reglab/statecodes huggingface dataset:
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.07 - Governing Articles: Article I › Section 19-5-4.07.3 - Definitions

Current through June 25, 2024
A.
Advisory Board
and
Board
mean the Advisory Board of the Mississippi
				  Workers' Compensation Assigned Risk Pool.
B.
Articles
mean
				  these Governing Articles of the Mississippi Workers' Compensation Assigned Risk
				  Pool.
C.
Commissioner
means the Commissioner of Insurance of
				  the State of Mississippi.
D.
Member
means an insurance company whose license to
				  write workers compensation insurance under Chapter 3 of Title 71 of the
				  Mississippi Code of 1972, as amended, has not been revoked.
E.
Plan
means the
				  Mississippi Workers' Compensation Assigned Risk Plan as provided for under
				  Section
				  71-3-111,
				  Mississippi Code of 1972, as amended, and any regulations promulgated pursuant
				  thereto.
F.
Plan
				  Administrator
means the organization appointed by the Commissioner
				  to administer the affairs of the Plan.
G.
Pool
means the
				  Mississippi Workers' Compensation Assigned Risk Pool as provided for under
				  Section
				  71-3-111,
				  Mississippi Code of 1972, as amended, and any regulations promulgated pursuant
				  thereto.
H.
Pool
				  Administrator
means the organization appointed by the Commissioner
				  to administer the affairs of the Pool.
I.
Servicing Carrier
means a Member of the Pool that has been appointed by the Commissioner to
				  receive assignments and provide coverage to eligible employers pursuant to the
				  Plan on behalf of all other Pool Members.
J.
Reinsurance
				  Agreements
mean those reinsurance agreements entered into by and
				  between the Servicing Carriers and the Pool pursuant to these Governing
				  Articles.
K.
Net
				  Premiums Written
means 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 the Plan, and for
				  employers written under the National Defense Projects Rating Plan and under
				  excess policies.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.08 - Governing Articles: Article II › Section 19-5-4.08.1 - Membership

Current through June 25, 2024
Each insurance company authorized to write workers
					 compensation and employers liability insurance in Mississippi shall be a Member
					 of and a participant in the Pool, shall participate in the Plan, and shall be
					 bound by these Articles as a condition of its authority to transact workers
					 compensation and employers liability insurance in Mississippi.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.08 - Governing Articles: Article II › Section 19-5-4.08.2 - Termination of Membership

Current through June 25, 2024
A Member's membership in the Pool shall be terminated upon
					 the occurrence of one or more of the following events:
A. withdrawal or non-renewal of the Member's
				  license to write workers compensation insurance in Mississippi;
B. revocation of the Member's license to
				  write workers compensation insurance in Mississippi by the Commissioner;
				  or
C. adjudication of insolvency of
				  the Member.
Any provision herein to the contrary notwithstanding, a
					 Member shall be deemed to be a member of the Pool for any policy year
					 corresponding to a calendar year during which such Member has positive net
					 workers compensation premiums written in Mississippi as reported in its Annual
					 Statement to the Mississippi Department of Insurance.
Miss. Code Ann.
§
												71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.08 - Governing Articles: Article II › Section 19-5-4.08.3 - Members' Obligation

Current through June 25, 2024
A. Each member
				  shall:
1. designate and provide to the Pool
				  Administrator the name and address of an official of the Member's organization
				  with authority to represent the Member in its dealings with the Pool and to
				  whom all correspondence from the Pool shall be sent;
2. report to the Pool Administrator, in the
				  form and manner prescribed by the Pool Administrator, the workers compensation
				  premiums written by such Member during each calendar year;
3. provide to the Pool Administrator such
				  other information as the Pool Administrator may require to administer the
				  affairs of the Pool and to determine the Member's share of the Pool's surplus
				  or deficit or the Member's ability to meet its obligations to the
				  Pool;
4. promptly pay, when ordered
				  by the Pool Administrator and approved by the Commissioner, all assessments;
				  and
5. comply with such operational
				  or administrative procedures as the Commissioner, or the Pool Administrator
				  with the approval of the Commissioner, may prescribe.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.08 - Governing Articles: Article II › Section 19-5-4.08.4 - Obligations After Termination

