New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter B - Property and Casualty Insurance
Part 70 - Medical Malpractice Insurance Rate Modifications, Provisional Rates, Required Policy Provisions And Availability Of Additional Coverages
Section 70.15 - Physicians and surgeons medical malpractice policy provisions for the period commencing July 1, 1993; established rates
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Section 40 of chapter 266 of the Laws of 1986, as amended by section 4 of chapter 256 of the Laws of 1993, requires the superintendent to establish rates for physicians and surgeons medical malpractice policies for the policy period July 1, 1993 through June 30, 1996 and establish a surcharge, of up to eight percent, on the rates for such medical malpractice policies for the policy period July 1, 1993 through June 30, 1994, if required to satisfy any deficiency for the policy periods July 1, 1985 through June 30, 1992.
(b) The superintendent has reviewed the reports mandated by section 70.8(h) and former section 70.9(f) of this Part, taken into account the factors set forth for consideration in section 4 of chapter 256 of the Laws of 1993, and evaluated the financial condition of insurers issuing policies of medical malpractice insurance, as reflected by examinations conducted in accordance with section 310 of the Insurance Law. As a result of review and consideration, the superintendent has determined that a deficiency exists, in one instance, for the policy periods July 1, 1985 through June 30, 1992.
(c) Rates and surcharges for occurrence policies providing primary coverage, up to $1 million/$3 million, issued or renewed during the period July 1, 1993 through June 30, 1994, shall be as follows:
Territory 00 Remainder of State |
Territory 01 New York Orange Ulster Westchester |
Territory 02 Bronx Kings Queens Richmond Rockland Sullivan |
Territory 03 Nassau Suffolk |
Territory 04 Putnam Dutchess Columbia Greene |
Territory 05 Erie Niagara |
|
Class |
||||||
1 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
2 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
3 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
4 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
5 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
6 |
+3.7 |
+9.2 |
+9.2 |
+9.2 |
+9.2 |
+9.2 |
7 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
8 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
9 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
10 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
11 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
12 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
13 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
14 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
15 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
18 |
+9.2 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
+14.9 |
Territory 00 Remainder of State |
Territory 01 New York Orange Ulster Westchester |
Territory 02 Bronx Kings Queens Richmond Rockland Sullivan |
Territory 03 Nassau Suffolk |
Territory 04 Putnam Dutchess Columbia Greene |
Territory 05 Erie Niagara |
|
Class |
||||||
1 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
2 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
3 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
4 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
5 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
6 |
+2.9 |
+8.3 |
+8.3 |
+8.3 |
+8.3 |
+8.3 |
7 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
8 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
9 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
10 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
11 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
12 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
13 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
14 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
15 |
+8.3 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
+14.0 |
Territory 00 Remainder of State |
Territory 01 New York Orange Ulster Westchester |
Territory 02 Bronx Kings Queens Richmond Rockland Sullivan |
Territory 03 Nassau Suffolk |
Territory 04 Putnam Dutchess Columbia Greene |
Territory 05 Erie Niagara |
|
Class |
||||||
1 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
2 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
3 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
4 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
5 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
6 |
+3.5 |
+9.0 |
+9.0 |
+9.0 |
+9.0 |
+9.0 |
7 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
8 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
9 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
10 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
11 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
12 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
13 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
14 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
15 |
+9.0 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
+14.7 |
Territory 00 Remainder of State |
Territory 01 New York Orange Ulster Westchester |
Territory 02 Bronx Kings Queens Richmond Rockland Sullivan |
Territory 03 Nassau Suffolk |
Territory 04 Putnam Dutchess Columbia Greene |
Territory 05 Erie Niagara |
||
Old Class |
New Class |
||||||
1 |
1 |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
2 |
2 |
+ 0.9 |
+10.7 |
+14.5 |
+16.0 |
+13.6 |
+12.8 |
3 |
3 |
+ 2.4 |
+12.4 |
+16.2 |
+17.7 |
+15.3 |
+14.4 |
4 |
4 |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
5 |
5 |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
5A |
5A |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
6 |
6B** |
- 4.1 |
+5.2 |
+8.7 |
+10.2 |
+7.9 |
+7.1 |
6A |
6A |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
8 |
8 |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
8A |
8A |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
- |
8B** |
+ 3.8 |
+13.8 |
+17.7 |
+19.3 |
+16.8 |
+15.9 |
9 |
9 |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
- |
9C** |
- 10.6 |
-2.0 |
+1.3 |
+2.7 |
+0.6 |
-0.2 |
9A |
9D |
+ 4.2 |
+14.3 |
+18.2 |
+19.8 |
+17.3 |
+16.5 |
9B |
9E |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
10 |
10** |
+ 3.0 |
+13.0 |
+17.0 |
+18.5 |
+16.0 |
+15.0 |
** New Class 6B also includes those anesthesiologists previously included in Class 6A. New Class SB contains diagnostic and therapeutic radiology specialties previously included in Class 9. New Class 9C contains the family/general practice specialties previously included in Class 9. Class 10 now includes hospice medicine and psychiatry specialties previously contained in Class 9 and child psychiatry previously contained in Class 9B.
(d) Rates for policies providing excess coverage issued or renewed during the period July 1, 1993 through June 30, 1994 shall be as follows, and no surcharges shall be collected on these policies:
(e) Claims-made primary and excess coverage rates.
Year in Claims-Made Program |
Claims-Made Factor |
First |
31% |
Second |
64 |
Third |
85 |
Fourth |
94 |
Fifth |
99 |
Sixth |
102 |
Seventh |
104 |
Eighth and later |
105 |
Number of years completed in Claims-Made Program |
Tail Factor |
One |
74.8% |
Two |
122.1 |
Three |
146.4 |
Four |
162.4 |
Five |
173.3 |
Six |
181.0 |
Seven |
186.7 |
Eight or more |
190.6 |
(f) Rates for claims-made policies where the physician, while receiving coverage under a claims-made policy, changes classification or territory.
(g) Excess coverage-types of policies; required tail.
(h) Rates for claims-made and tail excess coverage policies purchased by hospitals.
The aggregate rate for a claims-made excess policy and its simultaneously issued tail, purchased by a general hospital on behalf of physicians, shall equal the corresponding occurrence excess coverage rate.
(i) Required filings.
Footnotes
** New Class 6B also includes those anesthesiologists previously included in Class 6A. New Class SB contains diagnostic and therapeutic radiology specialties previously included in Class 9. New Class 9C contains the family/general practice specialties previously included in Class 9. Class 10 now includes hospice medicine and psychiatry specialties previously contained in Class 9 and child psychiatry previously contained in Class 9B.