5503 – Plan of Operation.
§ 5503. Plan of operation. (a) The association shall operate in accordance with a plan of operation approved by the superintendent which provides for economic, fair and non-discriminatory administration and for the prompt and efficient provision of medical malpractice insurance. (b) The plan shall contain other provisions including but not limited to preliminary assessment of […]
5504 – Policies.
§ 5504. Policies. (a) No policy form shall be used by the association unless it has been filed with the superintendent and either he has approved it, or thirty days have elapsed and he has not disapproved it as misleading or violative of public policy. (b) (1) Except as provided in paragraph two of this […]
5505 – Rates.
§ 5505. Rates. (a) The rates, rating plans, rating rules, rating classifications, territories and statistics applicable to the insurance written by the association shall be subject to article twenty-three of this chapter, giving due consideration to the past and prospective loss and expense experience for medical malpractice insurance written and to be written in this […]
5506 – Procedures.
§ 5506. Procedures. (a) Any licensed physician, dentist, podiatrist, certified nurse-midwife, certified registered nurse anesthetist or hospital is entitled to apply to the association for coverage pursuant to this article. Application may be made directly to the association by the applicant, in which event no service fee shall be charged. If the applicant authorizes a […]
5507 – Participation.
§ 5507. Participation. (a) Every member of the association shall participate in its writings, expenses, servicing allowance, management fees and losses in the proportion that the net direct premiums of the member (excluding that portion of premiums attributable to the operation of the association) written during the preceding calendar year bears to the aggregate net […]
5508 – Directors.
§ 5508. Directors. (a) The association shall be governed by a board of twenty-one directors. The superintendent or his duly authorized representative shall serve as a non-voting director. Two directors shall be appointed by the governor. Two directors shall be appointed by the temporary president of the senate and two directors shall be appointed by […]
5509 – Stabilization Reserve Fund.
§ 5509. Stabilization reserve fund. (a) The association shall maintain a stabilization reserve fund. The fund shall be used for payment to the association of any deficit, or for reimbursement to the association’s members for payment of any deficit arising out of the operations of the association or for such other purposes as are provided […]
5501 – Definitions.
§ 5501. Definitions. In this article: (a) “Association” means the medical malpractice insurance association. (b) “Medical malpractice insurance” means insurance against legal liability of the insured, and against loss, damage, or expense incident to a claim of such liability arising out of the death or injury of any person due to medical, dental, podiatric, certified […]