Florida Administrative Code › 64 - DEPARTMENT OF HEALTH › 64B2 - Board of Chiropractic Medicine › Chapter 64B2-17 - CHIROPRACTIC PRINCIPLE AND PRACTICE › Section 64B2-17.009 - Financial Responsibility

Current through Reg. 50, No. 138; July 16, 2024
As a prerequisite for licensure or license renewal every
				  chiropractor is required to maintain professional malpractice insurance or
				  provide proof of financial responsibility as set forth herein:
(1) Obtaining and maintaining professional
				liability coverage in an amount not less than $100, 000 per claim, with a
				minimum annual aggregate of not less than $300, 000 from an authorized insurer
				as defined under Section
				624.09, F.S., from a surplus
				lines insurer as defined under Section
				626.914(2),
				F.S., from a risk retention group as defined under Section
				627.942, F.S., from the Joint
				Underwriting Association established under Section
				627.351(4),
				F.S., or through a plan of self-insurance as provided in Section
				627.357, F.S.
(2) Obtaining and maintaining an unexpired,
				irrevocable letter of credit, established pursuant to Chapter 675, F.S., in an
				amount not less than $100, 000 per claim, with a minimum aggregate availability
				of credit of not less than $300, 000. The letter of credit shall be payable to
				the chiropractor as beneficiary upon presentment of a final judgment indicating
				liability and awarding damages to be paid by the chiropractor or upon
				presentment of a settlement agreement signed by all parties to such agreement
				when such final judgment or settlement is a result of a claim arising out of
				the rendering of, or the failure to render, chiropractic care and services.
				Such letter of credit shall be issued by any bank or savings association
				organized and existing under the laws of the State of Florida or any bank or
				savings association organized under the laws of the United States that has its
				principal place of business in this state or has a branch office which is
				authorized under the laws of this state or of the United States to receive
				deposits in this state.
(3) Upon
				application to the Board, the following licensees shall be exempted from
				meeting the requirements of this rule:
(a) Any
				chiropractor who practices exclusively as an officer, employee or agent of the
				federal government or of the State of Florida or its agencies or subdivision.
				For purposes of this rule, an agent of the State of Florida, its agencies or
				its subdivisions is a person who is eligible for coverage under any self
				insurance or insurance program authorized by the provisions of Section
				768.28(14),
				F.S., or who is a volunteer under Section
				110.501(1),
				F.S.
(b) Any person licensed or
				certified under Chapter 460, F.S., who practices only in conjunction with
				his/her teaching duties at an accredited school or in its main teaching
				hospitals. Such person may engage in the practice of chiropractic to the extent
				that such practice is incidental to and a necessary part of duties in
				connection with the teaching position in the school.
(c) Any person holding an active license
				under Chapter 460, F.S., who is not practicing in this state. If such person
				initiates or resumes practice in this state, he/she must notify the Board of
				such activity.
(d) Any person who
				can demonstrate to the Board that he/she has no malpractice exposure in the
				State of Florida.