SB0072 (CH0263)

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2017 Regular Session



Workers' Compensation - Tiered Rating Plans and Merit Rating Plans

Sponsored by:

Senator Klausmeier


Approved by the Governor - Chapter 263

Synopsis:Authorizing a workers' compensation insurer to develop a tiered rating plan that establishes discrete tiers based on risk attributes that are not arbitrary, capricious, or unfairly discriminatory and are reasonably related to the insurer's business and economic purposes; requiring a workers' compensation insurer to submit a tiered rating plan to the Insurance Commissioner at least 30 days in advance of the plan's use; authorizing a workers' compensation insurer to use a specified merit rating plan under specified circumstances; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Klausmeier, Eckardt, Middleton, Benson, Feldman, Hershey, Mathias, Reilly, and Rosapepe
Additional Facts:Cross-filed with: HB1315
Bill File Type: Pre-Filed
Effective Date(s): October 1, 2017
Finance  View Committee HearingEconomic Matters
Broad Subject(s):Workers' Compensation
Narrow Subject(s):Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Insurance -see also- Health Ins; MAIF; Motor Vehicle Ins
Workers' Compensation
Statutes:Article - Insurance

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November 28, 2017 1:08 P.M.