(1) SUM Arbitrator Screening Committee. The superintendent will appoint an advisory committee of six members, who will review the qualifications of applicants for the position of SUM arbitrator for hearings to be held in this State and review the performance of the appointed arbitrators. This committee shall make recommendations to the superintendent pertaining to the appointment and dismissal of SUM arbitrators. The committee shall consist of one representative of the New York State Bar Association, one representative of the New York State Trial Lawyers Association, two representatives of motor vehicle insurers, a non-voting representative of the designated organization and a non-voting representative of the superintendent. Tie votes shall be recorded as such to the superintendent.

(2) A SUM arbitrator shall be an attorney, licensed to practice law in this State, with at least 10 years of experience that the superintendent and SUM Arbitrator Screening Committee have determined qualifies the attorney to review and resolve the issues involved in SUM disputes. The SUM Arbitrator Screening Committee, subject to the approval of the superintendent, shall establish any additional qualifications for the position of SUM arbitrator. An applicant for the SUM arbitrator position shall submit documentation of experience along with an application to the superintendent and the SUM Arbitrator Screening Committee. An arbitrator candidate shall disclose to the superintendent any circumstance that is likely to create an appearance of bias of that might disqualify the person as an arbitrator and the superintendent will determine whether the candidate should be disqualified.

(3) Every SUM arbitrator shall be appointed by, and serve at the pleasure of, the superintendent. Subsequent to reviewing the recommendations of the SUM Arbitrator Screening Committee, the superintendent will forward the names of all appointed or renewed arbitrators and promptly inform the designated organization of all additions to, or deletions from, the panel.

(4) No person shall, during the period of appointment as an arbitrator, have any practice or professional connection with any firm or insurer involved in any degree with motor vehicle insurance or negligence law.

(5) No person shall, during the period of appointment as an arbitrator, have any practice or professional connection with any firm or insurer involved in any degree with motor vehicle insurance or negligence law.

(1) The cost of administering the SUM arbitration forum shall be paid quarterly by insurers to the designated organization upon receipt of a statement therefrom. This cost shall be distributed among insurers in an equitable manner as determined by the Superintendent of Financial Services. This distribution shall, to the extent practicable, be a function of the degree to which an insurer is named as a respondent in SUM arbitration proceedings.

(2) On an annual basis, no later than April 30 of each year, the designated organization shall prepare:

(3) Once the designated organization submits a final cost analysis that has either been approved by the SUM Optional Arbitration Advisory Committee or resolved by the superintendent, the designated organization shall send to each applicable insurer an accounting of the actual assessment. Any adjustment due to the difference between the estimate of expenses and the actual expenses incurred for the operation and administration of the SUM forum shall be made to the bill for the next quarterly estimated assessment.

(4) The designated organization and the SUM Optional Arbitration Advisory Committee may, by agreement subject to the approval of the superintendent, augment or modify the manner and timing of assessment billings through written guidelines.

(5) The designated organization shall impose an interest charge, at prime rate plus one percent, for all assessment charges that are unpaid for more than 90 days after the billing date. Interest collected will be used to reduce the overall current year SUM forum operating expenses.