HF 2412 (LSB 5860YH (4) 90)

HOUSE FILE 2412

BY  CROKEN, ABDUL-SAMAD, and MADISON

A BILL FOR

An Act relating to rate increases for medical malpractice insurance policies.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  NEW SECTION.  505.19A  Medical malpractice insurance rate increases.
   1.  An insurer providing medical malpractice insurance coverage to Iowa health care providers shall not increase rates for medical malpractice insurance policies issued by the insurer by more than two percent per year.
   2.  “Health care provider” and “insurer” mean the same as defined in section 505.27.
    Sec. 2.  Section 519A.5, Code 2024, is amended by adding the following new subsection:
   NEW SUBSECTION.  4A.  The rates applicable to the medical malpractice insurance policies written by the association shall not increase by more than two percent per year.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill relates to rate increases for medical malpractice insurance policies.
   The bill prohibits an insurer providing medical malpractice insurance coverage to health care providers in this state from increasing the rates applicable to medical malpractice insurance policies issued by the insurer by more than 2 percent per year.
   The bill prohibits the joint underwriting association from increasing the rates applicable to medical malpractice insurance policies written by the association by more than 2 percent per year.