage through the RRG.

Generally, RRGs charge less than carriers licensed by the state of New York. Sometimes, the premium savings can be significant.

One thing to research before making a choice on which medical malpractice insurance carrier you want to go with is whether or not your hospital grants staff privileges to physicians who are insured by an RRG. Some may not or they may not accept all RRGs.

Get a free, no obligation premium comparison from multiple, “A” rated carriers through Integro today!