Michigan Laws 500.2303 – Definitions
Current as of: 2024 | Check for updates
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As used in this chapter:
(a) “Facility” means the Michigan worker’s compensation placement facility created under this chapter.
Terms Used In Michigan Laws 500.2303
- Facility: means the Michigan worker's compensation placement facility created under this chapter. See Michigan Laws 500.2303
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- Participating member: means an insurer who is a member of the facility and who in any given calendar year has a participation ratio greater than zero in the facility for that year. See Michigan Laws 500.2303
- Participation ratio: means the ratio of the participating member's voluntary Michigan worker's compensation premiums to the comparable statewide totals of all participating members. See Michigan Laws 500.2303
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) “Participating member” means an insurer who is a member of the facility and who in any given calendar year has a participation ratio greater than zero in the facility for that year.
(c) “Participation ratio” means the ratio of the participating member‘s voluntary Michigan worker’s compensation premiums to the comparable statewide totals of all participating members.
(d) “Worker’s compensation insurance” means insurance which provides any of the following:
(i) Security required pursuant to the worker’s disability compensation act of 1969, Act No. 317 of the Public Acts of 1969, as amended, being section 418.101 to 418.941 of the Michigan Compiled Laws.
(ii) Security required pursuant to the United States longshoreman’s and harbor worker’s compensation act.
(iii) Coverage customarily known as employer’s liability insurance, when contained in or endorsed to a policy providing the security in subparagraph (i) or (ii).