New Hampshire has appealed a lower court ruling denying its claim to a $110 million surplus in a fund that underwrites malpractice insurance.
The state counted on $65 million of the money to help balance the budget in the fiscal year that just ended and used the other $45 million toward spending in the current two-year budget.
Superior Court Judge Kathleen ruled last week that the state’s claim is unconstitutional. She said the fund’s policyholders have a contractural right to the money.
The state argues lawmakers created the fund and the state has a right to use the surplus to support programs promoting access to health care.
The state has asked the state Supreme Court to expedite the appeal.
Was this article valuable?
Here are more articles you may enjoy.
Data Centers Offer a Potential $10 Billion Windfall for Insurers
Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage
Trump Approves Disaster Requests for at Least 7 States; Others Wait
Convicted Insurance Mogul Lindberg Should Pay $1.6B Restitution to Companies 

