Missouri Laws 374.790 – Workers’ compensation, residual market, department to submit report to ..
The department of commerce and insurance shall prepare and submit a plan to the general assembly by September 1, 1993, to reduce the number of employers insured through the residual market. The department shall specifically examine and address in its plan the following topics:
(1) The use of an employer’s experience modification factor and the appropriate level thereof as an objective criterion in determining eligibility for coverage;
Terms Used In Missouri Laws 374.790
- Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
- Department: the department of commerce and insurance. See Missouri Laws 374.005
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
(2) The maximum amount of such coverage an insurer would be required to issue, expressed as a percentage of its voluntary business;
(3) Providing a system of incentives to insurers to voluntarily cover employers which had been insured through the residual market by reducing the amount of coverage required to be provided by such insurer under the plan;
(4) The effect of the implementation of such plan on the competitive voluntary insurance workers’ compensation market in Missouri in terms of the number of insurers actively competing, the availability of coverage by classification and pricing by classification;
(5) Permitting insurers to file separate rates by classification for employers which they may be required to insure under such plan;
(6) Requiring that only agents which have been appointed by such insurer may submit applications for coverage under such plan;
(7) The results of this plan in other jurisdictions where it has been implemented in either workers’ compensation or other lines of insurance;
(8) Requiring nonexperienced rated employers or employers not eligible for experience rating, as a condition to receive coverage, to utilize the insurer’s managed care medical program and to comply with the insurer’s loss control or safety engineering program.
—
–
Upon receipt of the plan, the general assembly shall, by concurrent resolution disapprove such plan by September 24, 1993. If the plan is not disapproved it shall be implemented by rule on January 1, 1994. If the plan is not submitted to the general assembly under the provisions of this section, it shall not be implemented by rule.