Current through June 25, 2024
Any Member whose membership in the Pool is terminated shall
					 nevertheless continue to be governed by all Pool and Plan rules for all policy
					 years for which the Member was a participant in the Pool. The Pool
					 Administrator shall, as soon as reasonably practical following a Member's
					 termination, estimate the balance of the Members account in the Pool based on
					 information then available. At the discretion of the Pool Administrator, the
					 Member's account shall be settled either by payment in full of the estimated
					 amount due to or from the Member or by periodic distributions and /or
					 assessments at the time and in the manner applicable to other Pool Members for
					 the policy years for which the Member was a participant.
No payment to or from the terminated Member of the
					 estimated balance of such Member's account shall in any way effect the Pool
					 Administrator's right to make additional assessments against the terminated
					 Member and/or demand reimbursement of amounts previously distributed to the
					 terminated Member based on subsequent developments for the policy years for
					 which the Member was a participant in the Pool.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.1 - Annual Meetings of Pool Members

Current through June 25, 2024
The Members of the Pool shall meet annually during the
					 month of March at such place as the Board may determine, subject to approval of
					 the Commissioner. If the annual meeting for any year shall not be duly held,
					 the Board shall cause a special meeting of the Members to be held as soon
					 thereafter as possible, in lieu of and for the purpose of conducting an annual
					 meeting, and all proceedings of such special meeting shall have the same force
					 as if taken at the regular annual meeting.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.2 - Special Meetings of the Pool Members

Current through June 25, 2024
Special meetings of the Members may be called at any time
					 by the Chairman of the Board or by the Commissioner or by the Pool
					 Administrator and special meetings shall be called by the Chairman of the Board
					 upon the written request of five (5) Members of the Pool or the Commissioner or
					 the Pool Administrator.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.3 - Notice of Pool Member Meetings

Current through June 25, 2024
Except as otherwise provided in this Article, notice of
					 each annual and special meeting shall be given or caused to be given by the
					 Chairman of the Board, in writing, mailed or hand delivered or telefaxed to
					 each Member at the last address appearing on the records of the Pool. Each
					 Member shall be provided not less than thirty (30) days notice of the annual
					 meeting of the Pool. If notice of a meeting of Members other than the annual
					 meeting is given by mail to a Member such notice shall be placed in the mail
					 not less than eight (8) days prior to the meeting. If notice of a meeting of
					 the Members, other than the annual meeting, is given by hand delivery or by
					 telefax, it shall be so given not less than five (5) days prior to the
					 meeting.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.4 - Quorum

Current through June 25, 2024
Five (5) or more Members present or represented at any
					 meeting of the Members shall constitute a quorum.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.5 - Purpose of Meetings

Current through June 25, 2024
The Advisory Board of the Pool shall be nominated at the
					 annual meeting of the Members. The purpose of any special meeting shall be
					 stated in the notice thereof. At all such meetings, including the annual
					 meeting, Members may consider and act upon matters brought before the
					 membership.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.6 - Voting Rights

Current through June 25, 2024
Each Member shall be entitled to one vote at all meetings
					 of the Pool. Actions of the Pool shall require the affirmative vote of a
					 majority of the Members present at such meeting, either by representative or
					 proxy, and the affirmative vote of those Members writing more than fifty
					 percent (50[CENT]) of the total Mississippi workers compensation net written
					 premium for the latest calendar year for which data is available.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.7 - Proxies

Current through June 25, 2024
Members may be represented at any meeting of the Pool by
					 proxy. Members may record their votes by mail on written propositions and such
					 votes shall have the same standing as if cast by such Members in person or by
					 proxy.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.8 - Minutes of Meetings

Current through June 25, 2024
Minutes of all meetings of the Members of the Pool, and of
					 the Board, shall be sent to the Advisory Board members and the Commissioner,
					 and shall be available to Members upon request to the Pool
					 Administrator.
Miss. Code Ann.
§
											71-3-111
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.9 - Advisory Board

