Ohio Admin. Code 4123-20-02 - [Effective 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 will 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 is not be effective until the initial prepaid premium is received by the bureau of workers' compensation.

(C) Any policy of insurance issued by the marine industry fund shall expire expires 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 prior to the stated expiration date shall be is effective to continue the coverage of the insured without lapse.

(D) Payment of a renewal premium after the expiration date shall be is ineffective to continue the coverage of the insured employer without lapse. If an insured employer tenders payment of a renewal premium 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 will retroactive coverage be granted with respect to any period when the coverage of an insured employer has lapsed.

(E) An employer may cancel its marine industry fund policy by notifying the bureau in writing, including by email or fax. The cancellation request must provide the cancellation effective date. BWC will send correspondence instructing the employer to report actual payroll through the last date it had employees perform maritime work and pay any premium that is owed within forty-five days of the cancellation.

(1) If the employer fails to report the actual payroll within forty-five days of cancellation, BWC will increase the employer's estimated annual premium (EAP) by ten per cent and bill the employer. Failure to pay any premium owed will result in certification to the attorney general.

(2) If the employer's prepaid premium is greater than the premium owed through the cancellation effective date based on actual payroll, the balance will be refunded to the employer.

Notes

Ohio Admin. Code 4123-20-02

Effective: 7/1/2025
Five Year Review (FYR) Dates: 8/1/2027
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