Introduced By: Representatives Benoit and Costantino
Date Introduced : February 3, 1998
It is enacted by the General Assembly as follows:
SECTION 1. Section 42-14-2.1 of the General Laws in Chapter 42-14 entitled "Department of Business Regulation" is hereby amended to read as follows:
42-14-2.1. Reporting by certain insurers -- Settlements. -- (a) Every insurer providing professional liability insurance to licensed physicians, dentists, or dental hygienists shall send a complete report to the board of medical licensure and discipline established pursuant to chapter 37 of title 5, or the board of examiners in dentistry established pursuant to chapter 31.1 of title 5 and the department of business regulation as to any claim, notice, settlement, judgment, or arbitration award of a claim or action for damages for death or personal injury caused by such person's negligence, error, or omission in practice or his or her rendering of unauthorized professional services. The report shall be sent within thirty (30) days after service of such arbitration award on the parties or notice of the claim, settlement, judgment, or arbitration award.
(b) Notwithstanding any other provision of law, an insurer shall have the contractual right to settle any claim up to the limits of the policy without the insured's consent {ADD unless the policy by its express terms prohibits the insurer from settling any claim without the consent of the insured ADD}.
(c) All insurers doing business in the state of Rhode Island in liability insurance for health care professionals, dentists, or dental hygienists shall file an annual report with the commissioner of insurance. This report must be filed for each year by March 1 of the next year. The information required for each year shall include, for each rating class:
(1) The number of insured;
(2) The total premiums paid;
(3) The total number of claims made, the years in which the incidents giving rise to the claims occurred, and the total number of those claims outstanding at the end of the year;
(4) The total amount of claims paid, the years in which the incidents giving rise to the claims occurred, and the amount of the costs which can be identified with these claims for investigation, processing, and defense of these claims; and
(5) The number of lawsuits filed.
SECTION 2. This act shall take effect upon passage.
