17:30D-2. Purpose; application to medical malpractice liability insurance
146 words·~1 min read·
/nj/title-17/chapter-30d/17-30d-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
a. The purpose of this act is to assure that medical malpractice liability insurance is readily available to licensed medical practitioners and health care facilities by establishing a reinsurance association, requiring the association to reinsure medical malpractice liability insurance policies issued by certain providers and permitting the association to write such policies on a direct basis, to determine when the association has sustained a deficit, and to provide for recoupment of losses resulting from the operation of the association through surcharges on insureds and to grant the Commissioner of Insurance temporary emergency powers to set up and operate the reinsurance association if such insurance is unavailable for any class of licensed medical practitioners or health care facilities.
b. This act shall apply to medical malpractice liability insurance as defined herein.
L.1975, c. 301, s. 2, eff. Jan. 30, 1976. Amended by L.1978, c. 153, s. 1.