Minnesota Legislature
Office of the Revisor of Statutes
Minnesota Administrative Rules
2780.0100 DEFINITIONS.
Subp. 3.
Classification.
"Classification" means the manual classification as determined by the Workers' Compensation Insurers Rating Association's manual of rules, rates, and classifications approved for use in Minnesota by the commissioner, pursuant to Minnesota Statutes, section 79.071.
Subp. 6.
Current ratio.
"Current ratio" means the ratio of current assets to current liabilities in the most recent financial statement.
Subp. 7.
Deficit.
"Deficit" as regards the group self-insurer's fund means the excess of the amount necessary to fulfill all obligations under the Workers' Compensation Act for all fund years that the group has been in operation over all fund moneys.
Subp. 9.
Fund year.
"Fund year" for group self-insurers means that period of time which the group self-insurer shall designate for the purposes of collecting premiums from its members and for determining any deficit or surplus. Such period of time shall correspond with the fiscal year of the group. Any claim arising within the accident year upon which the fund year is based shall be included in that fund year.
Subp. 10.
Modified premium.
"Modified premium" means the total manual premium as defined in the Workers' Compensation Insurers Rating Association's manual of rules, classification, and rates approved for use in Minnesota, modified by an experience rating plan approved by the commissioner, pursuant to Minnesota Statutes, section 79.071.
Subp. 11.
Self-insurer.
"Self-insurer" means both individual and group self-insurers unless the context clearly indicates a more restrictive definition.
Subp. 12.
Self-insurer's fund.
"Self-insurer's fund" means any monetary fund or account created by a group self-insurer to pay workers' compensation claims due under the Workers' Compensation Act.
Subp. 13.
Surplus.
"Surplus," as regards the group self-insurer's fund, means the excess of all fund moneys over the amount necessary to fulfill all obligations under the Workers' Compensation Act for all fund years that the group has been in operation.
Subp. 14.
Workers' Compensation Act.
"Workers' Compensation Act" means Minnesota Statutes, chapter 176.
Subp. 15.
Workers' Compensation Reinsurance Association; WCRA.
"Workers' Compensation Reinsurance Association" means that association governed by Minnesota Statutes, sections 79.34 to 79.40.
Subp. 16.
Workers' compensation service company.
"Workers' compensation service company" means an entity which has obtained a license from the commissioner pursuant to parts 2780.6100 to 2780.6900 to contract with self-insurers for the purpose of providing services necessary to plan and maintain an approved self-insurance program. An employer that has been granted the authority to self-insure pursuant to parts 2780.1100 to 2780.1700 and administers its own self-insurance program shall be deemed a duly licensed workers' compensation service company for the purposes of servicing a self-insurance program of any affiliated company.
History:
L 1983 c 289 s 114 subd 1; L 1984 c 655 art 1 s 92; 12 SR 846
Published Electronically:
September 14, 2007
Official Publication of the State of Minnesota
Revisor of Statutes