Medical Liability Mutual Insurance Company
DFS Approves 2.1% General Increase in MLMIC Premiums but Physicians Also Receive 5% Dividend Credit
MLMIC insured physicians should soon be receiving notices that the Department of Financial Services (DFS) established a 2.1% base rate increase for MLMIC physicians for the policy year beginning July 1st. DFS also approved several specialty and territory rate changes requested by MLMIC, ranging from -10% for anesthesiology and pediatrics and -5% in orthopedic surgery and obstetrics to +5% for cardiac surgery, vascular surgery, bariatric surgery, emergency medicine and neurology. Physicians practicing in Manhattan and the Lower Hudson Valley, as well as physicians practicing in the Rochester area, were also given modest reductions. Furthermore, MLMIC will be providing a 5% dividend credit to the vast majority of its insured physicians that renew on July 1.
For more information on MLMIC, including how to become a policyholder, please visit www.mlmic.com or call your nearest MLMIC underwriting office: New York City: 800.275.6564, Long Island: 877.777.3560, Latham: 800.635.0666, or Syracuse: 800.356.4056.
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Medical Liability Mutual Insurance Company (MLMIC) was formed in 1975, in cooperation with the Medical Society of the State of New York (MSSNY).
It is a mutual professional liability insurance company, which means that it is owned by the healthcare providers it insures. Headquartered in New York City, MLMIC has field representatives throughout the State, as well as three regional offices located in Syracuse, East Meadow, and the Albany area.
Management and direction of MLMIC is accomplished through a Board of Directors, comprised of physicians, dentists, and hospital administrators. Policyholders have full voting rights on management issues. MLMIC is an active participant in the national organization, Physician Insurers Association of America (PIAA), and has been a leading force in development of risk management programs and systems, cause of loss identification, and patient safety education.
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