Stop Paying High Insurance Rates Become Self Insured 2013
Other Self Insured Programs Available Nationwide
ICC has a self- insured plan, specifically for doctors surgeons, businesses and other professionals who want to keep their malpractice and professional liability rates under control, specifically in areas of :
Medical Mal Practice / Product Liability
ICC is not out to make a profit from professionals and manufacturers like insurance companies are. ICC, under the self-Insurance plan is only paid for administrative fees. This drastically reduces your cost.
If you have an interest in creating a self insured plan, please fill out the response form and a representative will contact you directly to explain how to become self- insured. Or, call ICC at 1 (316) 683-0170.
A Self-Insurance plan is the alternative to paying high insurance rates. ICC will help you meet state liability requirements and will write your self insured policy for your practice as well as administrator claims for your company. .
Call ICC today and keep what is rightfully yours.
Your cost will be less than what you are paying now.
The Office of General Counsel issued the following opinion on January 29, 2004, representing the position of the New York State Insurance Department.
Re: Investments by Hospital Medical Malpractice Self-Insurance Fund
Does the Insurance Law impose any restrictions on the type of investments that a New York State hospitalís medical malpractice self-insurance fund may make?
The Insurance Law imposes no restrictions on the type of investments that a New York State hospitalís medical malpractice self-insurance fund may make.
The inquiry is general in nature.
The inquirer asks whether the Insurance Law or regulations contain any restrictions on how the funds maintained in a New York State hospitalís medical malpractice self-insurance fund may be invested. Generally, a self-insurer is a person, firm or corporation that chooses to fulfill a potential legal liability in a manner that does not involve the purchasing of insurance coverage for such liability. Therefore, by definition, self-insurance involves the "protection against loss by setting aside oneís own money." See, Barrons Dictionary of Insurance Terms 460 (4th ed. 2000).
As a rule, such activities do not fit within the definition of doing an insurance business in N.Y. Ins. Law ß 1101 (McKinney Supp. 2004). The Insurance Law does not require self-insurers to obtain licenses to self-insure their own liability. Thus, they are not regulated by the Department and are not required to comply with the provisions of the Insurance Law and regulations,1 including the provisions relating to investment by insurers.
This opinion is limited to an interpretation of the Insurance Law and Regulations. No opinion is herein given regarding any other New York State law or regulation.
For further information you may contact Associate Attorney D. Monica Marsh at the New York City Office.
ICC services include:
Risk Management, Researching Self Insurance Problems,
Claims Writing, Claims Handling,
Insurance Claims Training, Third Party Administration,
Workers' Compensation, Property,
Casualty, Fraud, ERISA, Health Insurance Claims,
Accident and Injury Reconstruction,
Professional Liability Underwriting Product Liability
. . . and a host of other self insurance services that ICC offers.
Select the Button for the Response Form provided below. Fill out the information and electronically forward to ICC and an experienced consultant will contact you.
Or contact the Main Office directly . . .
"CLICK HERE" FOR THE RESPONSE FORM
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