§ 28-37-14. Computation of gross premiums.
(a) Gross premiums shall include all premiums, premium deposits, and assessments on all
policies, certificates, and renewals written during the preceding calendar year, covering
workers' compensation risks within the state or subject to the jurisdiction of this
state, and on all policies subsequently canceled and reinsurance assumed, whether
those premiums, premium deposits, and assessments are in the form of money, notes,
credits, or other substitutes for money, after deducting from these gross premiums
the amount of return premiums on those contracts covering workers' compensation risks
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§ 28-37-14. Computation of gross premiums.
(a) Gross premiums shall include all premiums, premium deposits, and assessments on all
policies, certificates, and renewals written during the preceding calendar year, covering
workers' compensation risks within the state or subject to the jurisdiction of this
state, and on all policies subsequently canceled and reinsurance assumed, whether
those premiums, premium deposits, and assessments are in the form of money, notes,
credits, or other substitutes for money, after deducting from these gross premiums
the amount of return premiums on those contracts covering workers' compensation risks
within this state or subject to the jurisdiction of this state and the amount of premiums
for reinsurance assumed of those risks. Mutual companies and companies that transact
business on the mutual plan shall also be allowed to deduct from premiums, premium
deposits, and assessments, the so-called dividends or unused or unabsorbed portion
of the premiums, premium deposits, and assessments applied in part payment of premiums,
premium deposits, and assessments or returned to policyholders in cash or credited
to policyholders during the preceding calendar year.
(b) Except as specifically set forth in § 28-33-4, in the case of a policy that contains deductible claim payment provisions either
on the basis of per claim and/or claims in the aggregate, the gross premium shall
be based on the premium the employer would have had to pay to obtain the policy without
such deductible provisions and without the application of any deductible premium credit.
(c) Gross premiums shall be reported annually to the department of business regulation
and to the director of labor and training pursuant to the provisions of this chapter.
(d) Regulation and enforcement of subsections (b) and (c) of this section shall be vested
in the director of labor and training. The director of labor and training is empowered
to bring an action in any court of competent jurisdiction to give effect to the provisions
of subsections (a) — (c) of this section.