Bill > SB173

This bill amends the Medical Malpractice Act to expand the types of medical malpractice liability insurance that healthcare providers can obtain to qualify for coverage under the Act. Specifically, it allows healthcare providers to use either "claims-made" or "occurrence-based" malpractice insurance policies, whereas previously the types of policies were more restricted. "Claims-made malpractice insurance" covers incidents that occur and are reported while the policy is active, while "occurrence-based malpractice insurance" covers incidents that occurred while the policy was active, regardless of when the claim is filed. The bill also clarifies that healthcare providers using claims-made policies must obtain "tail coverage" when their claims-made policy is terminated, which provides coverage for future claims arising from malpractice that occurred during the active period of the claims-made policy. Additionally, the bill changes the term "occurrence" to "malpractice claim" when referring to insurance coverage limits, and it updates the financial responsibility requirements for independent outpatient healthcare facilities.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=173&year=26