§ 42-14-2.1 - Reporting by certain insurers – Settlements.
SECTION 42-14-2.1
§ 42-14-2.1 Reporting by certain insurers– Settlements. – (a) Every insurer providing professional liability insurance to licensedphysicians, dentists, or dental hygienists shall send a complete report to theboard of medical licensure and discipline established pursuant to chapter 37 oftitle 5, or the board of examiners in dentistry established pursuant to chapter31.1 of title 5 and the department of business regulation as to any claim,notice, settlement, judgment, or arbitration award of a claim or action fordamages for death or personal injury caused by such person's negligence, error,or omission in practice or his or her rendering of unauthorized professionalservices. The report shall be sent within thirty (30) days after service ofsuch arbitration award on the parties or notice of the claim, settlement,judgment, or arbitration award.
(b) Notwithstanding any other provision of law, an insurershall have the contractual right to settle any claim up to the limits of thepolicy without the insured's consent, unless the policy by its express termsprohibits the insurer from settling any claim without the consent of theinsured.
(c) All insurers doing business in the state of Rhode Islandin liability insurance for health care professionals, dentists, or dentalhygienists shall file an annual report with the commissioner of insurance. Thisreport must be filed for each year by March 1 of the next year. The informationrequired for each year shall include, for each rating class:
(1) The number of insured;
(2) The total premiums paid;
(3) The total number of claims made, the years in which theincidents giving rise to the claims occurred, and the total number of thoseclaims outstanding at the end of the year;
(4) The total amount of claims paid, the years in which theincidents giving rise to the claims occurred, and the amount of the costs whichcan be identified with these claims for investigation, processing, and defenseof these claims; and
(5) The number of lawsuits filed.