The Oklahoma Insurance Department reported that a requested rate increase for medical professional liability insurance carrier NCMIC Insurance Company has been approved.
NCMIC applied for a rate increase in August 2004, seeking to raise its rates by 23.2 percent with an effective date of Oct. 1.
The department 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.
Topics Trends Carriers Pricing Trends Oklahoma
Was this article valuable?
Here are more articles you may enjoy.
How a Perfect Storm Sent Church Insurance Rates Skyrocketing 
Soccer Officials Arrested After Melee That Damaged Hard Rock Stadium in Miami 
How California’s Homeowners Insurance Crisis Is Affecting Brokers 
Allstate, State Farm Sued Over $4 Billion Maui Fire Settlement 
