South Dakota has changed the time frame for medical malpractice insurers to file reports of all claims made.
The law now requires each medical malpractice insurer to file reports of all claims made against any of its insureds not less than semiannually. Previously the actual time frames for the filing were only specified in the reporting form. Furthermore, reporting has been sporadic and inconsistent. Effective immediately there will be a specific time frame each year for the reports to be filed that must be adhered to.
Specifically, the report for claims filed or disposition of any claims from January 1 to June 30 will need to be submitted to the Division by September 30 of each year; the same report for claims filed or disposition of any claims from July 1 to December 31 each year would need to be submitted to the Division by March 31.
Failure to timely file the reports is grounds for administration action, according to the Division of Insurance.
For more information, visit http://legis.state.sd.us/statutes/DisplayStatute.aspx?Statute=58-23A-2&Type=Statute and http://legis.state.sd.us/statutes/DisplayStatute.aspx?Statute=58-23A-4&Type=Statute.
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