How the Approved State Budget Impacts New York’s Medical Professional Liability Insurance Market

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 enactment of the 2021-2022 New York state budget.

Specifically, the April 2021 issue of The Albany Report details four state budget items of interest to the New York State medical professional liability insurance market:

1. continuation of the Physicians’ Excess Medical Malpractice Program, commonly known as the “Section 18 Program,” without additional financial burden on physicians and dentists – an important factor restored thanks in part to the work of MLMIC and MSSNY;
2. a one-year extension of the Department of Financial Services (DFS) Superintendent Lacewell’s authority to “set and establish” primary and excess rates for physicians’ and surgeons’ medical malpractice insurance;
3. a $52 million appropriation for the NYS Medical Indemnity Fund; and
4. no modifications to the budget for New York State Office of Professional Medical Conduct (OPMC), which could have diluted or eliminated due process protections for physicians.

The April edition also provides a summary of post-budget legislative priorities – including bills pushed by the plaintiff’s bar and opposed by MLMIC – and a description of the current political landscape. 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 2021 edition of The Albany Report here.

For over 40 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.