The Albany Report: New York State Enacts 2024-25 Budget

MLMIC’s The Albany Report offers policyholders a concise, insiders’ view of pending legislative, regulatory and political developments that have an impact on physicians, dentists, hospitals and other healthcare professionals practicing in New York State. The latest edition of MLMIC’s The Albany Report focuses policyholder attention on the 2024-25 New York State budget.

Specifically, the April 2024 issue of The Albany Report details these items of interest to the New York State medical professional liability insurance market:

1. updates on the Section 18 Program;
2. details on the Extension of the New York State Department of Financial Services (DFS) Superintendent’s authority to “set and establish” rates for physician and surgeon medical professional liability (MPL) insurance;
3. information on the New York State Medical Indemnity Fund; and
4. news about the Committee on Physician Health.

The April edition also provides insights on the Governor’s proposal to lower the current NY 9 percent judgment interest rate and the Grieving Families Act.

Together with our medical partner organizations, we’ll continue to seek sensible reform that balances the uneven playing field when it comes to medical malpractice lawsuits in New York.

You can access additional details in the April 2024 edition of The Albany Report here.

For almost 50 years, MLMIC has been committed to meeting the medical professional liability insurance needs of physicians, dentists, hospitals and other healthcare professionals. As a core part of its mission, MLMIC is, and always has been, a strong advocate for the healthcare community and has effectively lobbied for legislative and regulatory reform to address those issues that continue to impact healthcare professionals. The Albany Report is intended to enhance this advocacy.