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 430.8 - Temporary administrator
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 430.8
Current through Register Vol. 46, No. 39, September 25, 2024
(a) In order to provide for the orderly transition of policies from the MMIA to the plan, and to avoid disruption in the medical malpractice insurance market, the superintendent may appoint one or more insurers writing medical malpractice insurance in this State as a temporary administrator, to act on behalf of the plan for the period beginning June 30, 2000 until such time as the plan becomes operational.
(b) The temporary administrator shall have the authority, on behalf of the plan, to:
(1) accept applications and deposit premiums
from prospective insureds; and
(2)
issue binders evidencing insurance.
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