Indiana Code 27-7-2-4.5. Premium or rate discount for municipal corporations or volunteer fire departments
Current as of: 2023 | Check for updates
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Terms Used In Indiana Code 27-7-2-4.5
- Bureau: means the worker's compensation rating bureau of Indiana. See Indiana Code 27-7-2-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the department of insurance of this state. See Indiana Code 27-7-2-2
- Rate: means the cost of insurance per exposure base unit, prior to any application of individual risk variations based on loss or expense considerations, and does not include minimum premiums. See Indiana Code 27-7-2-2
Sec. 4.5. The bureau may recommend a premium or rate discount for a municipal corporation purchasing or procuring worker’s compensation insurance under IC 22-3-2-2(c) or a volunteer fire department purchasing worker’s compensation insurance under IC 36-8-12-10 that has implemented the best practices established under IC 36-8-10.5-11.
As added by P.L.72-2020, SEC.1.