Florida Statutes 440.572 – Authorization for individual self-insurer to provide coverage
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 440.572
- affiliated: includes , but is not limited to, the officers, directors, executives, shareholders active in management, employees, and agents of the affiliated corporation. See Florida Statutes 440.02
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Financial Services; the term does not include the Financial Services Commission or any office of the commission. See Florida Statutes 440.02
- Individual self-insurer: means any employer who has secured payment of compensation pursuant to…. See Florida Statutes 440.02
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Parent: includes stepparents and parents by adoption, parents-in-law, and any persons who for more than 3 years prior to the death of the deceased employee stood in the place of a parent to him or her and were dependent on the injured employee. See Florida Statutes 440.02
- Self-insurer: means :(a) Any employer who has secured payment of compensation pursuant to…. See Florida Statutes 440.02
- sister: include stepbrothers and stepsisters, half brothers and half sisters, and brothers and sisters by adoption, but does not include married brothers or married sisters unless wholly dependent on the employee. See Florida Statutes 440.02
An individual self-insurer having a net worth of not less than $250 million as authorized by s. 440.38(1)(f) may assume by contract the liabilities under this chapter of contractors and subcontractors, or each of them, employed by or on behalf of such individual self-insurer when performing work on or adjacent to property owned or used by the individual self-insurer by the department. The net worth of the individual self-insurer shall include the assets of the self-insurer’s parent company and its subsidiaries, sister companies, affiliated companies, and other related entities, located within the geographic boundaries of the state.