P&C Workers Compensation

Filing Review Requirements

Regulatory Reference
or Source

Comments

FORMS

Applications

No filing requirement for applications (unless made part of the policy)

Title 8, §3541 and §4205

Incorrect statements on the application shall not bar the right to recovery unless it was meant to deceive or unless it materially affected either the acceptance of the risk or the hazard assumed by the insurer.

Appeals (applies only to Part Two - Employers Liability

Limit of liability may be waived

Title 8, §4203

The Company has unlimited liability should they appeal a case without the Insured's consent

Arbitration

N/A

 

 

Bankruptcy Provision

N/A

 

 

Cancellation & Non-renewal

Days' Notice and Cancellation/Nonrenewal Reasons

Title 21, §696-7

Policy can be cancelled for any reason with 45 days' notice.  45 day's non-renewal notice required.

Large Deductible

Guidelines

Department requirement

Form must generally guaranty that the insurance company will pay the claim directly and seek reimbursement from the employer.  The Department does not allow only the endorsement to be cancelled because it is considered a constructive cancellation of the entire policy.

Liberalization Clause

Not required

 

 

Readability

Guidelines

Regulation I-2010-03

Flesh score minimum is 40, not less than 10 point type, one point leaded. 

RATING

Open Competition, Use and File

Title 8, §4688
Loss Costs -
Bulletin 99

Filing must be received within 15 days of effective date.  Rate filing must include verifying material and actuarial backup.  

Rating Plan Requirements

Uniform with Designed Advisory Organization

Title 8, §4687

Department prohibits any modification of the uniform scheduled rating plan promulgated by the Designated Advisory Service Organization.