Ohio Admin. Code 4123-20-02 - [Effective until 7/1/2025] Subscription to the marine industry fund
(A) An employer whose application for
subscription to the marine industry fund has been approved by the administrator
of workers' compensation as provided in rule
4123-20-01 of the Administrative
Code shall be issued a marine industry fund insurance policy upon payment of
the initial premium required for such policy.
(B) Coverage under a marine industry fund
insurance policy shall not be effective until the initial
prepaid premium is received by the bureau of
workers' compensation. All policies of insurance
issued by the marine industry fund shall be for a term of one year from the
date of issue, provided, however, that a policy may be issued for a term of
less than one year if it is established that the applicant has need of marine
industry fund coverage only for the duration of a specific contract or
operation.
(C) Any policy
of insurance issued by the marine industry fund shall expire at midnight on the
expiration date stated on the face of such policy. Beginning July 1, 2012, that date shall be either the last
day of February or August thirty-first. Any such policy may be renewed by
payment of the renewal premium. Payment of a renewal premium
within sixty days after
prior to the stated expiration date shall be
effective to continue the coverage of the insured without lapse.
(D) Payment of a renewal premium
received more than sixty days after the
expiration date shall be ineffective to continue the coverage of the insured
employer without lapse. If an insured employer tenders payment of a renewal
premium more than sixty days after the
stated expiration date, the administrator may, in the administrator's
discretion, reinstate the coverage of such employer as of the date of receipt
of payment or require the employer to submit a new application for subscription
to the marine industry fund. In no event shall retroactive coverage be granted
with respect to any period when the coverage of an insured employer has lapsed.
Notes
Promulgated Under: 119.03
Statutory Authority: 4121.12, 4121.121
Rule Amplifies: 4131.13, 4131.14
Prior Effective Dates: 03/23/1981, 12/18/1989 (Emer.), 02/22/1990, 07/05/2012
Promulgated Under: 119.03
Statutory Authority: 4121.12, 4121.121
Rule Amplifies: 4131.13, 4131.14
Prior Effective Dates: 3/23/81, 12/18/89 (Emer.), 2/22/90, 7/5/12
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(A) An employer whose application for subscription to the marine industry fund has been approved by the administrator of workers' compensation as provided in rule 4123-20-01 of the Administrative Code shall be issued a marine industry fund insurance policy upon payment of the initial premium required for such policy.
(B) Coverage under a marine industry fund insurance policy shall not be effective until the initial prepaid premium is received by the bureau of workers' compensation. All policies of insurance issued by the marine industry fund shall be for a term of one year from the date of issue, provided, however, that a policy may be issued for a term of less than one year if it is established that the applicant has need of marine industry fund coverage only for the duration of a specific contract or operation.
(C) Any policy of insurance issued by the marine industry fund shall expire at midnight on the expiration date stated on the face of such policy. Beginning July 1, 2012, that date shall be either the last day of February or August thirty-first. Any such policy may be renewed by payment of the renewal premium. Payment of a renewal premium within sixty days after prior to the stated expiration date shall be effective to continue the coverage of the insured without lapse.
(D) Payment of a renewal premium received more than sixty days after the expiration date shall be ineffective to continue the coverage of the insured employer without lapse. If an insured employer tenders payment of a renewal premium more than sixty days after the stated expiration date, the administrator may, in the administrator's discretion, reinstate the coverage of such employer as of the date of receipt of payment or require the employer to submit a new application for subscription to the marine industry fund. In no event shall retroactive coverage be granted with respect to any period when the coverage of an insured employer has lapsed.
Notes
Promulgated Under: 119.03
Statutory Authority: 4121.12, 4121.121
Rule Amplifies: 4131.13, 4131.14
Prior Effective Dates: 03/23/1981, 12/18/1989 (Emer.), 02/22/1990, 07/05/2012
Promulgated Under: 119.03
Statutory Authority: 4121.12, 4121.121
Rule Amplifies: 4131.13, 4131.14
Prior Effective Dates: 3/23/81, 12/18/89 (Emer.), 2/22/90, 7/5/12