MLMIC vs. RRG Coverage: A Quick Reference Guide

It is understandable why physicians are drawn to RRGs. These days, reimbursements are a challenge and expenses keep increasing, and medical budgets are stretched thin (a claims-made RRG policy may cost a third of an occurrence policy with a well-funded malpractice insurer, which can certainly seem like an enticement to a budget-strapped physician or medial practice

But choosing to partner with an RRG is a decision that must be based on much more than dollars and cents: it is a decision that could impact not only your career as a physician but your livelihood. So before considering a move for your professional liability coverage needs to seemingly less expensive coverage with an RRG, please read the following side-by-side comparison of key components. Here, we’re comparing an RRG with MLMIC, as an example:

	MLMIC	RRG
Eligibility for free excess coverage?	YES	NO
Types of coverage offered?	Occurrence & Claims Made	Typically, Claims Made only
Regulated by New York State?	YES	Typically, NO
Covered by NYS Property & Casualty Insurance Security Fund in event of insurer’s insolvency?	YES	Typically, NO
Upfront costs required to become insured?	NO	Often, YES
Jeopardy of privileges at affiliated hospitals?	NO	POSSIBLY

Physicians who are considering transferring their coverage to an RRG should first contact a MLMIC underwriter. MLMIC underwriters are available to answer any questions and can be reached at the office nearest a physician’s practice location: New York, 212-576-9670; Syracuse, 315-428-1188; Latham, 518-786-2700; East Meadow, 516-794-7200