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14.09.14.00.htm 14.09.14.00. Title 14 INDEPENDENT AGENCIES Subtitle 09 WORKERS' COMPENSATION COMMISSION Chapter 14 Governmental Group Self-Insurance Authority: Labor and Employment Article, §9-309, 9-402, and 9-404, Annotated Code of Maryland
14.09.14.01.htm 14.09.14.01. 01 Definitions.. A. For the purposes of this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Actuarially calculated ultimate loss liability” means the sum of open claim reserves plus an estimate of incurred but not reported losses on open and closed claims through the cutoff date for the estimate in accordance with generally accepted actuarial principles.2) "Adequate consideration" has the meaning set forth in the Employee Retir
14.09.14.01-1.htm 14.09.14.01-1. 01-1 Application.. A. Application for governmental group coverage for the express purpose of establishing a group self-insurers' fund, to be administered under the direction of an elected board of trustees, and to provide workers' compensation coverage for a group of public employers of the same type of unit, shall be made to the Workers' Compensation Commission.B. The application shall be made on a prescribed form and shall contain answers to all questions and
14.09.14.02.htm 14.09.14.02. 02 Approval and Review.. A. After considering the application and all supportive data, the Commission shall either grant approval or advise the trustees of the governmental self-insurers' group of the requirements to be met before approval is granted. The group shall be given 30 days from the receipt of the notice in which to comply with the requirements. The self-insured authority may not become effective until there is proof that all requirements for self-insured appro
14.09.14.03.htm 14.09.14.03. 03 Members Admission and Termination.. A. After the inception date of the fund, prospective new members of the fund shall submit an application for membership to the board of trustees, or its administrator. The trustees or administrator may approve the application for membership pursuant to the bylaws of the governmental group self-insurers' fund. The application for membership shall then be filed with the Commission, and membership shall take effect on the da
14.09.14.04.htm 14.09.14.04. 04 Reports to the Commission.. A. Reports as to financial standing, payroll records, insurance coverage, accident experience, compensation payments, and such other reports as are required to be filed shall be made at the following times and in the following manner:1) Each fund shall file a statement of financial condition annually prepared by a certified public accounting firm. The financial statement shall show evidence that the fund has surplus sufficient to
14.09.14.05.htm 14.09.14.05. 05 Trustee Responsibilities.. A. Trustee Election.. 1) Trustees shall be elected or appointed for a stated term of office.. 2) A trustee may not be an owner, officer, or employee of a service company with which the Board of Trustees contracts for a purpose authorized by this chapter, except that a Trustee may be an employee of the governmental group or sponsoring organization.B. Delegation of Authority to Administrator.. 1) Subject to final approval by the Commission, th
14.09.14.06.htm 14.09.14.06. 06 Funds, Advance Premium Discounts, Surplus Distribution, Deficits.. A. The trustees of any group self-insurers' fund may not allow advance premium discounts to any member in excess of that allowed by the excess insurance underwriter, subject, however, to a maximum of 15 percent of their standard premium.B. Any surplus monies for a fund year in excess of the amount necessary to fulfill all obligations under the Workers' Compensation Law for that fund year, including a provisio
14.09.14.07.htm 14.09.14.07. 07 Excess Insurance.. A contract or policy of aggregate or specific excess insurance may not be recognized in considering the ability of an applicant to fulfill its financial obligations under the Workers' Compensation Law, unless the contract or policy complies with all of the following:A. Is issued by a casualty insurance company authorized to transact this business in this State and is rated A- or above by AM Best or equivalent.B. Is not cancelable or nonrenewable unless writte
14.09.14.08.htm 14.09.14.08. 08 Investments Authorized.. A. Conditions to Investing.. 1) Prior to engaging in an investment activity under this chapter, the Board of Trustees shall:. a) Fully fund the actuarially calculated ultimate loss liability of the Fund; and. b) Submit to the Commission for approval an Annual Investment Plan that satisfies the requirements of this regulation.2) The Annual Investment Plan submitted to the Commission shall include:.
14.09.14.09.htm 14.09.14.09. 09 Reporting Requirements and Corrective Action Plans.. A. The Board of Trustees shall:. 1) Submit quarterly reports regarding the status or condition of investments made pursuant to this chapter, including quarterly investment statements; and2) Submit any additional information requested by the Commission under §B of this regulation.. B. The Commission may direct the Board of Trustees to submit to the Commission:.
14.09.14.10.htm 14.09.14.10. 10 Request for Hearing Before the Commission.. A. A Board of Trustees aggrieved by a decision of the Commission under this chapter may request a hearing before the Commission within 15 days of the date the decision is mailed.B. A hearing shall be set as soon as practicable but no sooner than 20 days after the request is received by the Commission.C. The Board of Trustees may:. 1) Submit a written statement, 15 copies of which shall be served on the Commission at least 5 days
14.09.14.11.htm 14.09.02.11. 11 Appeals to Circuit Court.. The Board of Trustees may appeal an adverse decision pursuant to Labor and Employment Article, §9-409, Annotated Code of Maryland.
14.09.14.9999.htm 14.09.14.9999. Administrative History Effective date: March 14, 1983 (10:5 Md. R. 466). Chapter revised effective September 27, 2004 (31:19 Md. R. 1433) ―. Chapter revised effective March 7, 2011 (38:5 Md. R. 319) ―. Chapter recodified from COMAR 14.09.02, Governmental Group Self-Insurance, to COMAR 14.09.14, Governmental Group Self-Insurance, effective March 3, 2014 (41:4 Md. R. 304)
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