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§4237-a
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§4237-a . Stop-loss insurance.
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§4237-a(a)
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(a) An insurer authorized to do the business of accident and health insurance in this state and a health service corporation organized under article 43 of this chapter shall be authorized to issue stop-loss insurance as provided in (this §) .
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§4237-a(b)
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(b) "Stop-loss insurance" means an insurance policy whereby the insurer agrees to pay claims or indemnify an employer for losses incurred under a self-insured employee benefit plan in excess of specified loss limits for individual claims and/or for all claims combined, or any similar arrangement.
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§4237-a(c)
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(c) A stop-loss insurance policy delivered, issued for delivery, or entered into in this state shall clearly describe:
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§4237-a(c)(1)
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(1) the entire money or other consideration for the policy;
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§4237-a(c)(2)
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(2) the time at which the insurance takes effect and terminates;
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§4237-a(c)(3)
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(3) the specified per-claim, per-employee, or aggregate amount of claims above which payment or reimbursement is to be made by the insurer; and
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§4237-a(c)(4)
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(4) the payments to be made by the insurer once the specified stop-loss thresholds have been exceeded.
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§4237-a(d)
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(d) No stop-loss insurance contract shall be issued or renewed if issuance of the policy would be prohibited by §2613 , §3231 , §4317 or §4320 of this chapter.
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§4237-a(e)
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(e) The superintendent may promulgate such rules and regulations he deems necessary or desirable to establish financial requirements and standards for the form and content of stop-loss insurance policies authorized by (this §) . Source Data downloaded: 2009-04-19 12: 33: 26; Processed: 2009-05-08 15: 36: 08
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