Delaware Code Title 19 Sec. 2395 – Workers’ Compensation Fund; payments by insurance carriers
(a) Every insurance carrier insuring employers who are or may be liable under this chapter to pay for compensation for personal injuries to or death of their employees under this chapter shall pay to the Department annually, on or before March 1 and October 1 of each year, a sum not to exceed 1 percent at each date on all workers’ compensation or employer liability premiums received by the carrier during the calendar year next preceding the due date of such payment.
Terms Used In Delaware Code Title 19 Sec. 2395
- Department: means the Department of Labor. See Delaware Code Title 19 Sec. 2301
- Employer: includes all those who employ others unless they are excluded from the application of this chapter by any provision of this subchapter, and if the employer is insured, the term shall include the insurer as far as practicable; employer shall also include the governing body for which employable relief recipients are assigned work under §§ 901-905 of Title 31. See Delaware Code Title 19 Sec. 2301
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Insurance carrier: means any insurance corporation, mutual association or company or interinsurance exchange which insures employers against liability under this chapter or against liability at common law for accidental injuries to employees. See Delaware Code Title 19 Sec. 2301
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) Such sums shall be paid by the Department to the State Treasurer, to be deposited in a special account known as “Workers’ Compensation Fund.” Such sums shall not be a part of the General Fund of the State. Any balance remaining in such special account at the end of any fiscal year shall not revert to the General Fund.
(c) The amounts paid under this section shall constitute an element of loss for the purpose of establishing workers’ compensation premium rates.
(d) Should the Department subsequently determine that the amounts assessed are insufficient to meet the Fund’s obligations during a calendar year, it may assess insurance carriers to cover any anticipated deficiency, based upon the allocations for that calendar year as determined pursuant to subsection (a) of this section.
(e) Should the Department subsequently determine that the amounts assessed are sufficient to meet the Fund’s obligations during a calendar year, it shall not assess insurance carriers until a deficiency is projected based upon the anticipated expenditures for the next calendar year as determined pursuant to subsection (a) of this section.
Code 1915, § ?3193j; 29 Del. Laws, c. 233; 30 Del. Laws, c. 203, § ?3; Code 1935, § ?6080; 45 Del. Laws, c. 299, § ?1; 46 Del. Laws, c. 26; 19 Del. C. 1953, § ?2395; 58 Del. Laws, c. 96, §§ ?2, 3; 58 Del. Laws, c. 531, § ?6; 59 Del. Laws, c. 554, §§ ?1, 2; 70 Del. Laws, c. 172, §§ ?3, 4; 70 Del. Laws, c. 186, § ?1; 71 Del. Laws, c. 84, §§ ?3, 9, 21, 22;