Current through June 25, 2024
The Pool shall have an Advisory Board composed of
					 representatives of the Members of the Pool. The Advisory Board shall be
					 appointed by the Commissioner from nominations made by the Members. The Members
					 shall nominate not less than twice as many nominees as available positions for
					 consideration by the Commissioner.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.10 - Numbers and Term of Office

Current through June 25, 2024
The Advisory Board shall be comprised of seven (7) of the
					 Members of the Pool. No more than three (3) Servicing Carriers shall serve on
					 the Advisory Board at any time. The Commissioner and Pool Administrator shall
					 serve as ex officio, nonvoting Members of the Advisory Board. Board
					 appointments shall be made as follows:
A. the three (3) Board members initially
				  appointed to serve a term of three (3) years shall serve until April 1, 1997;
				  and.
B. the four (4) Board members
				  initially appointed to serve a term of two (2) years shall serve until April 1,
				  1996.
At April 1, 1996, two (2) Board members shall be appointed
					 to serve a term of two (2) years (through April 1, 1998) and two (2) Board
					 members shall be appointed to serve a term of three (3) years (through April 1,
					 1999). Succeeding appointments to the Board shall be for terms of three (3)
					 years.
Board members shall serve for calendar years beginning on
					 April 1 of the calendar year in which the Board member is appointed. No Member
					 of the Pool serving on the Board for a full term shall succeed itself, except
					 where a sufficient number of non-succeeding Members of the Pool shall not
					 accept appointment to the Board. Each Member of the Pool elected to the Board
					 shall designate a knowledgeable representative of suitable senior standing and
					 shall select two alternates of similar standing to attend Board meetings and
					 vote on matters brought before the Board.
Miss. Code Ann.
§
												71-3-111
					 and §
												71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.11 - Vacancies

Current through June 25, 2024
If a vacancy occurs on the Advisory Board, the Commissioner
					 shall appoint a replacement to fill the unexpired term.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.12 - Board Meetings

Current through June 25, 2024
The Advisory Board shall meet during the month of March of
					 each calendar year for the purpose of electing officers to serve for the next
					 ensuing year and for the transaction of all other business upon which the Board
					 is authorized to act. Other regular meetings of the Advisory Board shall be
					 held on such dates as the Board may from time to time determine. Special
					 meetings of the Board may be called at any time by the Chair, and shall be
					 called by the Chair upon written request of three (3) non-affiliated members of
					 the Board. Notice of regular or special meetings of the Board shall be given as
					 may be determined by the Board or, in the event the period of notice shall not
					 have been prescribed, as the Chair shall deem reasonable.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.13 - Place of Board Meetings

Current through June 25, 2024
All meetings of the Board shall be held at a place
					 designated by the Chairman of the Board, subject to approval of the
					 Commissioner.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.14 - Quorum and Voting Rights of Board

Current through June 25, 2024
A majority of the Advisory Board shall constitute a quorum.
					 Each Advisory Board member shall be entitled to one (1) vote. An Advisory Board
					 member's vote may be cast only by its representative, or in his or her absence,
					 by its alternate. Proxy voting shall not be permitted. Any action of the Board
					 requires the affirmative vote of a majority of the Board present at the meeting
					 in which such action is considered. Provided, however, that a vote may not be
					 taken on any question at a meeting of the Board unless the number of Board
					 members present at the meeting who are not Servicing Carriers equals or exceeds
					 the number of members of the Board who are Servicing Carriers present at the
					 meeting. If such votes are not cast, the matter fails adoption except as
					 provided for elsewhere in these Articles. In the absence of a quorum, the Board
					 shall have no power except that a majority of the Board in attendance may
					 adjourn the meeting from time to time until a quorum shall attend. Action may
					 also be taken without meeting by mail, telephone, or telefax upon the
					 affirmative vote of a majority of the Board provided all Board members are
					 polled and no member of the Board demands a meeting.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.15 - Organization and Procedure

