Today we learned of the following medical malpractice insurance news that impacts New York Physicians:
The deal to sell Physicians’ Reciprocal Insurers — the medical malpractice insurance company at the center of the Dean Skelos corruption trial — has fallen apart, according to a source with knowledge of the negotiations.
The Doctors Company, a California-based malpractice insurer, had been pursuing an acquisition of Administrators for the Professions, the company that manages PRI, which is the state’s second-largest carrier. Administrators for the Professions is led by Anthony Bonomo, a prolific political donor, who was a star witness against Skelos.
The state’s Department of Financial Services was examining the deal when The Doctors Company withdrew its offer, according to the source.
The Doctors Company did not respond to a request for comment.
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