Connecticut Administrative Code › Title 31 - Labor › 349g - Second Injury Fund Assessment on Employers › Section 31-349g-1 - Definitions

Current through July 10, 2024
As used in sections 31-349g-1 through
				31-349g-9,
				inclusive:
(1) "Budget" means
			 projected fiscal year revenues and expenses of the Fund as established pursuant
			 to Section
			 31-349g-2
			 of the Regulations of Connecticut State Agencies.
(2) "Custodian of the Fund" means the
			 Treasurer of the State of Connecticut.
(3) "Fiscal Year" means the fiscal year of
			 the State of Connecticut which commences on July 1 and ends on the following
			 June 30.
(4) "Fund" means the
			 Second Injury Fund established and described in chapter 568, part E of the
			 General Statutes.
(5) "Insured
			 Employer" means an employer that satisfies its workers' compensation obligation
			 by purchasing a workers' compensation and employers liability insurance policy.
			 "Insured Employer" includes members of Interlocal Risk Management Agencies, as
			 defined in sections
			 7-479a through
			 7-479i
			 of the general statutes and employer's mutual insurance associations as defined
			 in sections
			 31-328
			 through
			 31-339
			 of the general statutes.
(6)
			 "Insurer" means stock and mutual companies authorized to provide workers'
			 compensation and employers liability insurance in accordance with applicable
			 laws of this state. "Insurer" includes Interlocal Risk Management Agencies as
			 defined in sections
			 7-479a through
			 7-479i
			 of the general statutes and employer's mutual insurance associations as defined
			 in sections
			 31-328
			 through
			 31-339
			 of the general statutes.
(7) "Paid
			 Losses" for Insurers means statutory paid losses as reported on page 14, line
			 16 of the statutory annual statement filed with the insurance commissioner;
			 plus any loss payments within deductible limits on workers' compensation
			 policies; plus any other third party recoveries; less Fund assessments included
			 on page 16, line 16 of the statutory annual statement; less any amount included
			 in direct losses paid but not covered by the Connecticut Workers' Compensation
			 Act, such as payments under the United States Longshore and Harbor Workers'
			 Compensation Act and employers liability coverage under the workers'
			 compensation and employers liability policy. For Self-Insured Employers, "paid
			 losses" means the total indemnity and medical expenses paid in accordance with
			 the Connecticut Workers' Compensation Act.
(8) "Premium Surcharge" means an amount
			 payable by each Insured Employer to satisfy its obligation to the Fund. The
			 premium surcharge shall be equal to the Premium Surcharge Rate multiplied by
			 the Insured Employers' Standard Premium.
(9) "Premium Surcharge Rate" means a factor
			 established by the Custodian of the Fund, which shall be applied to an Insured
			 Employer's workers' compensation policy Standard Premium to determine its
			 Premium Surcharge. The term "Premium Surcharge Rate" includes any such factor
			 established pursuant to subdivision 2 of subsection (b) of section
			 31-349g-5
			 of the regulations of Connecticut State Agencies.
(10) "Self-Insured Employer" means any
			 employer to whom a certificate of self-insurance has been issued pursuant to
			 Section
			 31-284
			 of the General Statutes.
(11)
			 "Standard Premium" means the direct written premium determined for each
			 workers' compensation and employers liability insurance policy on the basis of
			 authorized rates, including expense provisions and applicable rate deviations
			 or average prospective premium credit, applicable experience rating
			 modification and minimum premium. Such direct written premium will be
			 determined without regard to when or whether the premium on the policy is paid.
			 Standard Premium does not include the following items which are considered in
			 calculating the total cost of coverage:
(a)
			 Expense constant,
(b) Premium
			 discount,
(c) Modification of
			 individual risk expense provision,
(d) Retrospective rating adjustments,
(e) Assigned Risk Adjustment
			 Program (ARAP) surcharge,
(f)
			 Second Injury Fund Premium Surcharge,
(g) Workers' Compensation Commission Funds
			 surcharge,
(h) Deductible program
			 credit, and (i) United States Longshore and Harbor Workers' Compensation Act
			 coverages. Direct written premium excludes premium assumed or ceded in a
			 reinsurance transaction. Nothing in the definition of standard premium shall
			 prohibit an insurer from excluding written premium not collectable due to
			 policy cancellation.