An Act To Provide for Transparency in Insurance Rate Proceedings
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 24-A MRSA §2304-C, sub-§3, as enacted by PL 1991, c. 377, §11, is repealed.
Sec. 2. 24-A MRSA §2304-C, sub-§5, as enacted by PL 1991, c. 377, §11, is repealed.
Sec. 3. 24-A MRSA §2304-C, sub-§5-A is enacted to read:
5-A. Public access. Immediately after receiving a filing under this section, the superintendent shall grant access to the filing to the public.
Sec. 4. 24-A MRSA §2304-C, sub-§6, as enacted by PL 1991, c. 377, §11, is amended to read:
6. Public hearing. The superintendent may hold a public hearing on any filing and shall hold a public hearing on a filing requesting a rate increase of more than 5%, as provided in sections 229 to 235. At the request of any a person described in subsection 5 who pays premiums for physicians and surgeons liability coverage to the company that made the filing or a person or organization that represents a group of persons who pay premiums for physicians and surgeons liability coverage to the company that made the filing, the superintendent shall, as required by section 229, hold a public hearing on the filing.
summary
This bill requires the Superintendent of Insurance to make medical malpractice filings open to the public and to hold a public hearing for any filing requesting a rate increase of over 5%.