40 Pa. Stat. § 1303.731

Current through P.A. Acts 2023-32
Section 1303.731 - Joint underwriting association
(a) Establishment.--There is established a nonprofit joint underwriting association to be known as the Pennsylvania Professional Liability Joint Underwriting Association. The joint underwriting association shall consist of all insurers authorized to write insurance in accordance with section 202(c)(4) and (11) of the act of May 17, 1921 (P.L. 682, No. 284), known as The Insurance Company Law of 1921, and shall be supervised by the department. The powers and duties of the joint underwriting association shall be vested in and exercised by a board of directors.
(b) Duties.--The joint underwriting association shall do all of the following:
(1) Submit a plan of operation to the commissioner for approval.
(2) Submit rates and any rate modification to the department for approval in accordance with the act of June 11, 1947 (P.L. 538, No. 246), known as The Casualty and Surety Rate Regulatory Act.
(3) Offer medical professional liability insurance to health care providers in accordance with section 732.
(4) File with the department the information required in section 712.
(c) Liabilities.--A claim against or a liability of the joint underwriting association shall not be deemed to constitute a debt or liability of the Commonwealth or a charge against the General Fund.

40 P.S. § 1303.731

Amended by P.L. TBD 2018 No. 41, § 4, eff. 7/23/2018.
2002, March 20, P.L. 154, No. 13, § 731, imd. effective.