Florida Regulations 69O-190.069: Self-Insurers Fund Member Experience Records
Current as of: 2024 | Check for updates
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(1) Employers participating in a self-insurers fund under the provisions of Florida Statutes § 624.4621, shall be subject to the Experience Rating Plan and the payroll classification and premium determination system established by the National Council on Compensation Insurance (NCCI).
(2) The Office shall determine an experience modification for each qualified member of a self-insurers fund annually, or as otherwise provided, on the same basis as if the employer were insured under the provisions of Section 440.38(1)(a), F.S., and such modification is to be used to determine the employer’s standard premium as provided by these rules and the indemnity agreement. Funds shall submit only those members who qualify for experience rating in accordance with the NCCI Experience Rating Plan Manual.
(3) For any fund member who’s experience must be combined with the experience modification factor of an insured group because of ownership requirements under the NCCI Experience Rating Plan, the fund must provide its experience to NCCI and have a combined experience modification factor calculated by NCCI. Any expenses of this transaction shall be the responsibility of the fund.
(4) Each self-insurers fund administrator and each self-insurers fund service company, if applicable, may be furnished a copy of the experience rating calculations.
(5) Should a member cease to participate in a self-insurers fund and purchase standard insurance coverage, the Experience Rating Plan provides that self-insured experience may be used in the employer’s future experience rating calculation.
(6) Loss experience tabulations will be furnished upon request of the employer and a fee for such services may be assessed to defray preparing such tabulations, such cost to be actual reimbursement to the Office.
Rulemaking Authority 440.38(2)(b), 624.4621 FS. Law Implemented 440.49(7)(h)2., 440.51, 624.4621 FS. History-New 10-1-82, Formerly 38F-5.69, Amended 12-19-93, Formerly 38F-5.069, 4-190.069.
(3) For any fund member who’s experience must be combined with the experience modification factor of an insured group because of ownership requirements under the NCCI Experience Rating Plan, the fund must provide its experience to NCCI and have a combined experience modification factor calculated by NCCI. Any expenses of this transaction shall be the responsibility of the fund.
(4) Each self-insurers fund administrator and each self-insurers fund service company, if applicable, may be furnished a copy of the experience rating calculations.
(5) Should a member cease to participate in a self-insurers fund and purchase standard insurance coverage, the Experience Rating Plan provides that self-insured experience may be used in the employer’s future experience rating calculation.
(6) Loss experience tabulations will be furnished upon request of the employer and a fee for such services may be assessed to defray preparing such tabulations, such cost to be actual reimbursement to the Office.
Rulemaking Authority 440.38(2)(b), 624.4621 FS. Law Implemented 440.49(7)(h)2., 440.51, 624.4621 FS. History-New 10-1-82, Formerly 38F-5.69, Amended 12-19-93, Formerly 38F-5.069, 4-190.069.