The Patient's Compensation Fund was originally formed in 1975 in answer to what was then a crisis situation in availability of medical malpractice insurance coverage for doctors and hospitals. To carry out its mission, the Patient's Compensation Fund Oversight Board maintains a centralized staff and funding associated with functions formerly performed by the commissioner of insurance and the attorney general; (2) retains the services of the Office of Risk Management for services relating to professional liability suits against the fund or its employees in the performance of their duties; and (3) retains in-house staff for claims examining and adjusting.
The Patient's Compensation Fund Oversight has only one program, Administrative. Therefore the mission and goals of the Patient's Compensation Fund Oversight Board are the same as those listed for Administrative program in the program description that follows.
This agency's recommended appropriation does not include any funds for short-term debt.
This agency does not have any long-term debt for Fiscal Year 1998-1999.
This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:
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