New York's top insurance regulator said in a terse announcement today that new medical malpractice insurance rates that were scheduled to be set tomorrow have been delayed.
Insurance Superintendent Eric Dinallo said in a statement that he was holding up the process “to allow time for the negotiation of reforms that have the potential to result in reduced rates.”
He added that when rates for 2008-2009 are determined, they will be retroactive to July 1, 2008.
A spokesperson said that further details on the negotiations could not be provided.
In April, the Senate passed a malpractice measure sponsored by Sen. John Flanagan, R-Northport, which was sent to the Assembly, but the Assembly, has not moved on it.
Under Sen. Flanagan's measure, the level of primary medical malpractice coverage required of a physician or dentist to qualify for the New York Excess Medical Malpractice Liability Insurance Coverage Program would be lowered by 6 percent.
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