Authorizes a public benefit hospital entity to: (1) Join or form a self-insurance program together with other public benefit hospital entities;

(2) Jointly purchase insurance or reinsurance with other public benefit hospital entities for property and liability risks; and

(3) Contract for or hire personnel to provide risk management, claims, and administrative services.

Exempts a joint self-insurance program from insurance premium taxes, certain assessed fees, business and occupation taxes, and assigned risk plans or joint underwriting associations.