Current through June 25, 2024
The members of the Advisory Board shall elect a Chair and
					 an Executive Vice-Chair. The Chair may also appoint one (1) or more Vice-Chairs
					 and assign such responsibility to them as the Chair may determine within the
					 authority granted to the Chair. The Chair, or in his or her absence, the
					 Executive Vice-Chair, or in the absence of both, a Chair Pro tem elected by the
					 Advisory Board present shall act as Chair of each meeting of the Board. The
					 Pool Administrator shall act as Secretary of each meeting of the Board and
					 shall keep a record of the Board's proceedings. The order of business at all
					 meetings of the Board shall be determined by the Chair.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.16 - Disputes and Appeals

Current through June 25, 2024
The Advisory Board shall constitute a committee to hear,
					 consider and render decisions upon all disputes arising with respect to these
					 Articles including, without limitation, questions relating to the application,
					 scope and effect of these Articles. Appeals from decisions of the Pool
					 Administrator shall be reviewed and a decision shall be issued by the Board,
					 which decision may then be appealed to the Commissioner in accordance with the
					 dispute resolution procedures hereinafter set forth in Article IV.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.17 - Duties of Board Chair

Current through June 25, 2024
The Chair shall be the Chief Executive Officer of the
					 Advisory Board, and shall have overall control of and responsibility for all
					 activities subject to these Articles and other powers which are incidental
					 thereto.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.18 - Duties of Board Executive Vice-Chair

Current through June 25, 2024
The Executive Vice-Chair shall have immediate charge,
					 subject to the direction and control of the Chair, of such matters as may be
					 assigned to him or her by the Chair. In the Chair's absence or inability for
					 any reason to act as the Chair, his or her duties and powers under these
					 Articles may, with like effect, be performed and exercised by the Executive
					 Vice-Chair.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.19 - Board Committees

Current through June 25, 2024
The Chair may from time to time appoint committees assigned
					 to perform such duties as the Chair may deem desirable.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.20 - Authority of Advisory Board

Current through June 25, 2024
The Advisory Board shall have the powers and authorities
					 specifically herein set forth and such other powers and authorities as may from
					 time to time be granted to the Advisory Board by the Commissioner.
Miss. Code Ann.
§
											71-3-111
					 and §
											71-3-119
					 (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.21 - Compensation of Advisory Board

Current through June 25, 2024
The Advisory Board shall serve without
					 compensation.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.09 - Governing Articles: Article III › Section 19-5-4.09.22 - Meetings of the Servicing Carriers

Current through June 25, 2024
The Servicing Carriers shall meet annually immediately
					 following the annual meeting of the Members of the Pool. Special meetings of
					 the Servicing Carriers may be called at any time by the Commissioner or the
					 Pool Administrator and shall be called by the Pool Administrator upon the
					 written request of three (3) Servicing Carriers. The Pool Administrator shall
					 give reasonable notice of special meetings.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.1 - Fiscal Year

Current through June 25, 2024
The Fiscal year of the Pool shall be the calendar year
					 unless otherwise established by the Commissioner.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.2 - Funds of the Pool

Current through June 25, 2024
Funds held by the Pool, including funds remitted by
					 Servicing Carriers in accordance with the Reinsurance Agreements, and funds
					 withheld pursuant to Article II, shall be kept on deposit in such banks, trust
					 companies, or other depositories as may from time to time be designated and
					 prescribed by the Commissioner. The Pool Administrator shall invest Pool funds
					 only in investments of a type and quality as will qualify as fully admitted
					 assets under the rules of the National Association of Insurance commissioners.
					 Disbursements from Pool funds shall be made by the Pool Administrator only as
					 authorized by the Commissioner. The Pool Administrator shall keep accurate
					 records to identify all deposits, withdrawals, and investment of Pool funds,
					 which records shall be available for review by the Commissioner and Chairman of
					 the Advisory Board at any time.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.3 - Investment Income

Current through June 25, 2024
Except for earning on funds held pursuant to Article II,
					 income earned on funds of the Pool shall be held by the Pool Administrator in
					 the same manner as premiums remitted by Servicing Carriers under the
					 Reinsurance Agreements and shall be included in the determination of the Pool's
					 operating results in accordance with the terms provided herein. Income earned
					 on funds held pursuant to Article II shall accrue to the Member providing the
					 security required.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.4 - Expenses of Administration

