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 430.7 - Alternative mechanism

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 430.7

Current through Register Vol. 46, No. 39, September 25, 2024

(a) The provisions of sections 430.2 through 430.6 of this Part shall not become effective if, prior to June 30, 2000 the superintendent approves one or more insurers in the voluntary market to provide medical malpractice insurance to all eligible health care providers.

(b) Such insurer must agree to:

(1) provide coverage for policy year July 1, 2000 - June 30, 2001 using policies with provisions and rates which are at least as favorable to the insured as those which would have been provided by the MMIA had that association not been dissolved; and

(2) notify the superintendent at least 180 days in advance, of its intent to cease providing medical malpractice insurance to all eligible health care providers.

(c) The superintendent may order the suspension or discontinuance of the operations of the plan at any time after July 1, 2000, following the approval of one or more insurers as described in subdivision (a) of this section.

(d) The plan shall be activated, or reactivated, at any time after July 1, 2000 if all insurers in the voluntary market approved by the superintendent pursuant to subdivision (a) of this section provide the notice provided for in paragraph (b)(2) of this section.

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