(a) Within 30 days of payment of all or any portion of a civil action judgment, settlement, or arbitration award described in Section 5588 against a licensee of the board in which the amount or value of the judgment, settlement, or arbitration award is five thousand dollars ($5,000) or greater, any insurer providing professional liability insurance to that licensee or architectural entity shall report to the board all of the following:
(1) The name of the licensee.
(2) The claim or file number.
(3) The amount or value of the judgment, settlement, or arbitration award.
(4) The amount paid by the insurer.
(5) The identity of the payee.
(b) Within 30 days of payment of all or any portion of any civil action judgment, settlement, or arbitration award described in Section 5588 against a licensee of the board in which the amount or value of the judgment, settlement, or arbitration award is five thousand dollars ($5,000) or greater, any state or local governmental agency that self insures that licensee shall report to the board all of the following:
(1) The name of the licensee.
(2) The claim or file number.
(3) The amount or value of the judgment, settlement, or arbitration award.
(4) The amount paid.
(5) The identity of the payee.
(Added by Stats. 2005, Ch. 506, Sec. 21. Effective October 4, 2005.)
Last modified: October 25, 2018