Current through June 25, 2024
Expenses incurred by the Commissioner, or by the Pool
					 Administrator at the direction of the Commissioner, in the administration of
					 the affairs of the Pool shall be a proper charge against the Pool. A record
					 shall be kept of all such expenses, and the amount thereof shall be included in
					 financial statements to Members along with other transactions of the Pool. Such
					 expenses may be paid out of funds held by the Pool or may be assessed against
					 the Members.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.5 - Examinations and Reserves

Current through June 25, 2024
The Commissioner shall review loss payments and reserves
					 for outstanding claims as reported to the Pool Administrator by the Servicing
					 Carriers for the purpose of determining the underwriting results from policies
					 issued pursuant to the Plan. The Commissioner may establish, in his sole
					 discretion, additional reserves as he may deem necessary to adequately reflect
					 such underwriting results. There shall be an annual independent actuarial
					 evaluation of the Pool's reserves for unpaid losses.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.6 - Transactions, Accounts, and Financial Statements

Current through June 25, 2024
Separate accounts shall be maintained by the Pool
					 Administrator covering transactions for each policy year based on the
					 information provided by Servicing Carriers pursuant to the Reinsurance
					 Agreements. The operating deficit or surplus of a policy year shall be the net
					 of premiums earned and losses and expenses incurred with respect to policies
					 issued during the calendar year corresponding to the policy year, reduced by
					 administrative and other expenses paid and accrued during the calendar year
					 corresponding to the policy year and increased by investment income attributed
					 to the policy year. Investment income on funds of the Pool, except funds held
					 pursuant to Article II, shall be apportioned among policy years based on the
					 relationship which a given policy year's funds available for investment bears
					 to all policy years' funds available for investment.
The Pool Administrator shall prepare and deliver to each
					 Member an annual report of each policy year's transactions during the preceding
					 calendar year and the Member's proportion of each policy year's deficit or
					 surplus from operations.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.7 - Allocation of Operating Results

Current through June 25, 2024
The operating deficit or surplus for each policy year shall
					 be allocated to Members in proportion to their net workers compensation premium
					 writings in Mississippi during the calendar year corresponding to the policy as
					 reported by Members in their Annual Statements to the Mississippi Department of
					 Insurance for such calendar year.
Members which voluntarily write workers compensation
					 insurance policies which would otherwise have been renewed through the Plan
					 shall be allowed a deduction from the amount of net workers compensation
					 premiums written in Mississippi as reported in their Annual Statement, subject
					 to rules prescribed by the Pool Administrator and approved by the Commissioner.
					 In no event shall the amount of the deduction allowed hereunder during any
					 calendar year exceed the amount of net workers compensation premiums written in
					 Mississippi during the same calendar year.
To the extent that an allocation required hereunder must be
					 made prior to the availability of the report of actual net workers compensation
					 premiums for the calendar year to which such allocation applies, the net
					 workers compensation premiums for the preceding calendar year shall serve as
					 the temporary basis for such allocation. Allocations so made shall be adjusted
					 to reflect actual net workers compensation premiums written when actual amounts
					 are available. Iffor any reason the foregoing basis should prove inappropriate
					 in a given case, the Pool Administrator shall make an equitable adjustment in
					 the basis for allocation.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.8 - Distributions, Assessments and Refunds

Current through June 25, 2024
The Pool Administrator shall establish and maintain a
					 separate account for each Member in which the Member's share of each policy
					 year's operating deficit or surplus shall be recorded. At the end of each
					 calendar year, the Pool Administrator shall examine the operating results of
					 each policy year and the condition of each account to determine if a
					 distribution or assessment is appropriate. The determination of the Pool
					 Administrator shall be reviewed by the Advisory Board which shall concur or
					 make its own determination. The Commissioner shall review the determination of
					 the Pool Administrator and the Advisory Board, if different, and make the final
					 determination of the amount and timing of any distribution or
					 assessment.
The Pool shall always maintain funds adequate to meet its
					 cash flow obligations. Projections of anticipated cash requirements shall be
					 made to assure the adequacy of funds held by the Pool. Interim assessments may
					 be levied by the Commissioner at any time that he, in his sole discretion,
					 deems an assessment necessary to meet the obligations of the Pool.
Any assets remaining on hand in the Pool on the date of
					 final termination, as specified by the Commissioner, after payment or
					 appropriate reserves of any and all outstanding expenses and claims, shall be
					 remitted to the general fund of the State of Mississippi.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.9 - Borrowing Authority

