Section 79A.09 — Security Fund.
79A.09 SECURITY FUND. Subdivision 1. Creation. The self-insurers’ security fund is established as a nonprofit corporation pursuant to the Minnesota Nonprofit Corporation Act, sections 317A.001 to 317A.909. If any provision of the Minnesota Nonprofit Corporation Act conflicts with any provision of this chapter, the provisions of this chapter apply. Each private self-insurer who is self-insured […]
Section 79A.10 — Assumption Of Workers’ Compensation Obligations Of Insolvent Self-insurer.
79A.10 ASSUMPTION OF WORKERS’ COMPENSATION OBLIGATIONS OF INSOLVENT SELF-INSURER. Subdivision 1. Order of commissioner. Upon order of the commissioner pursuant to section 79A.04, subdivision 10, the security fund shall assume the workers’ compensation obligations of an insolvent private self-insurer. Subd. 2. Act or omissions; penalties. Notwithstanding subdivision 1, the security fund shall not be liable […]
Section 79A.01 — Definitions.
79A.01 DEFINITIONS. Subdivision 1. Scope. For the purposes of this chapter, the terms defined in this section have the meanings given them. Subd. 2. Commissioner. “Commissioner” means the commissioner of commerce except where specifically stated otherwise. Subd. 3. Incurred liabilities for the payment of compensation. “Incurred liabilities for the payment of compensation” means the sum […]
Section 79.53 — Premium Calculation.
79.53 PREMIUM CALCULATION. Subdivision 1. Method of calculation. Each insurer shall establish premiums to be paid by an employer according to its filed rates and rating plan as follows: Rates shall be applied to an exposure base to yield a base premium which may be further modified by merit rating, premium discounts, and other appropriate […]
Section 79.531 — Negligently Paid Claims.
79.531 NEGLIGENTLY PAID CLAIMS. An insurer who has negligently paid benefits under chapter 176 may not charge the payment to the employer’s experience rating. History: 1986 c 461 s 1
Section 79.55 — Standards For Rates.
79.55 STANDARDS FOR RATES. Subdivision 1. General standards. Premiums shall not be excessive, inadequate, or unfairly discriminatory. Subd. 2. Excessiveness. Rates and rating plans are excessive if the expected underwriting profit, together with expected income from invested reserves, that would accrue to an insurer under the rates and rating plans would be unreasonably high in […]
Section 79.56 — Filing Rates And Rating Information.
79.56 FILING RATES AND RATING INFORMATION. Subdivision 1. Prefiling of rates. (a) Each insurer shall file with the commissioner a complete copy of its rates and rating plan, and all changes and amendments thereto, and such supporting data and information that the commissioner may by rule require, at least 60 days prior to its effective […]
Section 79.561 — Disapproval Of Rates Or Rating Plans.
79.561 DISAPPROVAL OF RATES OR RATING PLANS. Subdivision 1. Disapproval; time period. The commissioner may disapprove a rate and rating plan or amendment thereto prior to its effective date, as provided under section 79.56, subdivision 1, if the commissioner determines that it is excessive, inadequate, or unfairly discriminatory. If the commissioner disapproves any rate or […]
Section 79.59 — Insurers And Data Service Organizations; Prohibited Activities.
79.59 INSURERS AND DATA SERVICE ORGANIZATIONS; PROHIBITED ACTIVITIES. Subdivision 1. Monopolization. No insurer or data service organization shall attempt to monopolize or combine or conspire with any other person to monopolize the business of insurance. Subd. 2. Agreement prohibited. No insurer shall agree with any other insurer or with a data service organization to adhere […]
Section 79.60 — Insurers; Required And Permitted Activity.
79.60 INSURERS; REQUIRED AND PERMITTED ACTIVITY. Subdivision 1. Required activity. Each insurer shall perform the following activities: (1) maintain membership in and report loss experience data to a licensed data service organization in accordance with the statistical plan and rules of the organization as approved by the commissioner; (2) establish a plan for merit rating […]