Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.97-001 - Reg. 54 - Arkansas Workers' Compensation Insurance Plan

Current through Register Vol. 49, No. 6, June, 2024
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A.
		  "Affiliated Insurer" An insurer that directly, or indirectly through one (1) or
		  more intermediaries, controls, or is controlled by, or is under common control
		  with another insurer specified. The terra "control" means the possession,
		  direct or indirect, of the power to direct or cause the direction of the
		  management and policies of an insurer, whether through the ownership of voting
		  securities, by contract, or otherwise. Control shall be deemed to exist if any
		  person or business enterprise, directly or indirectly, owns, controls, holds
		  with the power to vote, or holds proxies, representing ten (10) percent or more
		  of the voting securities of any other insurer.
B. "Articles of Agreement" or "Articles" The
		  reinsurance mechanism authorized under this Plan to provide reinsurance to the
		  servicing carriers on employers assigned to them under this Plan, which said
		  agreement and any amendments thereto shall be provided to and approved by the
		  Commissioner but which, in cases of conflict between them and this Rule and
		  Regulation, shall be subordinate to this Rule and Regulation.
C. "Assigned Carrier" or "Servicing Carrier"
		  The insurer authorized to receive Plan assignments and provide coverage to
		  eligible employers on behalf of those participating companies subscribing to
		  the Articles of Agreement incorporated as a part of the Plan in this
		  state.
D. "Collected Premium" The
		  gross direct premium charged and physically collected and receipted for all
		  employers subject to this Plan.
E.
		  "Commissioner" The Insurance Commissioner for the State of Arkansas.
F. "Employer" Any business organization or
		  enterprise that is required by statute to maintain workers compensation
		  insurance in this State. The term shall include any business organizations or
		  enterprises that are affiliated as a result of common management or common
		  ownership.
G. "National Council on
		  Compensation Insurance, Inc." or "NCCI" The rating organization or advisory
		  organization licensed in this State to make and file rates, rating values,
		  classifications, and rating plans for workers' compensation
		  insurance.
H. "Net Premiums
		  Written" The gross direct premiums charged less all premiums (except dividends
		  and savings refunded under participating policies) returned to insureds for all
		  Workers Compensation and Occupational Disease Insurance, exclusive of premiums
		  for employers subject to this Plan, and for employers written under the
		  National Defense Projects Rating Plan and under excess policies.
I. "Plan" or "WCIP" The Arkansas Workers'
		  Compensation Insurance Plan.
J.
		  "Plan Administrator" Such organization or organizations to which the
		  responsibility for administering the affairs of the Plan may, from time to
		  time, be delegated, including but not limited to such functions and duties as
		  rates, forms, and statistics.
K.
		  "Premium in Dispute" A workers' compensation insurance premium obligation in
		  which a bona fide dispute exists only if the employer or its representative has
		  provided:
(a) written notice to the insurer or
		  the servicing carrier detailing the specific areas of dispute;
(b) an estimate of the premium the employer
		  believes to be correct, with an explanation of the premium
		  calculation;
(c) payment of the
		  undisputed portion of the premium; and
(d) a written request that includes all
		  information relevant to the dispute to the Plan Administrator for a hearing
		  before the appropriate administrative or regulatory body having jurisdiction
		  over appeals on Plan matters.