INDIANAPOLIS (Jan. 28, 2010) - NAMIC filed an amicus brief with the New England Legal Foundation in support of the petitioners who were policyholders of New Hampshire's medical malpractice joint underwriting association and who challenged the state's appropriation of the JUA's surplus. The following statement may be attributed to Paul Tetrault, Northeast state affairs manager for the National Association of Mutual Insurance Companies.
"This is a significant decision standing for the principle that a state cannot raid a fund simply because money has built up. We have seen a troubling trend of states seeking to close budget gaps by going after insurance funds in a variety of inappropriate ways. In this case, both the lower court and the New Hampshire Supreme Court recognized the impropriety of the appropriation."
For further information, contact
Director of Communications
State & Policy Affairs
Posted: Thursday, January 28, 2010 4:06:24 PM.
317.875.5250 - Indianapolis | 202.628.1558 - Washington, D.C.