New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter V - Rates And Rating Organizations
Subchapter B - Commercial And Industrial Risks
Part 152 - Physicians And Surgeons Professional Insurance Merit Rating Plan
Section 152.2 - Definitions
Current through Register Vol. 46, No. 39, September 25, 2024
As used in this Part:
(a) The term claim shall mean written notice or demand upon the insured, including suit, filed by a claimant or other person acting on behalf of the claimant, and received by the insurer, that alleges injuries or damages sustained from an incident. A single incident may result in no more than one chargeable loss for each physician.
(b) The term chargeable loss shall mean: for claims closed prior to July 1, 1981, the sum of all indemnity payments on any one closed claim must be at least $15,000 for claims closed or outstanding on or after July 1, 1981, the sum of all indemnity payments on any one closed or outstanding claim must be at least $30,000.
(c) The term physician, when used in connection with the Excess Medical Malpractice Risk Management Program, shall mean a physician, surgeon or dentist participating in the Excess Medical Malpractice Insurance Program.
(d) The term Excess Medical Malpractice Program means the program established by section 19 of chapter 294 of the Laws of 1985, as extended by section 18 of chapter 266 of the Laws of 1986, as amended.
(e) The term insurer includes the plan established pursuant to Part 430 (Regulation 170) of this Title.
