New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter B - Property and Casualty Insurance
Part 73 - Claims-made Policies; Scope Of Application; Minimum Standards
Section 73.4 - Terms and conditions of medical malpractice policies other than for physicians
Current through Register Vol. 46, No. 12, March 20, 2024
In addition to the requirements contained in section 73.3 of this Part, except subdivisions (f) through (g) of such section, all claims-made medical malpractice policies, other than for physicians, issued or renewed in this State, shall meet the following minimum requirements:
(a) Upon termination of coverage, an insurer must offer the insured an extended reporting period providing coverage for an unlimited time period.
(b) Upon termination of coverage, an insurer shall provide the extended reporting period coverage required by subdivision (a) of this section, without charging an additional premium, if, while covered by the policy, the insured:
(c) Upon termination of coverage, a policy issued to a person must provide, to a hospital whose facilities are used by such person, extended reporting period coverage, as required by subdivision (a) of this section, to protect the interests of such hospital, if such person does not purchase extended reporting period coverage. The insurer shall not charge the hospital a premium for such coverage.
