§ Title 34 Appx. r. 622-1-.03 (2) - (2). Payment of assessments to fund by insurers and self-insurers - Georgia Statutes

O.C.G.A. Title 34 Appx. r. 622-1-.03 (2) (2010)
THIS SECTION HAS MORE THAN ONE DOCUMENT WITH VARYING EFFECTIVE DATES.

622-1-.03 (2). Payment of assessments to fund by insurers and self-insurers

Each insurer and self-insurer shall make payments to the fund in an amount equal to that proportion of 175 percent of the total disbursement made from the fund during the preceding calendar year less the amount of the net assets in the fund as of December 31 of the preceding calendar year which the total workers' compensation claims paid by the insurer or self-insurer bears to the total workers' compensation claims paid by all insurers and self-insurers during the preceding calendar year. The administrator is authorized to reduce or suspend assessments for the fund when a completed actuarial survey shows further assessments are not needed. Adjustments relative to any prior years' assessment will be added to or credited against each insurer's or self-insurer's most recent calendar year's assessment when total claims losses reported to the fund necessitated revising the prior years' assessment rate. An employer who has ceased to be a self-insurer prior to the end of the calendar year shall be liable to the fund for the assessment of the calendar year and/or the adjusted assessment, if any, of the previous calendar years.

Authority O.C.G.A. Sec. 34-9-354(d). Added: effective Dec. 9, 1998.
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