§ 28-47-9 — § 28-47-9. Audit of group self-insurance.

§ 28-47-9. Audit of group self-insurance.

The director annually, as soon as practicable after April 1 in each succeeding year, shall ascertain the total amount of expenses, including in addition to the direct costs of personal services, the cost of maintenance and operation; the cost of retirement contributions made and workers' compensation premiums paid by the state for or on account of personnel; rentals for space occupied in state-owned or state-leased buildings; and all other direct or indirect costs incurred by the department of business regulation during the preceding calendar year in carrying out the provisions of this chapter. Those expenses shall be assessed against all group self-insurers including for this purpose employers who or that have ceased to exercise the privilege of group self-insurance but have filed a surety bond, trust fund, or other security. The basis of apportionment of the assessment against each group shall be that proportion of those expenses, excluding any expenses associated with a disbanded group, that the written premium or equivalent premium of each group self-insurer at the close of the preceding calendar year bears to the total premium for all group self-insurers. The department may assess any disbanded group based upon the actual expenses incurred by the department for such group in the preceding fiscal year. For the purpose of this assessment, a "disbanded group� means a group in run-off. All those assessments when collected shall be paid to and for the use of the insurance division of the department of business regulation.

Legislative History

P.L. 1982, ch. 32, art. 3, § 1; P.L. 1992, ch. 133, art. 83, § 1; P.L. 1993, ch. 234, § 1; P.L. 1993, ch. 299, § 1; P.L. 1999, ch. 53, § 1.