11892
Effective Jan 1, 2004Added by Stats. 2003, Ch. 899, Sec. 3. Effective January 1, 2004.
- (a) The commissioner may order the creation of an unincorporated, not-for-profit, temporary joint underwriting association for liability insurance, constituting a legal entity separate and distinct from all its members. The purpose of the association shall be to provide a market for liability insurance on a self-supporting basis, without subsidy from association members.
- (b) If the commissioner determines after a public hearing that liability insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee the provision of services to residents in long-term health care facilities or residential care facilities for the elderly is readily available through the voluntary market, the association created pursuant to subdivision (a) shall cease its underwriting operations.
- (c) The commissioner may develop appropriate standards and regulations to implement the joint underwriting association authorized by this section.