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Rules of the Court Administrator Current through 2012 Rule Page 1 (Deleted by order of March 13, 2012, effective March 13, 2012.) 2 Own Risk Employers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 3 Group Self-Insurance Associations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 (Deleted by order of March 13, 2012, effective March 13, 2012.) COURT ADMINISTRATOR RULE 1. DELETED BY ORDER OF MARCH 13, 2012, EFFECTIVE MARCH 13, 2012. COURT ADMINISTRATOR RULE 2. OWN RISK EMPLOYERS Any employer subject to the Workers' Compensation Act (see now Workers’ Compensation Code), who has not otherwise secured compensation insurance for its employees, shall file with the Insurance Department of the Court, a completed Form 1-B, Employer's Application for Permission to Carry Its Own Risk Without Insurance. This application shall be submitted to the Court at least sixty (60) days prior to the desired effective date, or renewal date for existing permits. The application shall include complete answers to all questions contained therein and shall include satisfactory proof as to the employer's ability to pay an award made by the Court. All attachments listed on the Form 1-B must be submitted with the application. With the exception of governmental entities, an employer desiring to self-insure must meet all the following qualifications and guidelines: (1) Have been continuously engaged in business for a period of not less than five (5) years; (2) Have had an average minimum payroll of not less than one million dollars ($1,000,000.00) in each of the preceding three (3) years; (3) Have a shareholder’s equity of not less than f iv e hundred thousand dol lars ($500,000.00); and (4) Employ not less than one hundred (100) employees. Applications must attach a financial statement (preferably audited), including a balance sheet and income statement. If the company's current fiscal year-end financial report is not available at the time of application, it should be submitted to the Court promptly. The application must also include a current proof of reinsurance (binder or certificate). Any subdivision or subsidiary of any employer must provide a written guarantee from its parent company which states the parent company will be fully responsible for any liabilities that its subdivision or subsidiary may incur under the Workers' Compensation Act (see now Workers’ Compensation Code). A self-insured company may be required to post a surety bond, letters of credit or initiate a reserve self-funding program. If posting a surety bond or letter of credit, the amount required will be determined by the Court Administrator. If the self-insured company self-funds their reserves, the following guidelines will apply: (1) An initial fund amount, determined by the Court Administrator, will be deposited into a separate Workers' Compensation Claims Fund. This base amount will remain constant; Administrator's Rules, Page 1
Object Description
Okla State Agency |
Workers' Compensation Court, Oklahoma |
Okla Agency Code |
'369' |
Title | Rules of the court administrator, current through 2012 |
Authors | Oklahoma. Workers Compensation Court. |
Publication Date | 2012-03-14 |
Publication type |
Laws/Rules |
For all issues click | C6500.4 R935a |
Digital Format | PDF, Adobe Reader required |
ODL electronic copy | Downloaded from agency website: http://www.owcc.state.ok.us/PDF/Rules%20of%20the%20Court%20Administrator_2012.pdf |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Date created | 2013-05-13 |
Date modified | 2013-05-13 |
OCLC number | 890223611 |
Description
Title | Rules of the Court Administrator_2012 1 |
Full text | Rules of the Court Administrator Current through 2012 Rule Page 1 (Deleted by order of March 13, 2012, effective March 13, 2012.) 2 Own Risk Employers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 3 Group Self-Insurance Associations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 (Deleted by order of March 13, 2012, effective March 13, 2012.) COURT ADMINISTRATOR RULE 1. DELETED BY ORDER OF MARCH 13, 2012, EFFECTIVE MARCH 13, 2012. COURT ADMINISTRATOR RULE 2. OWN RISK EMPLOYERS Any employer subject to the Workers' Compensation Act (see now Workers’ Compensation Code), who has not otherwise secured compensation insurance for its employees, shall file with the Insurance Department of the Court, a completed Form 1-B, Employer's Application for Permission to Carry Its Own Risk Without Insurance. This application shall be submitted to the Court at least sixty (60) days prior to the desired effective date, or renewal date for existing permits. The application shall include complete answers to all questions contained therein and shall include satisfactory proof as to the employer's ability to pay an award made by the Court. All attachments listed on the Form 1-B must be submitted with the application. With the exception of governmental entities, an employer desiring to self-insure must meet all the following qualifications and guidelines: (1) Have been continuously engaged in business for a period of not less than five (5) years; (2) Have had an average minimum payroll of not less than one million dollars ($1,000,000.00) in each of the preceding three (3) years; (3) Have a shareholder’s equity of not less than f iv e hundred thousand dol lars ($500,000.00); and (4) Employ not less than one hundred (100) employees. Applications must attach a financial statement (preferably audited), including a balance sheet and income statement. If the company's current fiscal year-end financial report is not available at the time of application, it should be submitted to the Court promptly. The application must also include a current proof of reinsurance (binder or certificate). Any subdivision or subsidiary of any employer must provide a written guarantee from its parent company which states the parent company will be fully responsible for any liabilities that its subdivision or subsidiary may incur under the Workers' Compensation Act (see now Workers’ Compensation Code). A self-insured company may be required to post a surety bond, letters of credit or initiate a reserve self-funding program. If posting a surety bond or letter of credit, the amount required will be determined by the Court Administrator. If the self-insured company self-funds their reserves, the following guidelines will apply: (1) An initial fund amount, determined by the Court Administrator, will be deposited into a separate Workers' Compensation Claims Fund. This base amount will remain constant; Administrator's Rules, Page 1 |
Date created | 2013-05-13 |
Date modified | 2013-05-13 |
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