Physicians' Reciprocal Insurers Offers New York Doctors Unique Claims-Free Discount Program
Anthony J. Bonomo, CEO of Physicians' Reciprocal Insurers, the preferred medical professional liability insurance plan for more than 10,000 physicians and 150 medical facilities in New York State, has unveiled a new cost savings program for doctors and their practices.

ROSLYN, NY, May 11, 2011 /24-7PressRelease/ -- Anthony J. Bonomo, CEO of Physicians' Reciprocal Insurers, the preferred medical professional liability insurance plan for more than 10,000 physicians and 150 medical facilities in New York State, has unveiled a new cost savings program for doctors and their practices. With the approval by the New York State Insurance Department of a discount program for physician insureds of PRI who have been claims free for the past five (5) years, medical doctors will receive a 7.5% discount to the premium rates established for 2011-2012. The PRI discount program, which is effective July 1, 2011, is limited to physicians who have been in practice for a minimum of five years, who have no open claims, (or suits), and no closed claims, (or suits) with any paid indemnity or expense within the last five years.

Since its founding more than 25 years ago, PRI, uniquely physician owned and governed, has advocated for discounts and other advantages for doctors as the cost and burden of medical professional liability insurance cost soars. Mr. Bonomo stated: "We have tried to control cost drivers by advocating for tort reform and caps on awards, as socially responsible steps for the legislature. As these measures are considered, we are advancing other programs such as the Claims Free Discount Program before regulators and legislators and we are meeting with increasingly greater acceptance, as the doctors' plight becomes evident to elected officials. On behalf of the thousands of doctors and the institutions insuring through us, I would like to thank the New York State Insurance Department for its responsiveness and vision in permitting us to offer this discount, which will add up to many thousands of dollars saved for doctors and ultimately for the public."

Mr. Bonomo noted that all of PRI's claims-free insureds will be receiving a letter notifying them of this program so that cost savings may be realized as soon as possible.

Editor: For information, call Mr. Bonomo's office at 516 365 6690.

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