N.Y. Insurance Law § 5603: Arbitration administration fund and expenses

§ 5603. Arbitration administration fund and expenses. (a) There is

established within the department an arbitration administration fund

which shall be considered to be an expense of the department and shall

be funded by order of the superintendent, pursuant to section two

hundred six of the financial services law in such amount as shall be

sufficient to defray the actual administrative expenses of the

department and the arbitration administrator for the projected number of

arbitration proceedings for a twelve-month period, after taking into

consideration any excessive or insufficient amounts from the previous

assessments, any appropriation of public funds for this purpose and any

funds collected from claimants participating in the arbitration. If the

amount assessed for any twelve-month period is insufficient to defray

expenses during that period, a further assessment may be ordered by the

superintendent. The arbitration administrator shall establish reasonable

fees for claimants who participate in the arbitration, subject to the

approval of the superintendent.

(b) The administrative expenses shall include but not be limited to

the costs of arbitrators, the arbitration administrator and the

department.