New York Medical Malpractice Insurance for Your Practice
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Are you looking for reliable and comprehensive Medical Malpractice insurance for your New York practice?
With some of the highest malpractice premiums in the country, finding the right coverage can feel overwhelming—but it doesn’t have to be.
At Hilb Group, we make it easy for New York physicians and medical professionals to secure tailored coverage that protects their practice and livelihood. With over 35 years of experience and unmatched industry relationships, we help you get excellent coverage at competitive rates.
Why Choose Hilb Group?
Here’s how we stand out in the crowded world of Medical Malpractice insurance providers:
35+ Years of Experience
With decades of experience helping New York healthcare professionals, we understand your challenges and tailor solutions to meet your needs.
Over 5,000 Satisfied Physicians Served
We take pride in supporting more than 5,000 physicians, ranging from solo practitioners to those in diverse multi-specialty groups.
Comprehensive Coverages
From medical malpractice to business protection, our suite of services ensures you’re covered from every angle. Choosing a reliable Medical Malpractice insurance carrier is crucial for securing staff privileges at hospitals and ensuring robust protection against litigation.
Nationwide Resources. Local Focus.
Leverage our vast industry relationships and buying power while enjoying solutions personalized for New York practitioners.
Who We Cover
From individual practitioners to large healthcare systems, we provide solutions for every scale:
- Independent New York physicians and small practices
- Multi-specialty groups and physician teams
- Regional healthcare networks
- Senior care facilities, nursing homes, and assisted living
No matter your size or specialty, Hilb Group is equipped to address your specific needs—because protecting your practice is our priority.
Coverages We Offer
We don’t just offer Medical Professional Liability insurance—our solutions protect every aspect of your practice.
Core Medical Coverages
Medical Malpractice Liability Insurance – Shield yourself and your practice against costly lawsuits. We offer Occurrence and Claims-Made policies, which are flexible options that provide the long-term protection you need.
Business Practice Protections
- Business Owner’s Policies (BOP) – Combines Property and General Liability protections.
- Loss of Business Income Coverage – Protection for your revenue if unexpected disruptions arise.
- Contents and Equipment Protection – Coverage for essential tools and equipment.
Risk Management Solutions
- Cyber Liability Insurance – Protects against HIPAA breaches and cyber-attacks.
- Workers’ Compensation – Ensures your employees and you are protected against workplace injuries.
- Employment Practices Liability Insurance (EPLI) – Coverage for workplace-related claims like discrimination or wrongful termination.
Physician-Specific Benefits
- Disability and Life Insurance – Safeguard your income by having financial support in the event of a disability that prevents you from working or ensuring your family is cared for in case of an untimely death.
- HIPAA Compliance Support – Protection for regulatory risks, including billing errors or HIPAA violations.
We offer solutions tailored to fit independent practices, multi-specialty medical groups, and entire hospital networks.
Did You Know?
With no statewide tort reform and unlimited damage caps on malpractice claims, New York healthcare professionals face some of the highest Malpractice premiums in the nation.
Premiums in New York can range from $7,185 for some specialties in Rochester to as high as $195,000 for OB/GYNs in Long Island.
Typically, plaintiffs can file claims up to 30 months after an incident, creating long-term legal risks for physicians. But, in New York, the statute of limitations for medical malpractice begins at the time of discovery rather than the date of the incident. For example, imagine a surgery performed 10 years ago, where a patient recently discovers a medical instrument was left in their body. That patient now has 30 months from the point of discovery to file a lawsuit.
For OB-GYNs in New York, the legal risks are even more complex. Consider a baby injured during delivery—her parents have 30 months from the discovery of the injury to take legal action. Additionally, the child herself can file a lawsuit up to three years after turning 18.
New York is one of the few states where Occurrence policies with lifetime protection are still widely available.
Why New York Physicians Need Tailored Malpractice Insurance
Practicing medicine in New York comes with unique risks. Robust, reliable Malpractice insurance isn’t just an option—it’s a necessity. And with Hilb Healthcare, you’ll always have access to industry-leading coverage tailored to handle New York’s unique malpractice challenges.
