N.Y. Audit of Insurer Tied to Graft Probe May Spur Higher Rates
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New York doctors, some of whom already pay 10 times more for malpractice insurance than physicians in San Francisco, may see their rates soar thanks to a state audit beginning this month.
Physicians’ Reciprocal Insurers, whose shaky finances are central to an Albany corruption probe, has said in annual reports since 2009 that the state could liquidate it absent a law that blocks that action. Medical groups say the new audit might drive away doctors, sending PRI into insolvency, raising costs for remaining companies and leaving patients with fewer options for care.