West Virginia Code 33-20E-8 – State Board of Risk and Insurance Management to exercise board of directors’ powers temporarily; interim plan of operation
(a) Prior to the commissioner's approval of the final plan of operation in accordance with section nine of this article, the administrative powers of the association will be exercised by the state Board of Risk and Insurance Management.
Terms Used In West Virginia Code 33-20E-8
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the joint underwriting association created by this article. See West Virginia Code 33-20E-4
- Board: means the board of directors established pursuant to section six of this article. See West Virginia Code 33-20E-4
- Commissioner: means the Insurance Commissioner of West Virginia. See West Virginia Code 33-20E-4
- Health care provider: means a person, partnership, corporation, facility or institution licensed by, or certified in, this state or another state, to provide health care or professional health care services, including, but not limited to, a physician, osteopathic physician, hospital, dentist, registered or licensed practical nurse, optometrist, podiatrist, chiropractor, physical therapist, or psychologist. See West Virginia Code 33-20E-4
- in writing: includes any representation of words, letters, or figures, whether by printing, engraving, writing, or otherwise. See West Virginia Code 2-2-10
- Member insurer: means every insurer authorized to write and engaged in writing, within this state, casualty insurance, as defined in section ten, article one of this chapter. See West Virginia Code 33-20E-4
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- State board: means the state Board of Risk and Insurance Management. See West Virginia Code 33-20E-4
(b) The state board shall submit to the commissioner an interim plan of operation consistent with the provisions of this article, to become effective and operative upon approval in writing by the commissioner.
(c) If the state board fails to submit a suitable interim plan of operation within thirty days, the commissioner shall adopt an interim plan which shall continue in force until superceded by a final plan of operation, submitted by the board and approved by the commissioner in accordance with section nine of this article.
(d) The interim plan of operation shall provide for economic, fair, and nondiscriminatory administration and for the prompt and efficient provision of professional liability insurance, and shall:
(1) Establish actuarially sound rates and premiums;
(2) Establish procedures for handling assets of the association;
(3) Establish procedures by which claims may be filed with the association and acceptable forms for filing claims;
(4) Establish procedures for records to be kept of all financial transactions of the association;
(5) Establish a procedure by which any member insurer or policyholder aggrieved by a final action or decision of the state board or the board of directors may appeal to the commissioner within thirty days after the action or decision; and,
(6) Contain additional provisions necessary or proper for the execution of the powers and duties of the association.
(e) The interim plan may also provide for:
(1) Assessments of members to defray losses and expenses;
(2) Creation and administration of a reserve fund;
(3) Commission arrangements;
(4) Reasonable and objective underwriting standards; and
(5) Purchase and cession of reinsurance.
(f) A health care provider is not eligible to obtain coverage under the interim plan if he or she refuses, on a regular basis, to accept patients solely because their health care coverage is provided pursuant to the West Virginia public employees insurance act, the West Virginia children's health program, West Virginia Medicaid, or the West Virginia workers' compensation fund.
(g) All member insurers shall comply with the interim plan of operation.