N.Y. Comp. Codes R. & Regs. tit. 11 § 152.5

Current through Register Vol. 46, No. 50, December 11, 2024

Section 152.5 - Amount and application of risk management premium credits

(a) Insurers may file, for approval by the superintendent, a premium credit of up to five percent for insured physicians who successfully complete a qualified risk management program.

(b)

(1) The premium credit shall be effective with the next anniversary date of the policy following completion of the basic course of the risk management program. However, if an insured completes the risk management course within 60 days after the policy anniversary date, the credit may be applied retroactively to that anniversary date.

(2) Where a policy is paid for on other than an annual basis insurers may provide for the risk management premium credit to become effective on the premium due date next following completion of the basic course.

(3) Premium credits after the second year following the insured's first receiving the premium credit may only be applied if the insured successfully completes the follow-up course as provided in section 152.6(e) of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 152.5