Medical Malpractice Insurance for New York Physicians
Edgewood Healthcare Advisors
Medical Malpractice coverage is one of the most crucial, yet most complicated lines of insurance that healthcare providers purchase. Medical malpractice insurance carriers issue policies to protect physicians, clinics, and healthcare facilities in the event that a patient files a claim alleging negligence resulting in injury or harm.
Our team connects New York physicians and physicians groups with comprehensive medical malpractice insurance protection at a competitive price. When you trust Edgewood Healthcare Advisors for your medical malpractice insurance needs, our strong relationships with the top medical malpractice carriers in the country become your advantage.
We Understand the New York Medical Malpractice Environment
New York doctors and surgeons have choices when it comes to medical malpractice insurance. We make sure you select the right kind of insurance with the features you need and the competitive premium rates you want.
Coverage for Every Practice Specialty in New York
|Newly-joined practice physicians||Part time doctors
|Medical society members||New York medical association membership|
|Physicians without claims||Board certified doctor applicants|
When Searching for Medical Malpractice Insurance, Keep in Mind:
Liability Limits in New York
The minimum medical malpractice insurance liability limit in New York is $1,000,000 per occurrence and $3,000,000 aggregate per policy period (1 year). New York hospitals may often require doctors to purchase a higher limit of liability coverage to gain the right to obtain admitting privileges or to work in the hospital. Sometimes, these limits can be as much as $2.3 million per occurrence and $6.9 million aggregate per policy period.
Medical Malpractice Rates in New York
On average, medical malpractice insurance rates in New York tend to be as much as 20 – 50% higher than in other states. Rates vary by practice specialty and what features physicians choose to include in their coverage, or whom they choose as a carrier. In some instances, rates offered through Risk Retention Groups (RRGs) for example, can be lower than those offered through more traditional carriers. We help New York physicians navigate the sea of options to find the right medical malpractice coverage at the right price.
Types of Carriers in New York
In New York, there are two distinct types of insurance providers offering medical malpractice insurance; admitted carriers and non-admitted carriers. The main difference between the two is in how each is licensed and regulated in New York.
Types of Coverage
As is the case in many other states, medical malpractice insurance in New York falls into three broad categories: claims-made coverage, occurrence coverage and tail coverage. We can help you navigate through these.
Guaranty Fund Protection
Physicians insured by carriers licensed in the state of New York are protected against carriers becoming insolvent by the state’s $1 million/claim guaranty fund. This is different from physicians insured with RRGs; in that instance, the guaranty fund is not available.
Free Excess Coverage
As is the case with the Guaranty Fund, physicians insured by a New York-licensed carrier are eligible to receive $1 Million of excess coverage provided by New York. Excess coverage may be provided free of charge to the insured physician if the doctor carries the primary limits and completes a risk management course. Physicians insured through an RRG are not eligible to receive free excess coverage but may be able to purchase higher limits of primary coverage through the RRG.
Generally, RRGs charge less than carriers licensed by the state of New York. Sometimes, the premium savings can be significant.
One thing to research before making a choice on which medical malpractice insurance carrier you want to go with is whether or not your hospital grants staff privileges to physicians who are insured by an RRG. Some may not or they may not accept all RRGs.
Contact Matt LeBlanc at or (860) 521-8555 to get a free, no obligation premium comparison from multiple, A-rated carriers.
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Customized Solutions for New York Physicians
- Concierge Medicine
- Emergency Medicine and Urgent Care Solutions
- Hospital Insurance Alliance
- OB/GYN Risk Purchasing Group
- Radiological Professional Liability Program
- RAC Adult Coverage
- Orthopedic Specialist Risk Purchasing Group