State Codes and Statutes
Statutes > Wisconsin > 601 > 601.427601.427
601.427 Medical malpractice insurance reports.601.427(1)
(1) Requirement. Each insurer authorized to write medical malpractice insurance shall file an annual medical malpractice insurance report complying with this section with the commissioner on or before May 1 of each year.601.427(2)
(2) Contents. The report filed under sub. (1) shall contain the name of the insurer and all of the following information for policies covering residents of this state for each group of policies with effective dates within a particular calendar year:601.427(2)(a)
(a) The total dollar amount of premiums earned for medical malpractice insurance coverage both for primary coverage and for excess coverage.601.427(2)(b)
(b) The number of insureds from whom medical malpractice insurance coverage premiums were collected.601.427(2)(c)
(c) The number and amount of all reserves established for all of the following:601.427(2)(c)1.
1. Reported claims other than paid claims.601.427(2)(c)2.
2. Paid claims that have not been paid in full.601.427(2)(c)3.
3. Incurred but not reported claims.601.427(2)(d)
(d) The amounts paid in medical malpractice claims.601.427(2)(e)
(e) Net investment gain or loss and other income gain or loss allocated to medical malpractice insurance, computed by the formula used in the annual insurance expenses exhibit for allocation among lines of business.601.427(2)(f)
(f) The actual expenses attributable to medical malpractice insurance reported as loss adjustment expenses and all other expenses.601.427(2)(g)
(g) Total number of claims reported.601.427(2)(h)
(h) Total claims closed without payment.601.427(2)(i)
(i) Total claims closed with payment.601.427(2)(j)
(j) Total number of legal actions filed.601.427(2)(k)
(k) Total number of verdicts or judgments for defendants.601.427(2)(L)
(L) Total number of verdicts or judgments for plaintiffs.601.427(2)(m)
(m) Total amounts awarded plaintiffs.601.427(2m)
(2m) Basis for reporting. The report filed under sub. (1) shall contain the information required under sub. (2) for each classification used for rating purposes, except that the information required by sub. (2) (c) 3., (e) and (f) shall be reported on a cumulative basis for all classifications.601.427(3)
(3) Other insurance excluded. If medical malpractice insurance coverage includes premises and operations insurance or any other insurance delivered as a part of a package with medical malpractice insurance, only information relating to the medical malpractice insurance portion of the coverage shall be included in the report filed under sub. (1).601.427(4)
(4) Period of report. The report filed under sub. (1) shall provide all required information updated as of the last day of the calendar year preceding the year in which the report is filed. The report shall include required information for policies with effective dates within calendar years beginning with calendar year 1979 and ending with the 2nd calendar year preceding the year in which the report is filed. Effective with filings in 1991, the report shall exclude required information for policies with effective dates within any calendar year commencing more than 11 years prior to January 1 of the year in which the report is filed.601.427(5)
(5) Summary. The commissioner shall provide a summary of the information contained in the 2 most recent filings of reports under sub. (1) in the biennial report to the governor and the legislature under s. 15.04 (1) (d).601.427(6)
(6) Rules, adjustments and exclusions. The commissioner may, by rule, establish the form of the report filed under sub. (1), including the manner of reporting the elements of the report. The commissioner may, by rule, require reports to include information in addition to that specified in this section. The commissioner may adjust the reporting requirements for any insurer for which the requirements of this section are burdensome. The commissioner may determine that no report need be filed if the medical malpractice insurance issued by an insurer is of such a small amount that its reporting would be burdensome to the insurer or would be of no statistical significance.601.427(7)
(7) Public records. Notwithstanding subch. II of ch. 19, the commissioner shall make the reports filed under sub. (1) available to the public in a manner that does not reveal the name of any person involved.601.427(8)
(8) No liability or cause of action. There shall be no liability on the part of and no cause of action shall arise against any insurer for reporting in good faith under this section or any insurer's agents or employees, or the commissioner for any good faith act or omission under this section.601.427(9)
(9) Commissioner's report. Within 2 years after May 25, 1995, and within 2 years thereafter, the commissioner shall submit a report to the legislature in the manner provided under s. 13.172 (2). The reports shall compare the data for the year before May 25, 1995, with the data for the years after May 25, 1995, to evaluate the effects that 1995 Wisconsin Act 10 has had on the following:601.427(9)(a)
(a) The number of health care providers practicing in Wisconsin.601.427(9)(b)
(b) The fees that health care providers pay under s. 655.27 (3).601.427(9)(c)
(c) The premiums that health care providers pay for health care liability insurance.601.427 - ANNOT.
History: 1985 a. 340; 1987 a. 247; 1995 a. 10.