Nebraska Administrative Code
Topic - INSURANCE, DEPARTMENT OF
Title 210 - NEBRASKA DEPARTMENT OF INSURANCE
Chapter 32 - NEBRASKA HOSPITAL-MEDICAL LIABILITY ACT EXCESS LIABILITY FUND RESIDUAL MALPRACTICE INSURANCE AUTHORITY
Section 210-32-005 - Surcharge premium
Current through March 20, 2024
005.01 As required by Neb.Rev.Stat. § 44-2829 of the Act, all health care providers who have qualified under the Act shall contribute to the Excess Liability Fund. The surcharge is due and payable within 30 days after the health care provider has provided proof of financial responsibility to the Director and annual thereafter in such amounts as may be determined by the Director.
005.02 As required by Neb.Rev.Stat. §44-2830, effective on January 1 of each year, the Director shall adjust the amount of the surcharge to maintain the Excess Liability Fund at a level which is sufficient to pay all anticipated claims for the next year and to maintain an adequate reserve for future claims. Prior to making such adjustment, the Director shall conduct a public hearing concerning the proposed adjustment and shall give due regard to the size of the existing Fund, the number and size of potential claims against the Fund, the number of participating providers, and other pertinent factors utilizing sound actuarial principles. Any decrease in the annual surcharge percentage shall not operate to entitle a health care provider to a refund of any portion of the previously paid surcharge.
