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Dynamic Chiropractic – July 13, 1998, Vol. 16, Issue 15

NCMIC Approves 15% Rate Reduction

By Editorial Staff
WEST DES MOINES, Iowa -- The board of directors of the National Chiropractic Mutual Insurance Company (NCMIC) on June 17 announced a 15 percent rate reduction for its policyholders with $500,000/$1 million and $1 million/$3 million limits of liability on the chiropractic malpractice insurance policies. The rate reduction will benefit approximately 60 percent of NCMIC's 25,000 policyholders.

According to Louis Sportelli, DC, NCMIC president, the rate reductions are being filed with all 50 state insurance departments. Pending approval of the rate reduction by each state insurance department, NCMIC policyholders can take advantage of the reduced rates when they renew their annual policies.

"The recent claims experience of our policyholders has helped to significantly impact NCMIC's bottom line," explained Dr. Sportelli. "By improving clinical records, and becoming more sensitive to risk factors that often result in malpractice claims, our claims loss experience by policyholders holding these limits of liability has been reduced."

NCMIC is headquartered in West Des Moines, Iowa, and has been providing malpractice insurance for over 50 years.

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