HOUSE AMENDMENT Bill No. HB 63B
1	CHAMBER ACTION
2	Senate House
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12	Representative Ambler offered the following:
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14	Amendment
15	Remove lines 1395-1419, and insert:
16	(5) PREMIUMS; ASSESSMENTS.--
17	(a) The facility shall charge the actuarially indicated
18	premium for the coverage provided and shall retain the services
19	of consulting actuaries to prepare its rate filings. The
20	facility shall not provide dividends to policyholders, and, to
21	the extent that premiums are more than the amount required to
22	cover claims and expenses, such excess shall be retained by the
23	facility for payment of future claims. In the event of
24	dissolution of the facility, any amounts not required as a
25	reserve for outstanding claims shall be transferred to the
26	policyholders of record as of the last day of operation.
27	(b) To ensure that the facility has the funds to pay
28	claims, the facility shall receive:
29	1. From each judgment awarded and settlement agreed to in
30	the state after July 1, 2003, a surcharge of 1 percent shall be
31	deposited into a separate account for guaranteeing payment of
32	claims.
33	2. A surcharge of $200 on each medical malpractice policy
34	issued or renewed after July 1, 2003.
35	(c) The premiums charged by the facility shall be no
36	greater than 125 percent of the market price for similar
37	products.
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