§ 519a-3

519A.3 Temporary joint underwriting association. 1. A temporary joint underwriting association is created, consisting of all insurers authorized to write and engaged in writing on a direct basis within this state liabilityinsurance, including insurers covering such peril in multiple peril policies. Every such insurer shall be a member of the association and shall remain a member as a condition of itsauthority to continue to write liability insurance in this state. 2. The purpose of the association shall be to provide, for a period not exceeding two years, a market for medical malpractice insurance on a self-supporting basis without subsidy fromits members. 3. a. The association shall not commence underwriting operations for health care providers until the commissioner, after notice and opportunity for hearing, has determinedthat medical malpractice insurance is not available at a reasonable cost for a specific typeof licensed health care provider in the voluntary market. Upon such determination theassociation shall be authorized to issue policies of medical malpractice insurance for suchspecific type of health care provider but need not be the exclusive agency through whichsuch

etermination theassociation shall be authorized to issue policies of medical malpractice insurance for suchspecific type of health care provider but need not be the exclusive agency through whichsuch insurance may be written on a primary basis in this state. b. If the commissioner determines at any time that medical malpractice insurance can be made available in the voluntary market at a reasonable price for any specific type of licensedhealth care provider, the association shall thereby cease underwriting medical malpracticeinsurance for that type of licensed health care provider. 4. The association shall, subject to the terms and conditions of section 519A.2, this section, and sections 519A.4 through 519A.13, have and exercise the following powers on behalf ofits members: a. To issue, or to cause to be issued, policies of insurance to applicants, including incidental coverages and subject to limits as specified in the plan of operation but not toexceed one million dollars for each claimant under one policy and three million dollars forall claimants under one policy in any one year. b.

to limits as specified in the plan of operation but not toexceed one million dollars for each claimant under one policy and three million dollars forall claimants under one policy in any one year. b. To underwrite such insurance and to adjust and pay losses with respect thereto, or to appoint service companies to perform those functions. c. To assume reinsurance from its members.d. To cede reinsurance.[C77, 79, 81, §519A.3]2012 Acts, ch 1023, §157; 2016 Acts, ch 1073, §152Referred to in §519A.1, 519A.2, 519A.4, 519A.5, 519A.10, 519A.13 Sat Dec 23 00:51:48 2023 Iowa Code 2024, Section 519A.3 (17, 0)