Wash. Admin. Code § 296-15-227 - Self-insurance insolvency trust fund assessment
(1) The insolvency trust fund assessment is
paid by all insolvency trust members to cover claim payments made by the
department on behalf of insolvent self-insurers. The assessment is paid
quarterly at the same time a self-insurer submits its quarterly report.
(a) Self-insured school districts, cities,
and counties are exempt from and are not covered by this insolvency trust.
These self-insurers are not liable for the insolvency trust fund
assessment.
(b) Any interest earned
on insolvency trust fund assessments paid by self-insurers will be added to the
balance of the insolvency trust fund.
(c) Failure to pay an insolvency trust fund
assessment is grounds for withdrawal of self-insurance certification.
(2) The insolvency trust fund
assessment rate is determined annually for each fiscal year.
(3) Insolvency trust members who voluntarily
surrender their self-insurance certification must continue to pay this
assessment for three years after the date of surrender.
(4) The total insolvency trust fund
assessment due each quarter is calculated by multiplying the insolvency trust
fund assessment rate by an insolvency trust member's total claims costs during
that quarter.
Notes
Statutory Authority: RCW 51.14.077, 51.14.150, 51.14.160, 51.44.040, 51.44.070, and 51.44.150. 09-13-018, § 296-15-227, filed 6/5/09, effective 7/6/09.
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