No. SB 1596
Filed under Healthcare.
Medical Malpractice Liability Coverage; Increasing the minimum amount of professional liability coverage certain physicians and osteopathic physicians, respectively, are required to maintain as a condition of licensure, etc.
Plain English Summary
AI-GENERATEDPhysicians and osteopathic physicians who want to keep hospital staff privileges must now carry professional liability coverage of at least $1 million per claim, up from $250,000, to prove they can pay for malpractice.
The required annual aggregate -- the total a policy must cover across all claims in a year -- rises from $750,000 to $3 million, quadrupling both thresholds at once.
Doctors who instead post an irrevocable letter of credit to prove financial responsibility face the same jump, from $250,000 to $1 million per claim and $750,000 to $3 million in total availability.
AIPhysicians who want to keep hospital staff privileges must carry professional liability coverage of at least $1 million per claim, up from the previous $250,000 minimum.
AIThe minimum annual aggregate a physician's malpractice policy must cover across all claims in a year rises from $750,000 to $3 million.
AIA physician who instead posts an irrevocable letter of credit to prove financial responsibility must now provide at least $1 million per claim and $3 million in aggregate availability, up from $250,000 and $750,000.
AIThe same jump -- $250,000 to $1 million per claim, $750,000 to $3 million aggregate, for both the insurance and letter-of-credit options -- applies to osteopathic physicians under a separate, mirroring statute.