PriMed Consulting - Medical Malpractice Brokers NY, NJ
More changes to the NY Malpractice standard market

Author Archives: Dana

More changes to the NY Malpractice standard market

13 Mar 2019
13, Mar Mar, 2019

Hospitals Insurance Company (HIC) and FOJP Service Corporation (FOJP), together with Mount Sinai Health System, Montefiore Health System & Maimonides Medical Center have entered into an agreement to sell HIC and FOJP to The Doctors Company (TDC) for $650M. The deal is proposed to close in 2019, if approved by the NYS Dept of Financial Services. Both carriers are admitted in the NY market, but this has the potential of improving the status of both companies.

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Why Do Health Professionals Seek Coverage with MLMIC?

13 Jan 2015
13, Jan Jan, 2015

If you’re a physician practicing in New York, you’ve probably heard of Medical Liability Mutual Insurance Company, or MLMIC. MLMIC is one of the largest malpractice insurance companies in the country, and one of the most prominent NY carriers that can provide protection against a malpractice lawsuit. Read More

Physicians: Why MMIP (Medical Malpractice Insurance Pool) may be an option.

13 Jan 2015
13, Jan Jan, 2015

MMIP, or the Medical Malpractice Insurance Pool, is New York’s malpractice insurance liability program for doctors with a history of malpractice claims. For physicians and other health care providers who cannot get coverage through the other standard carriers such as MLMIC or PRI, either due to adverse malpractice claims experience or other licensing issues, MMIP would be their ‘go to’ company.

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Who and What Does PRI Cover?

13 Jan 2015
13, Jan Jan, 2015

Physicians Reciprocal Insurers or PRI, is the second largest malpractice insurance carrier in the state of New York. PRI has been serving the needs of NY healthcare providers and facilities for over 30 years. Read More

NY Medical Malpractice: Professional Entity Coverage

8 Jan 2015
8, Jan Jan, 2015

Do you need to cover your Professional Entity against potential malpractice lawsuits?

It is important for physicians and practices to understand ‘who’ and ‘what’ is covered under a medical malpractice insurance policy, as well as the limits and exclusions.

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What is a stand alone “tail” policy?

21 Apr 2014
21, Apr Apr, 2014

If you are looking for options to “tail out” or purchase an extended reporting period, we can help. At PriMed Consulting, we can obtain various tail quotes for you so you do not need to pay the high premium you may have been quoted by your current carriers. We have access to many carriers in NY & NJ that will look at your exposure over the time you have been on your Claims-Made policy. These carriers will determine a competitive premium in line with your particular risk.
A “stand alone tail” or an extended reporting period is a policy to cover any claim that could be made from a patient seen after yourclaims-made retroactive date. This can cover you after you have retired or if you have gone on to a hospital policy, a new claims-made policy or changed over to occurrence. Tail policies can be unlimited; where they cover you for an unlimited period of time or can be written to only cover you for a certain period of time, maybe 5-10 years. It is important tail of some form be purchased so you have coverage should a claim come in once you claims-made policy is no longer in effect.

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New Jersey Health Information Technology Extension Center (NJ-HITEC)

5 Dec 2012
5, Dec Dec, 2012

EMR Meaningful Use:

Under the Health Information Technology for Economic and Clinical Health (HITECH) Act, eligible health care professionals and hospitals can qualify for Medicare and Medicaid incentive payments when they adopt certified EHR technology and use it to achieve specified objectives. Eligible professionals and hospitals may qualify for incentive payments for the adoption, implementation, upgrade or demonstration of meaningful use of certified electronic health record technology. To qualify for incentive payments, standards of meaningful use requirements must be met either by Medicare or Medicaid EHR incentive programs.

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NJ Med-Mal Discounts: Orthopaedic Surgeons of New Jersey (OSNJ) & OSPA (Orthopaedic Surgeons Purchasing Alliance)

28 Nov 2012
28, Nov Nov, 2012

The Orthopaedic Surgeons of New Jersey (OSNJ), through the OSNJ Medical Liability Insurance Purchasing Alliance, has arranged for discounts on medical liability insurance purchased through MDAdvantage of New Jersey. These med-mal discounts are 12 ½ % for General Orthopaedists and 7 ½ % for Orthopaedists who do Spine.

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NY Medical Malpractice Insurance: ‘Claims-free’ Discount

26 Nov 2012
26, Nov Nov, 2012

NY Physicians who have excellent malpractice claims experience can now qualify for additional discounts on Their Malpractice Insurance Premiums. The NY State Insurance Department approved a new Claims-free discount of 7.5% for qualifying physicians, effective July 1, 2011.

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NY Medical Malpractice Insurance: New-to-practice Discounts

21 Nov 2012
21, Nov Nov, 2012

Physicians and Surgeons who enter private practice (either solo or joining a group practice) immediately after completion of their training can qualify for New Doctor discounts on Their Medical Malpractice Insurance. In some cases, physicians who immediately after their training became hospital employees, but are now starting their private practice (solo or joining a group), may also qualify for the New Doctor discount.

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