This article shall be known and may be cited as the “Workers’ Compensation Cost Containment Act”. Source: L. 89: Entire article added, p. 376, § 1, effective July 1. L. 90: Entire section amended, p. 556, § 4, effective July 1.
The general assembly hereby finds and declares that any adjustments to premiums for workers’ compensation insurance be granted on the basis of equity, rate adequacy, fairness, and insurer compliance with Colorado insurance rating laws. The general assembly further finds and declares that notwithstanding the granting of different rates to insureds for their experience modification, participation […]
As used in this article, unless the context otherwise requires: “Approved program” means a cost containment or risk management program approved by the board. “Board” means the workers’ compensation cost containment board established pursuant to section 8-14.5-104. “Certified program” means a cost containment or risk management program which has been implemented for a period of […]
There is hereby created in the division the workers’ compensation cost containment board, to be composed of seven members: The commissioner of insurance, the chief executive officer of Pinnacol Assurance, and five members appointed by the governor and confirmed by the senate. Appointed members of the board shall be chosen among the following: Employers or […]
The board shall have the following powers and duties: To establish model cost containment and risk management programs for selected classifications in the upper ten percent of the insurance rate schedule under the Colorado workers’ compensation insurance program; To adopt standards for the approval of particular cost containment and risk management programs submitted by community, […]
The director shall have the following powers and duties: To provide technical advice to the board; To provide technical advice and assistance to community, technical, or local district colleges, employers, groups of employers, or trade associations with respect to the development and implementation of cost containment and risk management programs; To publish, as may be […]
Any employer complying with an approved program for at least one year may present evidence of such compliance to the board and petition the board to certify its program. The names of such certified employers shall be made available on a periodic basis to bona fide insurance carriers on file with the division. Source: L. […]
The commissioner shall undertake a full study of current workplace safety, risk management, and cost containment programs offered by insurers, including Pinnacol Assurance, a review and analysis of the various incentives used by insurers to obtain policyholder participation, including any premium adjustment programs in use, and shall evaluate other possible programs and incentives that could […]
All moneys collected for cost containment pursuant to section 8-14.5-109 or 8-44-112 (1)(b)(III) shall be transmitted to the state treasurer who shall credit the same to the cost containment fund, which fund is hereby created. All moneys credited to said fund and all interest earned thereon shall be subject to appropriation by the general assembly […]
The division may receive grants-in-aid from any agency of the United States and may cooperate and enter into agreements with any agency of the United States, any agency of any other state, and any other agency of this state or its political subdivisions, for the purpose of carrying out the provisions of this article. Source: […]