The below fun facts are just a few which make it critical for you to work with a seasoned insurance advisor who can cost-effectively tailor your coverage.
Solutions to Manage Medical Malpractice Coverage Costs
Understand Medical Liability Claims Trends for New York Healthcare Providers
By understanding these trends and implementing proactive measures, New York healthcare providers can better manage the risks associated with medical malpractice lawsuits and protect their practice. Here are some key strategies to consider:
- Claims Frequency and Severity: Analyze the frequency and severity of claims within your specialty and region. Identifying high-risk areas allows you to implement targeted strategies to reduce the likelihood of claims.
- Common Allegations: Recognize common allegations in medical malpractice claims, such as failure to diagnose or treat. Improving patient care and communication can help mitigate these risks.
- Defensive Medicine: Understand the impact of defensive medicine—practices aimed at avoiding litigation rather than benefiting the patient. While it may reduce the risk of lawsuits, it can also lead to unnecessary procedures and increased healthcare costs.
- Risk Management Strategies: Implement robust risk management strategies, including thorough documentation and clear communication protocols. These measures can significantly reduce the risk of malpractice claims.
- Malpractice Insurance: Carry robust Medical Malpractice insurance to protect against financial losses in the event of a claim. Ensure your coverage is comprehensive and tailored to your practice’s needs.
- Claims Handling: Establish an efficient claims handling process to ensure prompt and effective responses to malpractice claims. This includes having a dedicated team or individual responsible for managing claims and coordinating with your insurance provider.
Risk Retention Groups to Lower Your Medical Malpractice Policy Costs
A Risk Retention Group (RRG) is a member-owned liability insurance company designed to help U.S. businesses, professionals, and municipalities secure medical professional liability coverage. RRGs emerged as a solution to the liability crisis in the United States, addressing the challenges of unaffordable or inaccessible insurance options.
RRG Pros & Cons for New York Physicians
New York has seen a proliferation of RRGs in the last few years. RRGs can be a viable alternative for many physicians and medical groups. We suggest that physicians and/or practice administrators carefully evaluate their coverage options, understand the various benefits of standard carriers vs RRGs, and select a plan that suits their needs.
Guaranty Fund Protection: Policyholders insured by NYS licensed carriers (such as MLMIC, The Doctor’s Company & EmPro) are protected by the States $1 Million per claim guaranty fund in the event of insolvency of the carrier. However, RRG policyholders are not protected by the guaranty fund in case the RRG becomes insolvent; making it extremely important to find a RRG with strong financials and a conservative business model. The NYS Property/Casualty Insurance Security Fund (Guaranty Fund) provides a safety net protecting policyholders of NYS licensed carriers. There are a number of financially sound RRGs, so you as a customer have to vet the RRG’s financial rating. Make sure they carry AM Best rating, so you can get comfortable about their financial solvency.
Free Excess Coverage (Section 18): Physicians who are insured by a NYS licensed carrier are eligible to get $1 Million of Excess coverage provided by the State. Excess coverage is currently provided at no cost to physicians who have primary limits of $1.3/$3.9M from a NYS licensed carrier, and who complete the requisite risk management course. Physicians are expected to have this application processed through their primary affiliated hospital. Physicians who purchase their primary coverage from a RRG are not eligible for the $1 million of free excess coverage. They do however have the option to purchase higher limits of primary coverage offered by some RRGs to offset the lack of the free excess coverage.
Coverage Forms: NYS licensed carriers provide both types of coverage, Occurrence and Claims-made. Most RRGs provide Claims-made coverage, while only a handful offer both types.
Premium Savings: RRGs typically charge less than the standard premiums offered by NYS licensed carriers. In some cases, the savings can be substantial, especially when we are looking at above-average risk.
State Regulation: NYS does not regulate RRGs. RRGs can set their own premium rates, policy forms and claims handling practices, without filing for and requiring approval from NYS Department of Insurance.
