New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XX - Medical Malpractice Residual Market
Part 430 - Mechanism For The Equitable Distribution Of Insureds Unable To Obtain Medical Malpractice Insurance
Section 430.2 - Organization of the new york medical malpractice insurance plan
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 430.2
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Except as provided in section 430.7 of this Part, there shall be created the New York Medical Malpractice Insurance Plan (plan), a mechanism for providing medical malpractice insurance to all eligible health care providers who are unable to secure coverage in the voluntary market after June 30, 2000.
(b) All insurers licensed in New York writing, or that begin writing, medical malpractice insurance in New York on a direct basis after June 30, 2000, shall be members of the plan.
(c) The plan shall:
(1) accept applications from eligible health
care providers and assign applicants to members as determined in its plan of
operations; and
(2) develop, and
submit to the superintendent for approval:
(i)
policy forms and endorsements, on both an occurrence and claims-made basis;
and
(ii) a manual or manuals
containing:
(a) classifications, territories,
rates and rating plans;
(b) limits
and deductibles to be offered to insureds; and
(c) underwriting rules and
procedures.
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