Date Requested: February 19, 2015
Time Requested: 03:33 PM
Agency: Risk and Insurance Management, Board of
CBD Number: Version: Bill Number: Resolution Number:
3133 Introduced SB532
CBD Subject: Actions, Suits and Liens


FUND(S):

2360 State Special Insurance Fund; 2363 Public Entity Insurance Fund

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The proposed legislation requires that the WV State Board of Risk and Insurance Management (BRIM) shall provide medical professional liability insurance to all of the state's medical and dental schools, all of their clinical practice plans and all of their directors, officers, employees, agents and contractors in an amount to be determined by the State Board of Risk and Insurance Management, but in no event less than $1 million for each occurrence. Since BRIM already provides coverage of $1 million per occurrence, there should be no additional revenue, costs and expenses for the current fiscal year, or any subsequent fiscal year.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    



Memorandum


    Since the State Board of Risk and Insurance Management currently provides medical professional liability insurance to all of the state's medical and dental schools, all of their clinical practice plans and all of their directors, officers, employees, agents and contractors in an amount equal to $1 million per occurrence, there is no impact on financial costs or revenues resulting from the proposed legislation for either Fund 2360 or 2363.



    Person submitting Fiscal Note: Donna Lipscomb Spano
    Email Address: donna.m.lipscombspano@wv.gov