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Indiana Medical Malpractice Act - Chapter 4
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IC 34-18-4
Chapter 4.
Establishment of Financial
Responsibility
IC 34-18-4-1
Establishment of
financial responsibility
Sec. 1. Financial
responsibility of a health
care provider and the
provider's officers, agents,
and employees while acting
in the course and scope of
their employment with the
health care provider may be
established under
subdivision (1), (2), or
(3):
(1) By the health
care provider's insurance
carrier filing with the
commissioner proof that the
health care provider is
insured by a policy of
malpractice liability
insurance in the amount of
at least two hundred fifty
thousand dollars ($250,000)
per occurrence and seven
hundred fifty thousand
dollars ($750,000) in the
annual aggregate, except for
the following:
(A) If the
health care provider is a
hospital, as defined in this
article, the minimum annual
aggregate insurance amount
is as follows:
(i) For
hospitals of not more than
one hundred (100) beds, five
million dollars
($5,000,000).
(ii) For
hospitals of more than one
hundred (100) beds, seven
million five hundred
thousand dollars
($7,500,000).
(B) If the
health care provider is a
health maintenance
organization (as defined in
IC 27-13-1-19) or a limited
service health maintenance
organization (as defined in
IC 27-13-34-4), the minimum
annual aggregate insurance
amount is one million seven
hundred fifty thousand
dollars ($1,750,000).
(C) If the
health care provider is a
health facility, the minimum
annual aggregate insurance
amount is as follows:
(i) For
health facilities with not
more than one hundred (100)
beds, seven hundred fifty
thousand dollars ($750,000).
(ii) For
health facilities with more
than one hundred (100) beds,
one million two hundred
fifty thousand dollars
($1,250,000).
(2) By filing and
maintaining with the
commissioner cash or surety
bond approved by the
commissioner in the amounts
set forth in subdivision
(1).
(3) If the health
care provider is a hospital
or a psychiatric hospital,
by submitting annually a
verified financial statement
that, in the discretion of
the commissioner, adequately
demonstrates that the
current and future financial
responsibility of the health
care provider is sufficient
to satisfy all potential
malpractice claims incurred
by the provider or the
provider's officers, agents,
and employees while acting
in the course and scope of
their employment up to a
total of two hundred fifty
thousand dollars ($250,000)
per occurrence and annual
aggregates as follows:
(A) For
hospitals of not more than
one hundred (100) beds,
five million dollars
($5,000,000).
(B) For
hospitals of more than one
hundred (100) beds, seven
million five hundred
thousand dollars
($7,500,000).
The commissioner may
require the deposit of
security to assure continued
financial responsibility.
As added by P.L.1-1998,
SEC.13. Amended by
P.L.111-1998, SEC.6.
IC 34-18-4-2
Security; manner of
holding; withdrawal
Sec. 2. Security
provided under section 1(2)
of this chapter may be held
in any manner mutually
agreeable to the
commissioner and the health
care provider. The agreement
must provide that the
principal may not be
withdrawn before receiving
the written permission of
the commissioner. However,
any interest earned may be
withdrawn at any time by the
health care provider.
As added by P.L.1-1998,
SEC.13.
IC 34-18-4-3
Hospital bed size
determined by health
department
Sec. 3. For the
purposes of section 1 of
this chapter, the bed size
of a hospital shall be
considered to be the bed
size published annually by
the state department of
health.
As added by P.L.1-1998,
SEC.13.
IC 34-18-4-4
Partners and members of
professional corporations
Sec. 4. To
establish financial
responsibility under this
chapter, each individual who
is a member of a partnership
or professional corporation
must establish financial
responsibility separate from
the partnership or
professional corporation, as
well as pay the surcharge
required under IC 34-18-5.
However, this section does
not require a health care
provider to qualify under
this article.
As
added by P.L.1-1998, SEC.13.
Note:
Anyone
who believes they may have a medical
malpractice claim should immediately consult
an attorney with experience in handling such
cases. As with many areas of the law,
medical malpractice law in Indiana is very
complex and contains numerous caveats and
peculiarities. One should not attempt to
interpret or apply the law to one's case
without the consultation of a medical
malpractice lawyer. Given that various
time limitations may apply, it is highly
advisable to consult such an attorney
without delay, in order to avoid having a
potential claim barred.
For more information, or for
a free attorney consultation with The
Powless Law Firm,
click here, or call toll-free:
(888)922-2889.
This page
was last updated on 8/8/05. It is
highly advisable to undertake an independent
review of the current statute to ensure that
no legislative changes have been adopted
since such time.
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