AMENDMENT FOR PRINTED BILL
1208ra
___________________ moved that HB 1208 be amended as follows:
On page
1,
line 15 of the printed bill,
overstrike "
requirements set forth in
"
and insert "
following
formula
".
On page
2
,
line 1,
overstrike "
62-4-35 in effect prior to July 1, 1999,
"
.
On page
2
,
line 4,
after "
resolved
"
insert "
: The total assessment amount shall be allocated
between self-insured employers and insured employers based on paid losses for the preceding calendar
year. The method of assessing self-insured employers shall be based on paid losses. The method of
assessing insured employers shall be a surcharge based on premium.
The portion of the total aggregate amount to be collected from self-insured employers shall be
a sum equal to that proportion of the paid losses for the preceding calendar year, which the paid
losses of all self-insured employers bore to the total paid losses of all self-insured employers and
insured employers during the preceding calendar year. The portion of the total aggregate amount to
be collected from insured employers shall be a sum equal to that proportion of the total paid losses
for the preceding calendar year, which the total paid losses on behalf of all insured employers bore
to the total paid losses of all self-insured employers and insured employers during the preceding
calendar year. An employer who has ceased to be a self-insurer shall continue to be liable for any
assessments based on paid losses made by the employer in the preceding calendar year.
Insurers shall collect such assessments from their policyholders through a surcharge based on
premium. Assessments when collected do not constitute an element of loss for the purpose of
establishing rates for workers' compensation insurance, but, for the purpose of collection, shall be
treated as separate costs imposed upon insured employers. The premium surcharge shall be excluded
from the definition of premium for all purposes, including computation of agents' commissions or
premium taxes. However, any insurer may cancel a workers' compensation policy for nonpayment
of the premium surcharge
".