Insurance Regulation 21 - Medical Malpractice Joint Underwriting Association of Rhode Island
230-RICR-20-10-1 INACTIVE RULE
| Title | 230 | Department of Business Regulation (includes the Office of the Health Insurance Commissioner) |
| Chapter | 20 | Insurance |
| Subchapter | 10 | Medical Malpractice Insurance |
| Part | 1 | Insurance Regulation 21 - Medical Malpractice Joint Underwriting Association of Rhode Island |
| Type of Filing | Amendment |
| Regulation Status | Inactive |
| Effective | 08/15/2007 to 11/24/2013 |
Regulation Authority:
R.I. Gen. Laws §§ 42-14-17, 42-35-2, 42-35-3
Purpose and Reason:
The Department adopts these amendments in order to change the Examination requirements of the Regulation. There is no difference between the text of the proposed regulation as published in accordance with R.I. Gen. Laws § 42-35-3 and the regulation, as adopted, other than editing changes. The Department did receive a comment requesting that the proposed amendment not be adopted. The Department has considered the comment however and has concluded that its current regulation of the MMJUA outside of the mandatory financial examination is sufficient to satisfy the concerns. As noted by the Commenter, the Department has wide ranging authority over the MMJUA that it will continue to implement. Additionally, MMJUA is subject to quarterly financial analysis and the Department retains the right to conduct more frequent financial examinations should financial analysis or other information indicate that it is warranted.
