Documents Relating to the New Hampshire Medical Malpractice Joint Underwriting Association Plan (NHMMJUA)
House Bill 508 (HB 508) has passed the House and Senate and was signed into law by Governor Hassan on Monday, July 20, 2015.
HB 508 will begin the process of the closing of the New Hampshire Medical Malpractice Joint Underwriting Association (JUA).
Under HB 508 and under RSA 402-C, the insurance commissioner, as the court appointed receiver, will appoint a special deputy who will be responsible for the wind down of the JUA and the sale of the JUA runoff obligations to another insurer.
Once all JUA obligations have been paid or assumed by a private insurer, all remaining JUA assets will be transferred to the Merrimack County Superior Court. The court will determine the legal rights of the various classes of policyholders to receive these funds.
All JUA policies that are in effect upon the enactment of HB 508 will remain in force, but, no new applications will be accepted.
Any pending application for coverage submitted before HB 508 takes effect can be processed and a policy can be issued, but any policy issued must terminate on or before December 31, 2016.
After the enactment of HB 508 and through the end of this year, the special deputy receiver may renew existing JUA coverage, however, no renewal policy can be issued after December 31, 2015.