Current through June 25, 2024
The Pool may borrow money to effect the purposes of these
					 Articles. No loans shall be contracted on behalf of the Pool and no evidences
					 of indebtedness shall be issued in its name unless authorized by the
					 Commissioner.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.11 - Governing Articles: Article V › Section 19-5-4.11.10 - Reports to the Commissioner

Current through June 25, 2024
On or before June 30th of each
					 calendar year, the Pool Administrator shall file with the Commissioner a report
					 of the Pool's financial condition at the end of the immediately preceding
					 calendar year and the results of Pool operations for such immediately preceding
					 calendar year. The report shall include information regarding the condition of
					 Members' accounts, the make-up and character of the Pool's investment
					 portfolio, and accident year development of the Pool's losses. The Commissioner
					 may require such other information as he deems necessary to the proper
					 administration of the Pool.
The accounts of the Pool and the Pool Administrator's
					 reports to the Commissioner shall be annually audited on a statutory accounting
					 basis by an independent certified public accounting firm.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.12 - Governing Articles: Article VI › Section 19-5-4.12.1 - Indemnification

Current through June 25, 2024
Any person or insurer against whom any claim, demand,
					 action, suit or proceeding is made, commenced, asserted or threatened by reason
					 of or relating to the fact that such person or insurer is or was: (a) a Member
					 of the Pool; (b) a member of the Advisory Board; (c) a Servicing Carrier; (d)
					 the Plan Administrator; (e) the Pool Administrator; or (f) an officer, partner,
					 employee or agent of any of the foregoing shall be indemnified against all
					 judgments, fines, amounts paid in settlement, reasonable costs and expenses
					 including attorney's fees, and any other liabilities that may be incurred as a
					 result of such claim, demand, action, suit or proceeding made, commenced,
					 asserted or threatened except with respect to matters: (a) as to which he, she
					 or it shall be adjudged to be liable by reason of willful misconduct in the
					 performance of his, her or its duties or obligations to the Pool or the Members
					 thereof; and (b) any criminal actions or proceedings, where such person or
					 insurer had reasonable cause to believe that his, her or its conduct was
					 unlawful. Such indemnification shall be provided whether or not such person or
					 insurer is one of the persons hereinabove described at the time such claim,
					 demand, action, suit or proceeding is made, commenced, asserted or threatened.
					 Such indemnification shall be limited to only those claims, demand, actions,
					 suits and proceedings relating to or arising from the Pool or the Plan as
					 herein defined, including, without limitation, the establishment,
					 administration and operation of the Pool and Plan. Such indemnification shall
					 not be exclusive of other rights such person or insurer may have, and shall
					 pass to the successors, heirs, executors or administrators of such person or
					 insurer. The termination of any such civil or criminal action, suit or
					 proceeding by judgment, settlement, conviction or upon a plea of nolo
					 contendere, or its equivalent, shall not in itself create a presumption that
					 any such person or insurer was liable by reason of willful misconduct, or that
					 he, she or it had reasonable cause to believe that his, her or its conduct was
					 unlawful. If any such claim, demand, action, suit or proceeding is compromised,
					 it must be with the approval of the Commissioner provided; however, the
					 Commissioner may delegate to the Pool Administrator the authority to approve
					 any such compromise of financial liability.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.12 - Governing Articles: Article VI › Section 19-5-4.12.2 - Entitlement to Indemnification

