State Codes and Statutes

Statutes > New-york > Isc > Article-55 > 5505

§  5505.  Rates.  (a)  The  rates,  rating plans, rating rules, rating  classifications, territories and statistics applicable to the  insurance  written  by  the association shall be subject to article twenty-three of  this chapter, giving due consideration to the past and prospective  loss  and  expense experience for medical malpractice insurance written and to  be written in this state,  trends  in  the  frequency  and  severity  of  losses,  the  investment  income  of  the  association,  and  such other  information as the superintendent may require.    (b) All rates shall be on an actuarially sound basis, be calculated to  be self-supporting, be based upon reasonable  standards,  and  may  give  consideration  to  such  factors  as  the  experience  of  the  insured,  geographical area and specialties of practice. The superintendent  shall  take all appropriate steps to make available to the association the loss  and   expense   experience   of   insurers  previously  writing  medical  malpractice insurance in this state. The premiums shall be fixed at  the  lowest possible rates consistent with the maintenance of solvency of the  association and of reasonable reserves and surplus therefor.    (c)  The  association's  rates,  rating plans, rating rules and rating  classifications  may  provide  for  premium  discounts  for  physicians,  dentists,   certified   nurse-midwives,   certified   registered   nurse  anesthetists or podiatrists commencing practice or conducting a  limited  practice as set forth in the plan of operation.    (d) In filing rates, the association may include in its experience the  annuity payments received, the then present value of annuity payments to  which  it  is entitled, and lump sum payments made by the association in  accordance with subdivision (b) of section five thousand  thirty-six  of  the civil practice law and rules.

State Codes and Statutes

Statutes > New-york > Isc > Article-55 > 5505

§  5505.  Rates.  (a)  The  rates,  rating plans, rating rules, rating  classifications, territories and statistics applicable to the  insurance  written  by  the association shall be subject to article twenty-three of  this chapter, giving due consideration to the past and prospective  loss  and  expense experience for medical malpractice insurance written and to  be written in this state,  trends  in  the  frequency  and  severity  of  losses,  the  investment  income  of  the  association,  and  such other  information as the superintendent may require.    (b) All rates shall be on an actuarially sound basis, be calculated to  be self-supporting, be based upon reasonable  standards,  and  may  give  consideration  to  such  factors  as  the  experience  of  the  insured,  geographical area and specialties of practice. The superintendent  shall  take all appropriate steps to make available to the association the loss  and   expense   experience   of   insurers  previously  writing  medical  malpractice insurance in this state. The premiums shall be fixed at  the  lowest possible rates consistent with the maintenance of solvency of the  association and of reasonable reserves and surplus therefor.    (c)  The  association's  rates,  rating plans, rating rules and rating  classifications  may  provide  for  premium  discounts  for  physicians,  dentists,   certified   nurse-midwives,   certified   registered   nurse  anesthetists or podiatrists commencing practice or conducting a  limited  practice as set forth in the plan of operation.    (d) In filing rates, the association may include in its experience the  annuity payments received, the then present value of annuity payments to  which  it  is entitled, and lump sum payments made by the association in  accordance with subdivision (b) of section five thousand  thirty-six  of  the civil practice law and rules.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-55 > 5505

§  5505.  Rates.  (a)  The  rates,  rating plans, rating rules, rating  classifications, territories and statistics applicable to the  insurance  written  by  the association shall be subject to article twenty-three of  this chapter, giving due consideration to the past and prospective  loss  and  expense experience for medical malpractice insurance written and to  be written in this state,  trends  in  the  frequency  and  severity  of  losses,  the  investment  income  of  the  association,  and  such other  information as the superintendent may require.    (b) All rates shall be on an actuarially sound basis, be calculated to  be self-supporting, be based upon reasonable  standards,  and  may  give  consideration  to  such  factors  as  the  experience  of  the  insured,  geographical area and specialties of practice. The superintendent  shall  take all appropriate steps to make available to the association the loss  and   expense   experience   of   insurers  previously  writing  medical  malpractice insurance in this state. The premiums shall be fixed at  the  lowest possible rates consistent with the maintenance of solvency of the  association and of reasonable reserves and surplus therefor.    (c)  The  association's  rates,  rating plans, rating rules and rating  classifications  may  provide  for  premium  discounts  for  physicians,  dentists,   certified   nurse-midwives,   certified   registered   nurse  anesthetists or podiatrists commencing practice or conducting a  limited  practice as set forth in the plan of operation.    (d) In filing rates, the association may include in its experience the  annuity payments received, the then present value of annuity payments to  which  it  is entitled, and lump sum payments made by the association in  accordance with subdivision (b) of section five thousand  thirty-six  of  the civil practice law and rules.