Ariz. Admin. Code § R20-5-1530 - Self-Insurance Pool Workers' Compensation Pool Operations Account; Workers' Compensation Pool Loss Account
A. A
Self-Insurance Pool shall maintain a Workers' Compensation Pool Operations
Account, which is subject to all of the following:
1. All workers' compensation premiums charged
to members of the Self-Insurance Pool shall be deposited into the Workers'
Compensation Pool Operations Account, which account shall be maintained in a
designated federally-insured depository.
2. A Self-Insurance Pool shall pay all
operational expenses of the pool relating to workers' compensation, excluding
administrative expenses associated with processing workers' compensation
claims, from the Workers' Compensation Pool Operations Account.
3. Funds from the Workers' Compensation Pool
Operations Account shall be transferred to the Workers' Compensation Pool Loss
Account, as needed, to enable the Self-Insurance Pool to pay from the Workers'
Compensation Pool Loss Account all liabilities imposed or arising under the Act
and all administrative expenses associated with processing workers'
compensation claims.
4. If the
Workers' Compensation Pool Operations Account is co-mingled with another
account, the activities of the Workers' Compensation Pool Operations Account
are segregated in the financial records.
B. A Self-Insurance Pool shall maintain a
Workers' Compensation Pool Loss Account, which is subject to all of the
following.
1. A Self-Insurance Pool shall
maintain its Workers' Compensation Pool Loss Account in a designated
federally-insured depository.
2. A
Self-Insurance Pool shall pay all workers' compensation claim expenses,
including current and contingent workers' compensation claim liabilities of and
administrative expenses associated with processing workers' compensation
claims, from the Workers' Compensation Pool Loss Account.
3. A Self-Insurance Pool shall ensure that
its Workers' Compensation Pool Loss Account is actuarially sound and able to
process and pay benefits required under the Act.
4. If the Workers' Compensation Pool Loss
Account is co-mingled with another account, the activities of the Workers'
Compensation Pool Loss Account are segregated in the financial
records.
Notes
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