18
EXPLANATION - Matter enclosed in bold-faced brackets
[
thus
]
in the above bill
is not enacted and is intended to be omitted in the law.
Matter underlined thus is new matter.
h. Any insurer or insurance association authorized to issue medical
malpractice liability insurance in the State shall notify the Commissioner
of Banking and Insurance, in a form and manner specified by the
commissioner, of any medical malpractice claim settlement, judgment or
arbitration award involving any practitioner licensed by the State Board
of Medical Examiners and insured by the insurer or insurance
association. The notification shall include the specialty or area of
professional practice of the practitioner and the amount of the settlement,
judgment or arbitration award, but shall not include the name or other
identifying information of the practitioner.
(cf:P.L.1989, c.300, s.4)
28. (New section) Notwithstanding any provision of law to the
contrary, every insurer authorized to transact medical malpractice
liability insurance in this State shall, during the period ending on the 91st
day after the effective date of this act, permit a health care professional,
who has a policy issued by that insurer that is in effect on the effective
date of this act: a. to request that the premium for that policy be
recalculated to reflect any cost-savings provisions of this act; and b. to
cancel the policy with a return of the amount of the gross unearned
premium to be returned on a pro rata basis.
Nothing in this section shall be construed to permit an insurer to
increase a premium on a policy that is in effect on the effective date of
this act, during the term of the policy.
29. (New section) For the purposes of sections 29 through ## of this
act:
"Board" means the board established pursuant to subsection a. of
section 30 of P.L. , c. (C. )(pending before the Legislature as this bill).
"Fund" means the Medical Malpractice Insurance Excess Fund
established pursuant to section 30 of P.L. , c. (C. )(pending before the
Legislature as this bill).
"Health care provider" means a physician, podiatrist, dentist and
chiropractor licensed pursuant to the provisions of Title 45 of the
Revised Statutes.
"Insurer" means an entity providing indemnity for health care
providers in actions for medical malpractice, including an insurer
authorized to do business in the State pursuant to R.S. 17:17-1 et seq., a
reciprocal insurer, a captive insurer, or a risk retention group.
30. (New section) a. There is established within the New Jersey
Medical Malpractice Reinsurance Association, established pursuant to
P.L.1975, c.301 (C.17:30D-1 et seq.), the Medical Malpractice Insurance
Excess Fund.
b. The fund shall be comprised of the following revenue:
(1) An annual surcharge of $3 per employee for all employers who
are subject to the New Jersey "Unemployment Compensation Law,"
R.S.43:21-1 et seq. The surcharge shall be collected by the comptroller
for the New Jersey Unemployment Compensation Fund and paid over to
the State Treasurer for deposit in the fund annually, as provided by the
board.
(2) The State Board of Medical Examiners shall assess an annual fee
in the amount of $50 payable by:
(a) each physician licensed in this State pursuant to the provisions of
R.S.45:9-1 et seq., except that physicians holding a certificate of
