There are two medical malpractice insurers in NY. PRI and MLMIC. PRI is now insolvent. This leaves one solvent malpractice insurer in NY.
We went from an oligopoly to a monopoly.
This has happened all across the country. Malpractice insurers have consolidated so that now almost every state now only has two insurers…every state is now an oligopoly.
It blows my mind that the government will spend hundreds of millions of dollars going after Microsoft’s Internet Explorer, but turn their eyes when it comes to something as costly and important as medical malpractice.
As the days go by and the news comes trickling in exposed by the self-publishing and rapid propagation that is the internet, I’m finding myself coming closer and closer to thinking our government and our leaders are just one big joke and we’re all just laughing along.