Subdivision 1. Scope.
For the purposes of this chapter, the terms defined in this section
have the meaning given them.
Subd. 2. Commissioner.
"Commissioner" means the commissioner of commerce except
where specifically stated otherwise.
Subd. 3. Incurred liabilities for the payment of compensation.
"Incurred liabilities for the
payment of compensation" means the sum of both of the following:
(1) an estimate of future workers' compensation benefits, including medical and indemnity;
(2) an amount determined by the commissioner to be reasonably adequate to assure the
administration of claims, including legal costs, but not to exceed ten percent of future workers'
Subd. 4. Insolvent self-insurer.
"Insolvent self-insurer" means: (1) a member private
self-insurer who has failed to pay compensation as a result of a declaration of bankruptcy or
insolvency by a court of competent jurisdiction and whose security deposit has been called by
the commissioner pursuant to chapter 176; (2) a member self-insurer who has failed to pay
compensation and who has been issued a certificate of default by the commissioner and whose
security deposit has been called by the commissioner pursuant to chapter 176; or (3) a member
or former member private self-insurer who has failed to pay an assessment required by section
79A.12, subdivision 2
, and who has been issued a certificate of default by the commissioner and
whose security deposit has been called by the commissioner.
Subd. 5. Member.
"Member" means a private self-insurer which participates in the
self-insurers' security fund.
Subd. 6. Private self-insurer.
"Private self-insurer" means a member private employer
which is self-insured or a group which is self-insured against liability for workers' compensation
under chapter 176. It does not include the state of Minnesota or its political subdivisions.
Subd. 7. Security fund.
"Security fund" means the self-insurers' security fund established
pursuant to this chapter.
Subd. 8. Trustees.
"Trustees" means the board of trustees of the self-insurers' security fund.
Subd. 9. Certificate of default.
"Certificate of default" means a notice issued by the
commissioner of commerce based upon information received from the commissioner of labor and
industry, that a private self-insurer has failed to pay compensation as required by chapter 176.
Subd. 10. Common claims fund.
"Common claims fund," with respect to group self-insurers,
means the cash, cash equivalents, or investment accounts maintained by the self-insurance group
to pay its workers' compensation liabilities.
Subd. 11. Diminutive applicants.
"Diminutive applicants" to group self-insurance means
applicants to existing self-insurance groups whose equity and premium are both less than five
percent of the total group's equity and premium.
History: 1988 c 674 s 1; 1993 c 13 art 1 s 20; 1995 c 231 art 2 s 17-19; 1995 c 258 s 59;
1999 c 177 s 72,73