Louisiana Administrative Code
Title 37 - INSURANCE Part
Part III - Patient's Compensation Fund Oversight Board
Chapter 5 - Enrollment with the Fund
Section III-505 - Financial Responsibility: Insurance
Current through Register Vol. 50, No. 9, September 20, 2024
A. A health care provider shall be deemed to have demonstrated the financial responsibility requisite to enrollment with the fund by submitting certification in the form of a certificate of insurance or policy declaration page that the health care provider is or will be insured on a specific date under a policy of insurance, insuring the health care provider against professional malpractice liability claims with indemnity limits of not less than $100,000, plus interest per claim, aggregate annual indemnity limits of not less than $300,000 plus interest for all claims arising or asserted within a 12-month policy period.
B. To be acceptable as evidence of financial responsibility pursuant to §505, an insurance policy:
C. The certification required by §505. A shall be issued and executed by an officer or authorized agent of the applicant health care provider's insurer and shall specifically identify the policyholder, the named insureds under such policy, the policy period, the limits of coverage, any exclusions, and any applicable deductible or uninsured retention. Upon request by the executive director, such certification shall be accompanied by a complete specimen copy of the applicable policy, or identification of the specific policy form if such form has previously been filed with and approved by the executive director.
D. Upon request, the executive director shall advise applicants as to whether any specified policy form has been approved pursuant to §505, or provide a list of all policy forms so approved.
E. The insurance coverage required by this rule to demonstrate the requisite financial responsibility for qualification with the fund shall be deemed to be continuing without a lapse in coverage by the fund, provided that the health care provider meets the premium payment conditions of the underlying coverage and timely meets the surcharge payment conditions of §711-713 of these rules, as applicable.
AUTHORITY NOTE: Promulgated in accordance with R.S. 40:1299.44(D)(3).