New York State
Insurance Department


ISSUED: 3/15/2000

FOR IMMEDIATE RELEASE

DEPARTMENT TO HOLD PUBLIC HEARING ON DISSOLUTION PLAN
OF MEDICAL MALPRACTICE INSURANCE ASSOCIATION            

            Superintendent of Insurance Neil D. Levin announced today that the Department will hold a public hearing on Wednesday, March 29th to review the Department’s proposed plan for the dissolution of the Medical Malpractice Insurance Association (MMIA), as well as dissolution plans proposed by other interested parties.

            The hearing, pursuant to Part JJ of Chapter 407 of the Laws of 1999, will begin at 10:00 am on March 29th at:

The New York State Insurance Department
25 Beaver Street
5th Floor Hearing Room
New York, NY 10004

            Superintendent Levin is required to approve a dissolution plan by April 30th, that maximizes the value of MMIA to the state, without impairing or impeding the operation of the voluntary medical malpractice insurance market or limiting the access to medical malpractice coverage for health care practitioners or facilities insured by the MMIA.

            In addition, the Department will seek input regarding distribution to authorized medical malpractice insurers for the insureds of MMIA and health care practitioners and facilities, which will otherwise be unable to secure coverage in the voluntary market. A regulation prescribing a plan for this equitable distribution, which will be the subject of a public hearing to be held at a later date, must be promulgated prior to July 1st.

            A copy of the Superintendent’s plan and all other plans will be available from the Department after March 24th. To obtain copies, contact Ellen Wenz at the New York State Insurance Department, 25 Beaver Street, New York, NY, 10004.

            Those wishing to testify should contact Ellen Wenz at (212) 480-5262 by March 27th. Those who wish to testify should limit their remarks to 15 minutes and provide a written copy of their testimony at the hearing to assist the Department in its review.

            Those unable to attend the hearing may submit written statements for inclusion in the official record to Ellen Wenz at the Department’s New York City address. The official record will be open until April 3, 2000.


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