Current through June 25, 2024
In each instance in which a question of indemnification
					 arises, entitlement thereto, pursuant to the conditions set forth in section
					 6.1 of this Article, shall be determined by the Commissioner who shall also
					 determine the time and manner of payment of such indemnification; provided,
					 however, that a person or insurer who or which has been wholly successful, on
					 the merits or otherwise, in the defense of a civil or criminal action, suit or
					 proceeding of the character described in section 6.1 of this Article shall be
					 entitled to indemnification as authorized in such Article. The Commissioner may
					 delegate to the Pool Administrator the authority to determine, in a manner
					 consistent with this Article, entitlement to indemnification, and the time and
					 manner of payment of such indemnification, for any indemnification requiring
					 payment which is less than an amount as may be fixed from time to time by the
					 Commissioner. The rights hereunder provided shall not be exclusive of the
					 rights to which any person or insurer may be entitled as a matter of
					 law.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.12 - Governing Articles: Article VI › Section 19-5-4.12.3 - Indemnification Expense

Current through June 25, 2024
All indemnity paid or expense incurred by the Pool by
					 reason of the indemnification provided above shall be an operating expense of
					 the Pool incurred in the calendar year in which such indemnity is paid or
					 expense is incurred and shall be assessed and collected as an operating expense
					 of the Pool under the provisions of these Articles.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.13 - Governing Articles: Article VII › Section 19-5-4.13.1 - Amendments

Current through June 25, 2024
The provisions of these Articles, and any amendments
					 hereto, shall be subject to amendment, alteration, repeal or re-enactment at
					 the discretion of the Commissioner. Any such amendments to these Articles shall
					 become effective on the date specified by the Commissioner in the
					 amendment.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.13 - Governing Articles: Article VII › Section 19-5-4.13.2 - Termination

Current through June 25, 2024
The authority to terminate this Pool is vested in the
					 Commissioner. In the event of termination of this Pool by the Commissioner, the
					 termination shall be effective as of the date set forth by the Commissioner and
					 the procedure for winding up affairs for this Pool shall be accomplished
					 pursuant to the direction of the Commissioner.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 4 - (2007-2) Mississippi worker's compensation assigned risk plan and the Mississippi workers' compensation assigned risk pool › Rule 19-5-4.14 - Governing Articles: Article VIII - Effective Date

Current through June 25, 2024
These Articles shall be effective April 15, 2007.
Pursuant to the authority granted in Section
				  71-3-111,
				  Mississippi Code of 1972, as amended, and Regulations promulgated thereunder, I
				  George Dale, in my capacity as Commissioner of Insurance of the State of
				  Mississippi do hereby adopt these Governing Articles of the Mississippi
				  Workers' Compensation Assigned Risk Pool.
Miss. Code Ann.§
				  25-43-3-113(Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 5 - (2009-1) General Property and Casualty Binders, Certificates of Insurance or Indemnity Agreements › Rule 19-5-5.01 - Purpose

Current through June 25, 2024
The purpose of this Regulation is to clarify and set out the
				  basic responsibilities of insurance companies ("insurers") and insurance
				  producers ("producers") as to the extension or restriction of property and
				  casualty insurance commercial lines coverages by the use of a binder,
				  certificate of insurance, indemnity agreement or any other similar type of
				  instrument.
Miss. Code Ann.
				  §§
										83-5-29
				  through
				  83-5-51
				  (Rev. 2011); 83-17-1 through 83-17-89 (Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 5 - Non-Auto Property and Casualty Insurance › Chapter 5 - (2009-1) General Property and Casualty Binders, Certificates of Insurance or Indemnity Agreements › Rule 19-5-5.02 - Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance pursuant to the authority granted to him by
Miss. Code
				  Ann.
33 83-5-17; 83-5-29 through 83-5-51; and 83-17-1 through
				  83-17-89 (Rev. 2001), as well as the provisions of Mississippi Department of
				  Insurance Regulation No. 88-101, said regulation being the Rules of Practice
				  and Procedure before the Mississippi Insurance Department.
Miss. Code Ann.
				  §§
										83-5-29
				  through
				  83-5-51
				  (Rev. 2011); 83-17-1 through 83-17-89 (Rev
				  2011)