2006 Minnesota Statutes

79.361 POST-1992 DISTRIBUTION OF WORKERS' COMPENSATION REINSURANCE
ASSOCIATION SURPLUS.
    Subdivision 1. Scope. This section governs the distribution of excess surplus of the Workers'
Compensation Reinsurance Association declared after January 1, 1993. A distribution of excess
surplus is declared on the date the board votes to make a distribution. No distribution of excess
surplus other than that provided by this section may be made.
    Subd. 2. Self-insured. A self-insurer shall receive a distribution of excess surplus in an
amount equal to the self-insurer's share of the premiums paid to the Workers' Compensation
Reinsurance Association for the period and for each retention layer for which the distribution is
made.
    Subd. 3. Insured employers. A policyholder, other than a policyholder insured by the
assigned risk plan or the State Fund Mutual Insurance Company, shall receive a refund of a
share of the distribution equal to the policyholder's share of the annual total earned Minnesota
workers' compensation insurance premium, as reported to the commissioner of commerce in the
most recent annual statements of insurers, including the assigned risk plan and the State Fund
Mutual Insurance Company.
    Subd. 4. Assigned risk plan. A policyholder of the assigned risk plan shall receive a refund
of a share of the distribution equal to the policyholder's share of the annual total earned Minnesota
workers' compensation insurance premium, as reported to the commissioner of commerce in the
most recent annual statements of insurers, including the assigned risk plan and the State Fund
Mutual Insurance Company.
    Subd. 5. State Fund Mutual Insurance Company. A policyholder of the State Fund Mutual
Insurance Company shall receive a refund of a share of the distribution equal to the policyholder's
share of the annual total earned Minnesota workers' compensation insurance premium, as reported
to the commissioner of commerce in the most recent annual statements of insurers, including the
assigned risk plan and the state fund mutual insurance company.
    Subd. 6. Distribution defined. For the purpose of subdivisions 3 to 5, "distribution" means a
distribution described in subdivision 1 minus a distribution to self-insurers under subdivision 2.
    Subd. 7. Policyholder. For the purpose of this section "policyholder" means a workers'
compensation insurance policyholder in the calendar year preceding a declaration of excess
surplus by the board of the reinsurance association.
    Subd. 8. Information required. Insurers and the Workers' Compensation Insurers Rating
Association of Minnesota must provide the Workers' Compensation Reinsurance Association with
information necessary to administer and calculate the refunds to policyholders governed by
this section within 60 days of a request by the association. For the purpose of this subdivision,
"insurer" includes the assigned risk plan.
    Subd. 9. Refund due date. Policyholders must receive the refund within 60 days of the day
the reinsurance association receives the information required to be provided by subdivision 8.
    Subd. 10. Unclaimed refund. Any part of the refund not distributed within one year after
the due date of a refund under this section due to the inability to identify or locate policyholders
remains with the Workers' Compensation Reinsurance Association.
    Subd. 11. Costs of distribution. The reinsurance association may pay the actual and
reasonable costs of the refunds made under this section from earnings on a declared excess
surplus prior to its distribution.
History: 1993 c 361 s 4