Section 760IAC1-21-6. Financial reserves

   A health care provider that establishes financial responsibility by a means other than insurance must maintain reserves adequate to cover the possible loss and expected litigation costs in conjunction with any claim submitted against that health care provider. Such reserves must be established within sixty (60) days after a claim is reported. Upon the request of the department, the health care provider shall provide an actuarial opinion that states the health care provider has adequate reserves for its potential liabilities under generally accepted standards of actuarial practice. Any information received by the department regarding claim reserves is confidential under IC 5-14-3 and IC 34-18-9-3. The department shall request not more than one (1) report in a twelve (12) month period unless the department receives information that indicates a financial issue. (Department of Insurance; Reg 22,Sec VI; filed Jan 27, 1977, 2:35 p.m.: Rules and Regs. 1978, p. 516; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; filed Feb 2, 2007, 3:08 p.m.: 20070228-IR-760060032FRA; readopted filed Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA)