On February 22, 2022, Indiana Department of Insurance (IDOI) Commissioner Amy L. Beard issued Bulletin 263 outlining the 2022-2023 annual surcharge rates for healthcare providers to pay into the Indiana Patient’s Compensation Fund (PCF) to be qualified under Indiana’s Medical Malpractice Act.
For physicians and hospitals, the overall surcharge will not change from the current rates. The surcharge rates are effective for coverage beginning July 1, 2022.
The PCF is a dedicated fund administered by the IDOI as a component of the Indiana Medical Malpractice Act. It provides excess payments of damages to patients who have experienced medical malpractice and excess medical professional liability coverage to participating healthcare providers in Indiana. The PCF is funded by a surcharge paid as part of a health care provider’s liability insurance premium.
For more information about surcharge calculations, you can find the complete Bulletin 263 on the Indiana Department of Insurance website at www.in.gov/idoi on the Insurance Laws, Rules & Bulletins page.
About the Indiana Department of Insurance
The Indiana Department of Insurance protects Indiana's insurance consumers by monitoring and regulating the financial strengths and market conduct activities of insurance companies and agents. The IDOI monitors insurance companies and agents for compliance with state laws to protect consumers and to offer them the best array of insurance products available. The IDOI also assists Hoosiers with insurance questions and provides guidance in understanding how insurance policies work.