New York Med Mal Insurer Reducing Buy-in for New Policyholders

J. M. Woodworth RRG, Inc., a medical malpractice Risk Retention Group that insures physicians and surgeons in New York, is reducing the capital new policyholders are required to pay by 83 percent through the end of this year.

The company said it will make this offer to new stockholders from October 1 through December 31.

Woodworth is a stock insurance company organized as a Risk Retention Group under the federal Liability Risk Retention Act of 1986, which enables RRGs domiciled in a single state to operate in all other states without additional licensing.

The company issued its first policy in New York on October 1, 2006.


Source: J. M. Woodworth RRG Inc.