The Oklahoma Insurance Department approved a rate increase for medical professional liability carrier NCMIC Insurance Co. NCMIC applied for a rated increase in August 2004. It sought a rate increase of 23.2 percent with an effective date of Oct. 1. The department instead chose to hold an Oct. 20 public hearing to consider the proposed rate hike, after which Deputy Insurance Commissioner Daryl England announced the 23.2 percent rate increase had been approved with an effective date of Nov. 1.
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