PCF Fund Increase in October 2016
Based on the actuarial report of the Patient Compensation Fund, under New Mexico Medical Malpractice act, the PCF fund balance is currently $36.573M, shie of the $73.3M to be actuarially sound. The decrease is primarily due to several large batched settlement cases, with multiple occurrences.
The Superintendent of Insurance has issued a bulletin, raising the PCF contribution 8.7% October 1, 2016 and 8.7% October 1, 2017. This is a blended rate (primary carrier and PCF) of approximately 3% or $300 on primary care physician. This is the 4th increase since 1992. The Superintendent notice follows:
As a provider of primary medical professional liability coverage for providers that are in the New Mexico Patient’s Compensation Fund (PCF), we wish to alert you to Insurance Bulletin 2016-008 which was issued on March 30, 2016 and which provides surcharge increases that will become effective October 1, 2016 and October 1, 2017. The Bulletin can be viewed at
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