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 430.3 - Standards for forms and rates

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 430.3

Current through Register Vol. 46, No. 12, March 20, 2024

(a) All policy forms and endorsements shall be subject to prior approval pursuant to section 2307 of the Insurance Law, and, except as provided in subdivision (b) of this section, all rates, rating plans, or rating classifications or territories of the plan shall be subject to prior approval pursuant to section 2305 of the Insurance Law.

(b) Rates for physicians and surgeons are subject to establishment by the superintendent pursuant to section 40 of chapter 266 of the Laws of 1986, as amended.

(c) For policy year July 1, 2000 through June 30, 2001, all insureds of the plan must receive policies with provisions and at a rate which are at least as favorable to the insured as those which would have been provided by the MMIA had that association not been in the process of dissolution. For physicians and surgeons, the rates will be those established for the MMIA for the period July 1, 2000 through June 30, 2001 in Part 70 of this Title (Regulation 101).

(d) Cancellation and nonrenewal of policies issued by the plan shall be in accordance with the provisions of section 5504 of the Insurance Law.

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