§ 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 […]
§ 5502. Medical malpractice insurance association. (a) The medical malpractice insurance association is continued consisting of all insurers authorized to write and engaged in writing, within this state, on a direct basis, personal injury liability insurance but excluding assessment cooperative fire insurance companies transacting business pursuant to article sixty-six of this chapter. Every such insurer […]
§ 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. (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. (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. (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. (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. (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. (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 […]
§ 5510. Appeals. Any applicant to the association, any person insured under this article, or their representatives, or any affected insurer, may appeal to the superintendent within thirty days after any ruling, action or decision by or on behalf of the association, with respect to those items the plan of operation defines as appealable matters.
§ 5511. Annual statement. (a) The association shall annually file a statement in the office of the superintendent on or before the first day of March. The statement shall be in a form approved by and contain information prescribed by the superintendent with respect to its transactions, condition, operations and affairs during the preceding year. […]
§ 5512. Examinations. (a) The superintendent shall make an examination into the affairs of the association at least annually. The examination shall be conducted and the report filed in the manner prescribed in article three of this chapter. (b) The expenses of the examination shall be paid by the association in the manner prescribed by […]
§ 5513. Immunity. No liability or cause of action shall exist against the association, its agents or employees, the superintendent or his authorized representatives or any licensed agent or broker for any statements made in good faith by them during any proceedings or concerning any matters within the scope of this article.
§ 5515. Federal program. In addition to any other powers conferred upon him by this or any other law, the superintendent is authorized to do all things necessary to enable this state, the association and members and policyholders of the association to participate fully in any federal program of reinsurance adopted for purposes similar to […]
§ 5516-d. Further transfer of association funds. Notwithstanding any other provision of law, the association and all officers and directors with responsibility for custody or investment of the association’s assets are authorized and directed to further transfer and deposit six million dollars to the credit of the medical assistance program general fund – local assistance […]
§ 5516-f. Further transfer of moneys of the association. (a) Notwithstanding any other provision of law, the association and all officers and directors with responsibility for custody or investment of the association’s assets are authorized and directed to further transfer and deposit two hundred fifty million dollars to the miscellaneous special revenue fund on or […]
§ 5517. Transfer of association funds; reinsurance evaluation. (a) In the event that the association has not caused the transfer of certain assets on or before May first, nineteen hundred ninety-two, pursuant to the provisions of section fifty-five hundred sixteen of this article, the board shall undertake an evaluation of the procurement of reinsurance, upon […]
§ 5517-a. Return of association premium. (a) Notwithstanding any inconsistent provision of this chapter or any other law to the contrary, if the superintendent determines, for policies of excess coverage or equivalent excess coverage issued by the association and purchased on behalf of eligible participating physicians and dentists, that the rates established pursuant to subdivision […]
