New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter III - Policy and Certificate Provisions › Subchapter B - Property and Casualty Insurance › Part 70 - Medical Malpractice Insurance Rate Modifications, Provisional Rates, Required Policy Provisions And Availability Of Additional Coverages › Section 70.14 - Physicians and surgeons medical malpractice policy provisions for the period commencing July 1, 1992; established rates

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Section 40 of chapter 266 of the Laws of
				  1986, as amended by section 58 of chapter 165 of the Laws of 1991, requires the
				  superintendent to establish rates for physicians and surgeons medical
				  malpractice policies for the policy period July 1, 1992 through June 30, 1993
				  and establish a surcharge, of up to 25 percent, on the rates for such medical
				  malpractice policies for the policy period July 1, 1992 through June 30, 1993,
				  if required to satisfy any deficiency for the policy periods July 1, 1985
				  through June 30, 1991.
(b) The
				  superintendent has reviewed the reports mandated by section
				  70.8(h)  and
				  former section
				  70.9(f)  of this
				  Part, taken into account the factors set forth for consideration in section 58
				  of chapter 165 of the Laws of 1991, and evaluated the financial condition of
				  insurers issuing policies of medical malpractice insurance, as reflected by
				  examinations conducted in accordance with section 310  of the Insurance Law and
				  has determined that a deficiency exists in one instance.
(c) Rates and surcharges for occurrence
				  policies providing primary coverage, up to $1 million/$3 million, issued or
				  renewed during the period July 1, 1992 through June 30, 1993, shall be as
				  follows:
(1) For Frontier Insurance Company,
				  the rate adjustments shall be as indicated in paragraph (7) of this
				  subdivision, which also reflects territorial and speciality modifications
				  approved by the superintendent in accordance with section 2307 (a)  of the
				  Insurance Law. No surcharge shall be collected for this insurer.
(2) For Group Council Mutual Insurance
				  Company, rates shall be five percent greater than those established pursuant to
				  section 70.12(c)(2)  of
				  this Part. In addition, a surcharge of four percent shall be collected for this
				  insurer.
(3) For Medical Liability
				  Mutual Insurance Company, rates shall be those established pursuant to section
				  70.12(c)(3)  of
				  this Part. No surcharge shall be collected for this insurer.
(4) For the Medical Malpractice Insurance
				  Association, rates shall be those established pursuant to section
				  70.12(c)(4)  of
				  this Part. No surcharge shall be collected for this insurer.
(5) For Physicians Reciprocal Insurers, the
				  rate adjustments shall be as indicated in paragraph (8) of this subdivision,
				  which also reflects territorial and specialty modifications approved by the
				  superintendent in accordance with section 2307 (a)  of the Insurance Law. No
				  surcharge shall be collected for this insurer.
(6) For all other insurers, rates shall be
				  those established by paragraph (3) of this subdivision, unless the insurer can
				  demonstrate to the satisfaction of the superintendent that another rate is
				  appropriate. No surcharge shall be collected for any such insurer unless
				  specifically required by the superintendent.
(7) Rate and territory changes for Frontier
				  Insurance Company.
Territory 00
								  Remainder of State
Territory 01 New
								  York Orange Ulster Westchester
Territory 02 Bronx
								  Kings Queens Richmond Rockland Sullivan
Territory 03 Nassau
								  Suffolk
Territory 04 Putnam
								  Dutchess Columbia Greene
Territory 05 Erie
								  Niagara
Old
								  Class
New
								  Class
1
1
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
3
2[DAGGER]
-14.3
+8.6
+8.6
+8.6
+8.6
-2.4
2
3[DAGGER]
-20.5
+0.7
+0.7
+0.7
+0.7
-9.6
4
4
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
5
5
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
6
6
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
7
7
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
8
8
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
9
9
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
10
10
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
11
11
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
12
12
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
13
13
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
14
14
-13.3
+9.8
+9.8
+9.8
+9.8
-1.4
14
15*
-17.4
+4.6
+4.6
+4.6
+4.6
-6.1
[DAGGER]
					 Obstetrician/gynecologists previously in Class 3 are now in Class 2 and
					 orthepedic surgeons previously in Class 2 are now in Class 3.
* Class 15 now includes all
					 specialties previously in Class 14 except neurologists (excluding the
					 supervision, direction, or performance of myelography, angiography and/or
					 pneumoencephalography) who remain in Class 14.
(8) Rate and territory changes for Physicians
				  Reciprocal Insurers.
Territory 00
								  Remainder of State
Territory 01 New
								  York Orange Ulster Westchester
Territory 02 Bronx
								  Kings Queens Richmond Rockland Sullivan
Territory 03 Nassau
								  Suffolk
Territory 04 Putnam
								  Dutchess Columbia Greene
Territory 05 Erie
								  Niagara
Class
1
0.0
0.0
3.0
8.0
5.0
8.0
2
0.0
0.0
3.0
8.0
5.0
8.0
3
0.0
0.0
3.0
8.0
5.0
8.0
4
0.0
0.0
3.0
8.0
5.0
8.0
5
0.0
0.0
3.0
8.0
5.0
8.0
5A
0.0
0.0
3.0
8.0
5.0
8.0
6
0.0
0.0
3.0
8.0
5.0
8.0
6A
0.0
0.0
3.0
8.0
5.0
8.0
8
0.0
0.0
3.0
8.0
5.0
8.0
8A
0.0
0.0
3.0
8.0
5.0
8.0
9
0.0
0.0
3.0
8.0
5.0
8.0
9A
10.0
10.0
13.3
18.8
15.5
18.8
9B*
0.0
0.0
3.0
8.0
5.0
8.0
10
0.0
0.0
3.0
8.0
5.0
8.0
* Class 9B now includes all
					 specialties previously in Class 9A except pediatricians who remain in Class
					 9A.