Connecticut § 38a-1016 Premium payment plan required. Loss reserves. Bad debt reserves.

Connecticut Statutes

§ 38a-1016 — Premium payment plan required. Loss reserves. Bad debt reserves.

Connecticut § 38a-1016

Title 38aInsurance

Ch. 706Private Employer Workers' Compensation Group Self-Insurance

This text of Connecticut § 38a-1016 (Premium payment plan required. Loss reserves. Bad debt reserves.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 38a-1016 (2026).

Text

(a)Each group shall establish to the satisfaction of the commissioner a premium payment plan which shall include:

(1)An initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year; and (2) payment of the balance of each member's annual premium in monthly or quarterly installments.

(b)Each group shall establish and maintain actuarially appropriate loss reserves which shall include reserves for:

(1)Known claims and any associated expenses; and (2) Claims incurred but not reported and any associated expenses.

(c)Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups or such other data as the commissioner may determine.

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(a) Each group shall establish to the satisfaction of the commissioner a premium payment plan which shall include: (1) An initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year; and (2) payment of the balance of each member's annual premium in monthly or quarterly installments. (b) Each group shall establish and maintain actuarially appropriate loss reserves which shall include reserves for: (1) Known claims and any associated expenses; and (2) Claims incurred but not reported and any associated expenses. (c) Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups or such other data as the commissioner may determine.