ALBANY, N.Y. (AP) _ Regulators in New York approved a 14 percent increase in medical malpractice insurance rates on Monday and Gov. Eliot Spitzer formed a task force to find ways to rein in the high cost of the coverage.
The state Insurance Department said the latest rate hike was lower than insurance companies wanted and "is necessary to avoid further financial deterioration of the companies and perhaps an irreversible crisis in an already severely distressed market."
Hike in NY medical malpractice insurance rates approved - Newsday.com
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