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
Self-insurance: includes :
(i)
an arrangement under which a governmental entity undertakes to indemnify an employee for liability arising out of the employee's employment; and
(ii)
an arrangement under which a person with a managed program of self-insurance and risk management undertakes to indemnify the person's affiliate, subsidiary, director, officer, or employee for liability or risk that arises out of the person's relationship with the affiliate, subsidiary, director, officer, or employee. See Utah Code 31A-1-301
State program: means the program established under this chapter:
(a)
to implement the federal health coverage tax credit program; and
Trade Reform Act: means the Trade Adjustment Assistance Reform Act of 2002, 107 P. See Utah Code 31A-38-102
(a)
convert the bridge program to the state program through any of the following, or combination of the following, that the Department of Workforce Services considers best serves the needs of qualified participants:
(i)
a contract with a licensed insurance company authorized to do business in the state;
(ii)
through any other arrangement acceptable under the Trade Reform Act; or
(iii)
a self-insurance program through a third party administrator as provided in Subsection 31A-38-103(3)(b)(ii); and
(b)
obligate up to $2,000,000 of the Special Administrative Expense Account created in Section 35A-4-506 as reserves for the state program.
(2)
The money in Subsection (1)(b) may be used until the reserves in the state program become adequate.
Amended by Chapter 303, 2011 General Session Amended by Chapter 342, 2011 General Session
