Kentucky Statutes 342.813 – Manager — Qualifications — Powers and duties — Bond
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(1) Following a nationwide search, the board shall hire a manager, subject to Senate confirmation in accordance with KRS § 11.160 who shall serve at the pleasure of the board. The manager shall be compensated at a level determined by the board.
(2) The manager shall have proven successful experience for a period of at least five (5) years as an executive at the general management level in insurance operations or in the management of a state fund for workers’ compensation.
(3) The manager shall conduct the day-to-day operations of the authority for the purpose of carrying out the policies and procedures of the board. The duties of the manager include, but are not limited to:
(a) Administering all operations of the authority in accordance with the direction of the board;
(b) Recommending to the board an annual administrative budget covering the operations of the authority and, upon approval, submitting the administrative budget, financial status, and actuarial condition of the authority to the Governor and the General Assembly for their examination;
(c) Directing and controlling all expenditures of the approved budget;
(d) From time to time, upon the recommendation of an actuary, recommending to the board actuarially-sound rating plans, and the amount of dividends, if any, to be returned to policyholders;
(e) Investing the assets of the authority under the guidance of the board and in accordance with the provisions of Subtitle 7 of KRS Chapter 304;
(f) Recommending to the board and administering a system of personnel administration;
(g) Preparing and administering fiscal, payroll, accounting, data processing, and procurement procedures for the operation of the authority;
(h) Recommending to the board bylaws and uniform procedures for the management of the authority;
(i) Within the limitations of the budget, employing necessary staff personnel in accordance with the personnel policies of the board;
(j) Maintaining appropriate levels of property, casualty, and liability insurance as approved by the board to protect directors, officers, employees, and assets of the authority; and
(k) Contracting in accordance with KRS § 342.811 for claims administration, safety services, legal defense, actuaries, medical providers, financial services, and other services which the manager elects to obtain outside employed staff.
(4) The manager may:
(a) Reinsure any risk or part of any risk;
(b) Cause to be inspected and audited the payrolls of policyholders or employers applying to the authority for insurance;
(c) Establish procedures for adjusting claims in accordance with this chapter; and
(d) Require policyholders to maintain an adequate deposit to provide security for periods of coverage for which premiums have not been paid.
(5) The manager shall give an official bond in an amount and with sureties approved by the board. The premium for the bond shall be paid by the authority.
(6) The provisions of KRS Chapters 18A and 64 shall not apply to the board, the manager, or the staff of the authority; however, the board shall adopt a system of personnel administration that includes benefits, grievance procedures, training and compensation.
Effective: July 15, 1998
History: Amended 1998 Ky. Acts ch. 361, sec. 5, effective July 15, 1998. — Created
1994 Ky. Acts ch. 181, Part 12, sec. 45, effective April 4, 1994.
(2) The manager shall have proven successful experience for a period of at least five (5) years as an executive at the general management level in insurance operations or in the management of a state fund for workers’ compensation.
Terms Used In Kentucky Statutes 342.813
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Workers' Compensation Board. See Kentucky Statutes 342.0011
- Compensation: means all payments made under the provisions of this chapter representing the sum of income benefits and medical and related benefits. See Kentucky Statutes 342.0011
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- premium: includes the initial consideration plus any reimbursements invoiced for losses, expenses, or fees charged under the deductibles. See Kentucky Statutes 342.0011
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) The manager shall conduct the day-to-day operations of the authority for the purpose of carrying out the policies and procedures of the board. The duties of the manager include, but are not limited to:
(a) Administering all operations of the authority in accordance with the direction of the board;
(b) Recommending to the board an annual administrative budget covering the operations of the authority and, upon approval, submitting the administrative budget, financial status, and actuarial condition of the authority to the Governor and the General Assembly for their examination;
(c) Directing and controlling all expenditures of the approved budget;
(d) From time to time, upon the recommendation of an actuary, recommending to the board actuarially-sound rating plans, and the amount of dividends, if any, to be returned to policyholders;
(e) Investing the assets of the authority under the guidance of the board and in accordance with the provisions of Subtitle 7 of KRS Chapter 304;
(f) Recommending to the board and administering a system of personnel administration;
(g) Preparing and administering fiscal, payroll, accounting, data processing, and procurement procedures for the operation of the authority;
(h) Recommending to the board bylaws and uniform procedures for the management of the authority;
(i) Within the limitations of the budget, employing necessary staff personnel in accordance with the personnel policies of the board;
(j) Maintaining appropriate levels of property, casualty, and liability insurance as approved by the board to protect directors, officers, employees, and assets of the authority; and
(k) Contracting in accordance with KRS § 342.811 for claims administration, safety services, legal defense, actuaries, medical providers, financial services, and other services which the manager elects to obtain outside employed staff.
(4) The manager may:
(a) Reinsure any risk or part of any risk;
(b) Cause to be inspected and audited the payrolls of policyholders or employers applying to the authority for insurance;
(c) Establish procedures for adjusting claims in accordance with this chapter; and
(d) Require policyholders to maintain an adequate deposit to provide security for periods of coverage for which premiums have not been paid.
(5) The manager shall give an official bond in an amount and with sureties approved by the board. The premium for the bond shall be paid by the authority.
(6) The provisions of KRS Chapters 18A and 64 shall not apply to the board, the manager, or the staff of the authority; however, the board shall adopt a system of personnel administration that includes benefits, grievance procedures, training and compensation.
Effective: July 15, 1998
History: Amended 1998 Ky. Acts ch. 361, sec. 5, effective July 15, 1998. — Created
1994 Ky. Acts ch. 181, Part 12, sec. 45, effective April 4, 1994.