N.J. Admin. Code § 11:27-3.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:27-3.2 - Mandated deductible amounts

(a) All insurers authorized to transact medical malpractice liability insurance in this State shall include in their offered medical malpractice liability insurance policies a range of at least five deductible amounts applicable to indemnity only, with the selection of the deductible to be at the option of the insured. The offered deductibles shall range from at least $5,000 per claim on all policies regardless of the liability limits and up to $1,000,000 per claim on policies with liability limits of at least $1,000,000/$3,000,000. Any medical malpractice liability insurance policy that contains a provision that includes defense costs within policy limits shall conform to the standards set forth in N.J.A.C. 11:13-7.3(c).

1. Examples of deductibles which may be included in the range of five deductibles to be offered as set forth above are:

$5,000 per incident, $15,000 annual aggregate deductible

$10,000 per incident, $30,000 annual aggregate deductible

$25,000 per incident, $75,000 annual aggregate deductible

$50,000 per incident, $150,000 annual aggregate deductible

$100,000 per incident, $300,000 annual aggregate deductible

$150,000 per incident, $450,000 annual aggregate deductible

$200,000 per incident, $600,000 annual aggregate deductible

$250,000 per incident, $750,000 annual aggregate deductible

$500,000 per incident, $1.5 Million annual aggregate deductible

$750,000 per incident, $2.25 Million annual aggregate deductible

$1 Million per incident, $3 Million annual aggregate deductible

Intermediate deductible amounts shall be interpolated accordingly.

N.J. Admin. Code § 11:27-3.2