Virginia Administrative Code › Title 14 - INSURANCE › Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE › Chapter 370 - RULES GOVERNING GROUP SELF-INSURERS OF LIABILITY UNDER THE VIRGINIA WORKERS' COMPENSATION ACT › Section 14VAC5-370-20 - Definitions

Current through Register Vol. 40, No. 24, July 15, 2024
"Act" means the Virginia Workers' Compensation Act as
				  provided by Title 65.2 of the Code of Virginia.
"Administrator" means the individual, partnership or
				  corporation authorized to serve as a representative of an association and its
				  members in carrying out the policies of the board and managing the
				  association's activities.
"Commission" means State Corporation Commission.
"Common interest" means employers engaged in the same or
				  substantially similar industry, trade, commerce or profession, including
				  political subdivisions of this Commonwealth. Notwithstanding the foregoing, an
				  employer seeking membership in an association licensed on and before July 1,
				  2000, has a common interest if the industry, trade, commerce, profession or
				  other business activity of such employer is the same or substantially similar
				  to the business activity of an employer that was a member of the association on
				  and before July 1, 2000. If an association is licensed by the commission,
				  different businesses which are owned or controlled by a member of the
				  association are eligible for membership in such association.
"Contributions" means the amount of payments required of each
				  member in order to fund the association's obligations under the Act.
"Employer" shall have the definition provided by §
				  65.2-101 of the Code of Virginia.
"Group self-insurance association" or "association" means an
				  association organized by two or more employers having a common interest that
				  have entered into agreements to pool their liabilities under the Virginia
				  Workers' Compensation Act.
"Indemnity agreement and power of attorney" means the written
				  agreement executed by each member of the association in which each member (i)
				  agrees to assume and discharge, jointly and severally, any liability under the
				  Act of any and all members party to such agreement and (ii) grants the
				  administrator power of attorney to act for and bind the members in all
				  transactions relating to or arising out of the operations of the
				  association.
"Member" or "member in good standing" means an employer party
				  to an indemnity agreement for membership in a group self-insurance association
				  who has been approved in accordance with the requirements of
				  14VAC5-370-50.
"Members' supervisory board," or "board," means the
				  representative body selected by the members to be responsible for holding and
				  managing the assets and directing the affairs of the association and for
				  assuring that the association, through its members, is financially sound and
				  able to meet its obligations under the Act.
"Service agent" means any individual, partnership or
				  corporation that may provide services including, but not limited to, claims
				  adjustment, safety engineering, compilation of statistics and the preparation
				  of contribution payment and loss reports, preparation of other required
				  self-insurance reports and the administration of a claims
				  fund.
Statutory Authority
§§ 12.1-13 and 65.2-802 of the Code of Virginia.