New York Medmal Insurance Facts

New York Medical Professional Liability Insurance Market Summary

If you're a physician in New York seeking medical liability insurance, SelectFirstInsurance can guide you to numerous reputable insurers.
Leading companies in the region include:

• Medical Malpractice Insurance Pool

• Physicians Reciprocal Insurance

• Medical Liability Mutual Insurance Company

​

New York's medical malpractice insurance market is exceptionally favorable for healthcare providers due to several factors:

• legislative reforms aimed at reducing frivolous lawsuits and ensuring fair compensation

• Active State Fund

• Availability of Risk Retention Groups (RRGs)

Medmal Insurance Requirements for New York in 2023

In New York for 2023, the standard limits of liability for medical malpractice insurance typically include:

• $1.3 million per occurrence - the maximum amount the insurance company will pay for a single claim or incident.

• $3.9 million aggregate - the maximum amount the insurance company will pay for all claims within a policy period, usually one year.

Tort Reform in New York

Tort reform in New York, as in many other states, has been a topic of significant debate, involving efforts to change the rules of the civil justice system to reduce litigation or to reduce the awarded damages in lawsuits.

• No Caps on Damages

• Modified Joint and Several Liability

• Certificate of Merit Required

Statute of Limitations for Medmal Claims

In New York, the statute of limitations for medical malpractice cases is generally 2.5 years (30 months) from the date of the alleged negligent act or omission, or from the end of continuous treatment rendered by the party or entity you intend to sue for a particular injury, illness, condition, or wrongful death.
statute of limitations may vary depending on specialization. For additional information, please visit www.statutes-of-limitations.com*

Disclaimer: The information provided above is for general informational purposes only. It  is not intended as legal, financial, or professional advice. By accessing this information, you acknowledge and accept these terms of use and any additional terms and conditions that may appear on this site from time to time.