Hospital Credentialing Requirements: Some hospitals do not grant staff privileges to physicians who are insured by an RRG. This scenario is changing rapidly, as many hospitals recognize the crisis some physicians face, and are accepting physicians insured by a few select RRGs. It is important to check with your hospitals to see which RRGs are currently accepted. One of the primary benefits some physicians can expect from RRGs is a sometimes-significant premiums savings. This is especially true in cases where physicians have an above-average claims experience, or other licensing/disciplinary issues. The list of RRGs offering coverage in NY is expanding, providing more and more options to NY physicians. In recent years, Risk Retention Groups (RRGs) have entered the NY market, offering competitive premium rates. As more and more hospitals in NY are now accepting physicians insured by RRGs, physicians considering MMIP, or those physicians who are not able to get insurance in the voluntary market can also consider their options with the various RRGs offering malpractice coverage in NY.
What Our Clients Say...
Peace of Mind Starts Here
Your practice deserves the best protection available—coverage that’s comprehensive, affordable, and tailor-made for your unique needs. With Hilb Group (formerly Primed Consulting), you’re not just buying insurance; you’re building a partnership with a team that’s as committed to your success as you are.
Take the first step today. Contact us for your free, no-obligation Medical Malpractice insurance quote, and discover how we’ve become the trusted choice for New York’s healthcare professionals.
We are Leaders in Medical Malpractice Insurance, New York.
Frequently Asked Questions
Medical professional liability insurance is not legally required for physicians to practice in New York. However, most hospitals and healthcare facilities require doctors to carry Medical Malpractice insurance for admitting privileges, meaning that if a physician wants to treat patients within a hospital, they typically need to have coverage to protect against rampant medical malpractice lawsuits. Additionally, many private practices and group practices also require Malpractice insurance as part of their internal policies. While the state does not enforce it by law, having Malpractice insurance is highly recommended due to the high cost of malpractice lawsuits in New York, which ranks as one of the states with the highest number of claims filed annually. Without coverage, physicians could face significant financial and professional risks.
New York is one of only 17 states that has yet to implement any tort reform policies, contributing to the state’s notoriously high Medical Malpractice insurance premiums.
The New York legislature has been debating tort reforms for years, but significant progress remains elusive. While some capped damages are allowed in specific cases, economic damages remain uncapped, often leading to substantial compensation for plaintiffs.
The cost of medical professional liability insurance in New York can vary widely based on several key factors, such as a physician's specialty, location, and claims history. For example, annual premiums may start at around $7,185 for certain specialties in Rochester but can soar to as much as $195,000 for OB/GYNs practicing in Long Island. Additionally, the type of policy—whether occurrence-based or claims-made—can significantly impact pricing. To secure the most suitable coverage at competitive rates, physicians in New York should carefully compare quotes from multiple Malpractice insurance providers.
Understanding the factors that influence Medical Malpractice insurance premiums in New York is crucial for physicians looking to manage their costs effectively. Here are the key elements that can impact your premiums:
Location: Where you practice within New York significantly affects your premiums. Urban areas like New York City typically have higher premiums compared to rural regions due to the higher volume of medical malpractice lawsuits.
Specialty: Different medical specialties carry varying levels of risk. For instance, surgeons and obstetricians often face higher premiums than primary care physicians due to the nature of their work.
Years of Experience: More experienced physicians may benefit from lower premiums as they are generally considered lower-risk compared to their less experienced counterparts.
Claims History: A history of malpractice claims can lead to higher premiums. Insurance companies view a clean claims history as a sign of lower risk.
Coverage Limits: Higher coverage limits provide more protection but also result in higher premiums. It’s essential to balance the need for coverage with the cost.
Deductible: Opting for a higher deductible can lower your premiums, but it increases your out-of-pocket costs if a claim arises.
Insurance Company: Different Medical Malpractice insurance companies offer varying premiums for the same coverage. It’s important to compare options.
Risk Retention Groups: Membership in a risk retention group can influence your premiums. These groups often offer competitive rates tailored to specific risk profiles.
Professional Liability Insurance: Having professional liability insurance can impact your Medical Malpractice insurance premiums, as it provides an additional layer of protection.
