44-585.Same; premiums; contributions; deposit ofpremiums; refunds.(a) Premium contributions to the pool shall be based upon appropriate manualclassification and rates, plus or minus applicable experience credits ordebits, and minus any advance discount approved by the trustees, not to exceed15% of manual premium. The pool must use rules, classifications and rates aspromulgated by an approved rating organization and must report premium and lossdata to a rating organization. Such rates shall be the prospective loss costs,asauthorized in K.S.A. 40-955, and amendments thereto, plus expensesnecessary to administer the pool. For purposes of subsection (b) theprospective loss costs shall be presumed to be the 70% required to be depositedin the claims fund. If the pool has been in operation for more than five years,the board of trustees may determine such rates as approved by the commissioner.
(b) At least 70% of the annual premium shall be placed into a designateddepository for the sole purpose of paying claims. If so approved by thecommissioner of insurance, the annual premium to be designated to suchdepository may be determined to be the net amount of premium after all or aportion of the specific and aggregate excess insurance premium costs have beenpaid. This shall be called the claims fund account. The remaining annualpremium shall be placed into a designated depository for the payment of taxes,fees and administrative costs. This shall be called the administrative fundaccount. If a pool has been in operation for more than five years, thecommissioner may authorize allocation of a different amount to the claims fundaccount, if solvency of the pool would not be endangered.
(c) At the end of a fund year or any time thereafter,the trustees may declare a refund of any surplus moneys for the fund year inexcess of the amount necessary to fulfill all obligations under the workerscompensation act for that fund year. Such refund shall not be distributed, inwhole or in part, less than 12 months after the end of the fund year for whichthe refund was declared. After receipt from the pool of the notice of declaredrefund and satisfactory evidence that sufficient funds remain on deposit forthe payment of all outstanding claims and expenses, including incurred but notreported claims, the commissioner shall approve distribution of the declaredrefund. Any such refund shall be paidonly to those employers who remained participants in the pool for an entireyear. Payment of previously earned refunds shall not be contingent on continuedmembership in the pool.
44-585.Same; premiums; contributions; deposit ofpremiums; refunds.(a) Premium contributions to the pool shall be based upon appropriate manualclassification and rates, plus or minus applicable experience credits ordebits, and minus any advance discount approved by the trustees, not to exceed15% of manual premium. The pool must use rules, classifications and rates aspromulgated by an approved rating organization and must report premium and lossdata to a rating organization. Such rates shall be the prospective loss costs,asauthorized in K.S.A. 40-955, and amendments thereto, plus expensesnecessary to administer the pool. For purposes of subsection (b) theprospective loss costs shall be presumed to be the 70% required to be depositedin the claims fund. If the pool has been in operation for more than five years,the board of trustees may determine such rates as approved by the commissioner.
(b) At least 70% of the annual premium shall be placed into a designateddepository for the sole purpose of paying claims. If so approved by thecommissioner of insurance, the annual premium to be designated to suchdepository may be determined to be the net amount of premium after all or aportion of the specific and aggregate excess insurance premium costs have beenpaid. This shall be called the claims fund account. The remaining annualpremium shall be placed into a designated depository for the payment of taxes,fees and administrative costs. This shall be called the administrative fundaccount. If a pool has been in operation for more than five years, thecommissioner may authorize allocation of a different amount to the claims fundaccount, if solvency of the pool would not be endangered.
(c) At the end of a fund year or any time thereafter,the trustees may declare a refund of any surplus moneys for the fund year inexcess of the amount necessary to fulfill all obligations under the workerscompensation act for that fund year. Such refund shall not be distributed, inwhole or in part, less than 12 months after the end of the fund year for whichthe refund was declared. After receipt from the pool of the notice of declaredrefund and satisfactory evidence that sufficient funds remain on deposit forthe payment of all outstanding claims and expenses, including incurred but notreported claims, the commissioner shall approve distribution of the declaredrefund. Any such refund shall be paidonly to those employers who remained participants in the pool for an entireyear. Payment of previously earned refunds shall not be contingent on continuedmembership in the pool.
44-585.Same; premiums; contributions; deposit ofpremiums; refunds.(a) Premium contributions to the pool shall be based upon appropriate manualclassification and rates, plus or minus applicable experience credits ordebits, and minus any advance discount approved by the trustees, not to exceed15% of manual premium. The pool must use rules, classifications and rates aspromulgated by an approved rating organization and must report premium and lossdata to a rating organization. Such rates shall be the prospective loss costs,asauthorized in K.S.A. 40-955, and amendments thereto, plus expensesnecessary to administer the pool. For purposes of subsection (b) theprospective loss costs shall be presumed to be the 70% required to be depositedin the claims fund. If the pool has been in operation for more than five years,the board of trustees may determine such rates as approved by the commissioner.
(b) At least 70% of the annual premium shall be placed into a designateddepository for the sole purpose of paying claims. If so approved by thecommissioner of insurance, the annual premium to be designated to suchdepository may be determined to be the net amount of premium after all or aportion of the specific and aggregate excess insurance premium costs have beenpaid. This shall be called the claims fund account. The remaining annualpremium shall be placed into a designated depository for the payment of taxes,fees and administrative costs. This shall be called the administrative fundaccount. If a pool has been in operation for more than five years, thecommissioner may authorize allocation of a different amount to the claims fundaccount, if solvency of the pool would not be endangered.
(c) At the end of a fund year or any time thereafter,the trustees may declare a refund of any surplus moneys for the fund year inexcess of the amount necessary to fulfill all obligations under the workerscompensation act for that fund year. Such refund shall not be distributed, inwhole or in part, less than 12 months after the end of the fund year for whichthe refund was declared. After receipt from the pool of the notice of declaredrefund and satisfactory evidence that sufficient funds remain on deposit forthe payment of all outstanding claims and expenses, including incurred but notreported claims, the commissioner shall approve distribution of the declaredrefund. Any such refund shall be paidonly to those employers who remained participants in the pool for an entireyear. Payment of previously earned refunds shall not be contingent on continuedmembership in the pool.
