In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the department shall make rules to monitor the following related to employers who can only obtain workers’ compensation insurance pursuant to Section 31A-22-1001 because of an underwriting standard or guideline described in Subsection (2):
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
(a)
the number of employers;
(b)
the type of employers;
(c)
the underwriting standard or guideline that causes the employer to obtain workers’ compensation under Section 31A-22-1001; or
(d)
similar information to the information described in Subsections (1)(a) through (c).
(2)
An underwriting standard or guideline described in Subsection (1) includes a standard or guideline regarding:
(a)
premium size;
(b)
class code and risk characteristics;
(c)
payroll and loss experience;
(d)
another factor identified by the department; or
(e)
a combination of the factors listed in Subsections (2)(a) through (d).
