§33-20E-8 State board of risk and insurance management to exercise board of directors' powers temporarily; interim plan of operation
§33-20E-8. State board of risk and insurance management to exercise board of directors' powers temporarily; interim plan of operation.
(a) Prior to the commissioner's approval of the final plan of operation in accordance with section nine of this article, the administrative powers of the association will be exercised by the state board of risk and insurance management.
(b) The state board shall submit to the commissioner an interim plan of operation consistent with the provisions of this article, to become effective and operative upon approval in writing by the commissioner.
(c) If the state board fails to submit a suitable interim plan of operation within thirty days, the commissioner shall adopt an interim plan which shall continue in force until superceded by a final plan of operation, submitted by the board and approved by the commissioner in accordance with section nine of this article.
(d) The interim plan of operation shall provide for economic, fair, and nondiscriminatory administration and for the prompt and efficient provision of professional liability insurance, and shall:
(1) Establish actuarially sound rates and premiums;
(2) Establish procedures for handling assets of the association;
(3) Establish procedures by which claims may be filed with the association and acceptable forms for filing claims;
(4) Establish procedures for records to be kept of all financial transactions of the association;
(5) Establish a procedure by which any member insurer or policyholder aggrieved by a final action or decision of the state board or the board of directors may appeal to the commissioner within thirty days after the action or decision; and,
(6) Contain additional provisions necessary or proper for the execution of the powers and duties of the association.
(e) The interim plan may also provide for:
(1) Assessments of members to defray losses and expenses;
(2) Creation and administration of a reserve fund;
(3) Commission arrangements;
(4) Reasonable and objective underwriting standards; and
(5) Purchase and cession of reinsurance.
(f) A health care provider is not eligible to obtain coverage under the interim plan if he or she refuses, on a regular basis, to accept patients solely because their health care coverage is provided pursuant to the West Virginia public employees insurance act, the West Virginia children's health program, West Virginia medicaid, or the West Virginia workers' compensation fund.
(g) All member insurers shall comply with the interim plan of operation.