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NEW YORK, N.Y., July 17 – Hiscox USA, part of the Hiscox Group, a provider of specialty insurance, has announced the launch of its professional and general liability insurance for allied health care businesses across the U.S.
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HAMILTON, Bermuda, May 22 – Ironshore Inc., a Bermuda-based underwriter of specialty insurance lines, has entered the professional liability sector.
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TRENTON, N.J., May 20 – Legislation has been introduced to continue for another three years the $17 million yearly subsidy program to help the states high-risk doctors pay their medical liability insurance premiums.
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HARTFORD, Conn., May 15 – In what the Insurance Department is touting as a step in the right direction, MedPro has requested approval for a 24 percent rate decrease for its medical malpractice insurance rates.
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ALBANY, N.Y., February 23 – Domestic medical malpractice insurers would become exempt from certain provisions of the insurance law under certain rate-related conditions if a new bill in the State Senate becomes law.
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NEW YORK, N.Y., February 7 – J. M. Woodworth Risk Retention Group (RRG), has registered with the New York Insurance Department to offer medical malpractice insurance to physicians and surgeons in the state, according to Sanford D. Elsass, president and CEO of The Uni-Ter Group, which manages the company under contract to the board of directors.
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WINDSOR, Conn., January 16 – Artizan Internet Services and Peachtree Special Risk Brokers have launched a new web resource center for executive lines/professional liability. The companies said that the secured site (www.psreli.com) was jointly developed to educate agents and help them sell this important but complicated line of business.
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GLENMONT, N.Y., January 12 – PIANJ has announced that it will begin offering agents errors and omissions coverage through Firemans Fund on or about February 1.
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TRENTON, N.J., November 14 – The states estimated 50,000 lawyers will have to live with the temporary $75 tax they have to pay as their share of the state subsidy program to help doctors pay their medical malpractice liability insurance premiums (see November 6 Insurance Advocate: Second Round of Payments Going to Some Doctors).
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The lawyers professional liability market continues to be in a state of flux. Rates are still rising, causing distress to the law firm clientele. But historic under-pricing and high claims payments have made this professional liability insurance segment unprofitable for many carriers.
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The recent Roslyn, Long Island, school board corruption scandal illustrates the importance of placing insurance companies on notice of claims in a timely manner, especially when New York law potentially is applicable.
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