Section 760 IAC 1-60-6 - Multiple policiesAuthority: IC 34-18-5-2
Affected: IC 34-18-5-2
Sec. 6.
(a) A physician who purchases more than one (1) professional liability insurance policy may pay only one (1) full-time surcharge.(b) A physician shall remit the following surcharge to the PCF for the second policy: (1) If the second policy that is being reported for proof of financial responsibility is at a lower classification than the first policy, the physician shall remit the minimum surcharge set forth in 760 IAC 1-21 to the PCF for the second policy.(2) If the second policy that is being reported for proof of financial responsibility is at a higher classification than the first policy, the physician shall remit the difference between the higher classification surcharge and the lower classification surcharge to the PCF for the second policy.(c) This section does not apply to physicians holding part-time policies or locum tenens policies as the first policy being reported for proof of financial responsibility. A physician shall remit one (1) full-time surcharge on the first policy before calculating the surcharge to be remitted on the second policy.Department of Insurance; 760 IAC 1-60-6; filed 5/18/2018, 2:26 p.m.: 20180613-IR-760180070FRAReadopted filed 11/30/2022, 11:39 a.m.: 20221228-IR-760220302RFA