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 152.5 - Amount and application of risk management premium credits
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 152.5
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Insurers may file, for approval by the superintendent, a premium credit of up to five percent for insured physicians who successfully complete a qualified risk management program.
(b)
(1) The premium credit shall be effective
with the next anniversary date of the policy following completion of the basic
course of the risk management program. However, if an insured completes the
risk management course within 60 days after the policy anniversary date, the
credit may be applied retroactively to that anniversary date.
(2) Where a policy is paid for on other than
an annual basis insurers may provide for the risk management premium credit to
become effective on the premium due date next following completion of the basic
course.
(3) Premium credits after
the second year following the insured's first receiving the premium credit may
only be applied if the insured successfully completes the follow-up course as
provided in section
152.6(e) of this
Part.
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