NY S08274

Creates a non-profit Physicians and Surgeons Data Collection and Advisory Association requiring all insurers writing physician malpractice insurance in New York to be members as a condition of authority to transact business.

Association shall collect and compile physicians and surgeons medical malpractice premium, exposure, loss and expense statistics, and provide rate information to the superintendent; association will assess members based on direct written premiums to fund operations.

Establishes a seven-member governing body comprising three insurer representatives, one plan representative, and three superintendent-appointed representatives for injured parties, physicians and surgeons, and hospitals; includes an independent casualty actuary on the actuarial committee.

Requires the medical malpractice insurance pool to submit a plan by August 31, 2010 to operate its closed book (liabilities from policies issued July 1, 2000 through June 30, 2010); superintendent may assess liability insurers up to 0.5 percent of net direct written premiums to fund shortfalls.

Creates the Medical Malpractice Insurance Fund in the state comptroller's custody to receive assessments from insurance companies and pay claims and expenses for the closed book of medical malpractice policies issued through the pool from July 2000 through June 2010.