WVC 29 - 12 B- 14
§29-12B-14. Effective date and termination of authority.
Policies written under this article may have an effective
date retroactive to the effective date of this article. Except as
provided in subsection (n), section six of this article, the
authority of the board of risk and insurance management to issue
medical liability policies under this article shall cease upon the
board's transfer, in accordance with section nine, article
twenty-f, chapter thirty-three of this code, of assets, obligations
and liabilities to the physicians' mutual insurance company created
pursuant to said article, or upon the first day of July,
two-thousand four, whichever occurs first. The board shall
continue to administer any existing policy of insurance which was
issued pursuant to this article, but was not transferred to the
physician's mutual insurance company, until the policy expires.
Upon the expiration of the policy, the board shall make tail
coverage available at an appropriate premium rate to be determined
by the board. The board shall continue to administer any tail
coverage so provided. On the thirtieth day of January each year,
the board shall report to the legislature's joint committee on
government and finance the amount of any unfunded liability
associated with the run out and tail coverage provided by this
Note: WV Code updated with legislation passed through the 2014 1st Special Session
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