By understanding these factors, New York physicians can make informed decisions to secure the most cost-effective and comprehensive Medical Malpractice insurance coverage.
Navigating the landscape of Medical Malpractice insurance carriers in New York can be daunting, but knowing the leading players can help you make an informed decision. Here are some of the most prominent insurers covering medical negligence in New York:
MLMIC Insurance Company - As one of the largest New York Medical Malpractice insurance providers, MLMIC offers comprehensive coverage options tailored to the needs of healthcare professionals. MLMIC was initially a physician-owned company before being acquired by Berkshire Hathaway.
The Doctors Company - Known for its strong financial backing and extensive resources, The Doctors Company provides innovative coverage solutions and risk management services.
ProAssurance - With a focus on healthcare liability, ProAssurance offers flexible policies and expert support to help physicians manage their malpractice risks effectively.
MedPro Group - A member of the Berkshire Hathaway family, MedPro Group is renowned for its robust Malpractice insurance policies and excellent claims support services.
Coverys - This insurer is recognized for its proactive risk management programs and tailored coverage options that cater to the evolving needs of healthcare providers.
EmPRO - Formerly known as PRI (Physicians’ Reciprocal Insurers), it is a New York State-admitted insurance carrier specializing in Medical Malpractice coverage for physicians. EmPRO provides tailored risk management solutions and strong legal defense support.
These companies are known for their stability, comprehensive coverage options, and commitment to helping New York doctors navigate the complexities of Medical Malpractice insurance. However, only EmPRO (PRI), MLMIC Insurance Co., and The Doctors Company are the admitted insurance carriers in New York.
Since insurance rates in New York are regulated by the state, creating stringent oversight for insurance carriers, some of these carriers came to market as Risk Retention Groups (RRGs) because RRGs have the flexibility to set their own rates and provide more competitive options by tailoring rates to individual loss experiences. Additionally, RRGs are not bound by New York State laws and are not required to be admitted in the state, giving them greater operational freedom.
Purchasing Medical Malpractice insurance in New York involves several critical steps to ensure you get the best coverage for your needs. Here’s a step-by-step guide to help you navigate the process:
Determine Your Coverage Needs: Start by assessing the specific risks associated with your practice. Consider factors such as your specialty, location, and patient volume to determine the appropriate coverage limits and deductible.
Research Insurance Companies: Investigate different Medical Malpractice insurance companies. Look into their reputation, coverage options, and customer reviews to find a reliable provider.
Get Quotes: Request quotes from multiple insurance companies. Comparing prices and coverage options will help you find the best deal.
Evaluate Policy Terms: Carefully review the terms of each policy, including coverage limits, deductibles, and any exclusions. Ensure the policy meets your practice’s needs.
Consider a Broker: Working with a licensed insurance broker who specializes in Medical Malpractice insurance can simplify the process. Brokers can provide expert advice and help you find the best coverage.
Apply for Coverage: Once you’ve chosen an insurance company, submit an application. Be prepared to provide detailed information about your practice and any required documentation.
Review and Finalize: Before finalizing the purchase, review the policy terms one last time to ensure everything is in order. Once satisfied, complete the purchase to secure your coverage.
*COVERAGE DISCLAIMER: These statements do not amend, modify, or supplement any current or future insurance policy. They are not a guarantee of savings or services but reflect past client and broker experiences in the states where we are licensed. All clients and coverages are unique. Your results can and will vary. Your eligibility for products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. If there is a discrepancy between information contained herein and your policy, your policy takes precedence. Consult the actual policy or your licensed agent for details regarding terms, conditions, coverage, exclusions, products, services, and programs which may be available to you.
GENERAL INFORMATION DISCLAIMER: Statements on this website regarding insurance policies and coverages and other content provide general information only. There is no intentionally misleading information contained in this website, however, Hilb Group, provides no warranty as to their accuracy. We will endeavor to correct or clarify any incorrect information. Any hypertext links to other sites or vendors are provided as a convenience only. We have no control over those sites or vendors and cannot, therefore, endorse nor guarantee the accuracy of any information provided by those sites or the services provided by those vendors.