§ 26-33-103 — Insurance coverage

A qualified physician shall be insured in a minimum amount of
fifty thousand dollars ($50,000.00) against a claim for
malpractice. Any award or settlement adjudicated or allowed on a
malpractice claim in excess of fifty thousand dollars
($50,000.00) or limits of other underlying coverage if greater
occurring during any year in which the physician is qualified
under this chapter shall be paid from the account subject to the
limitation that obligations from the account shall not exceed
one million dollars ($1,000,000.00) in any calendar year for one
(1) or more awards or settlements against an individual
physician.