senate Bill S971

2013-2014 Legislative Session

Relates the conversion of domestic reciprocal medical malpractice insurers and the premium rates and surcharges for medical malpractice insurance

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to insurance
Jan 09, 2013 referred to insurance

S971 - Details

Current Committee:
Law Section:
Insurance Law
Laws Affected:
Amd §§7308 & 5502, Ins L; amd §40, Chap 266 of 1986
Versions Introduced in 2011-2012 Legislative Session:
S7388

S971 - Summary

Relates to the conversion of domestic reciprocal medical malpractice insurers and the premium rates and surcharges for medical malpractice insurance.

S971 - Sponsor Memo

S971 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   971

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to  reciprocal  insurance
  companies,  and  medical malpractice premium rates and surcharges; and
  to amend chapter 266 of the laws of 1986, amending the civil  practice
  law  and rules and other laws relating to malpractice and professional
  medical conduct, in relation to medical malpractice premium rates  and
  surcharges

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 7308 of the insurance law is  amended  to  read  as
follows:
  S   7308.  Conversion  of  domestic  reciprocal  insurers  into  stock
property/casualty insurance companies. (a) AS USED IN THIS ARTICLE:
  (1) "DOMESTIC RECIPROCAL MEDICAL MALPRACTICE INSURER" MEANS ANY DOMES-
TIC RECIPROCAL INSURER ORGANIZED PURSUANT TO ARTICLE SIXTY-ONE  OF  THIS
CHAPTER  FOR  WHICH,  IN  THE YEAR ENDING DECEMBER THIRTY-FIRST PRIOR TO
CONVERTING TO A STOCK  PROPERTY/CASUALTY  INSURANCE  COMPANY,  AT  LEAST
NINETY PERCENT OF ITS PREMIUM WRITINGS WERE DERIVED FROM INSURING PHYSI-
CIANS OR DENTISTS WHO HAD AN ACADEMIC APPOINTMENT AT ANY STATE UNIVERSI-
TY  OF  NEW  YORK  MEDICAL  SCHOOL  OR  FACILITY, OR WHO HAD AN ACADEMIC
APPOINTMENT AT NEW YORK MEDICAL COLLEGE;
  (2) "CLINICAL PRACTICE PLAN" MEANS (A) A  CLINICAL  PRACTICE  PLAN  AS
DEFINED  IN  SUBPARAGRAPH (III) OF PARAGRAPH (B) OF SUBDIVISION FOURTEEN
OF SECTION TWO HUNDRED SIX OF THE PUBLIC HEALTH LAW AND  WHICH  PLAN  IS
SUBJECT  TO  REGULATION  BY  THE  BOARD  OF REGENTS, AND (B) WESTCHESTER
MEDICAL CENTER.
  (B)  Any  domestic  reciprocal  insurer  doing  business   under   the
provisions  of  this  article may, EITHER (1) by the affirmative vote of
its subscribers holding two-thirds  of  its  operating  reserve  accumu-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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