Florida Regulations 69O-190.062

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§ 69O-190.062 Filing Reports - Self-Insurers Funds.

(1) Reports as to payroll records, coverage, accident experience and compensation payment and such periodic reports as are required to be filed with the Office shall be made as follows:

(a) Summary loss data shall be filed with the Office on each fund member within 60 days after the evaluation date of the losses being reported on OIR Form BSI-17. Procedures for reporting losses as specified in subsection 69O-190.050(3), F.A.C., shall apply. (b) Properly classified and audited payrolls on each fund member shall be submitted to the Office on OIR Form BSI-5 within 60 days after the evaluation date of the summary loss information required in paragraph (a) above. The classification and audit procedures specified in subsection 69O-190.050(1), F.A.C., shall apply. (c) Quarterly Status Reports submitted on OIR Form BSI-24 (Revised 3-11-87), which accurately reflect the financial condition of each open fund year shall be filed with the Office within thirty (30) days after the close of each fund year quarter and signed by the chairman of the board of trustees or authorized self-insurers fund administrator. A fund year is considered open as long as one claim from that fund year remains unsettled.

(2) After the inception date of the fund, prospective new members of the self-insurers fund shall submit an application for membership to the board of trustees or its administrator on OIR Form BSI-3 or its equivalent. The trustees or administrator must approve the application for membership in accordance with these rules and the terms of the indemnity agreement for the application to be binding upon the self-insurers fund and the prospective member. A copy of the application for membership shall be filed with the Office along with a properly completed OIR Form BSI-206 within twenty-one (21) days after the effective date of membership.

(3) It shall be the responsibility of each self-insurers fund member to notify the fund to which it belongs or its service company of any changes in the names, addresses, structure and composition of all businesses or subsidiaries which participate in the self-insurers fund. It shall also be the responsibility of the fund member to notify the fund or service company of any additions or deletions in the business or subsidiaries participating in the fund. These changes include changes in majority ownership interest in any business or subsidiary that is covered or that will be covered by the fund. All such changes shall be reported to the fund or its service company within 30 days after the effective date of the change. Each self-insurers fund or service company shall notify the Office, by written endorsement, of any such changes reported to it by its members within 30 days after it has first knowledge of the change. Repeated failure to file the required endorsements within the time prescribed shall result in civil penalties being assessed pursuant to Rule 69O-190.038, F.A.C. If the Office determines the self-insurers fund members made the late reporting, then the penalty shall be assessed against the member; otherwise, the penalty shall be assessed against the self-insurers fund.

Specific Authority 440.38(2)(b), (3) FS. Law Implemented 440.38(1)(b), (2)(b), 440.51, 624.4621 FS. History-New 10-1-82, Amended 12-25-84, Formerly 38F-5.62, Amended 3-11-87, 2-3-88, 12-19-93, Formerly 38F-5.062, 4-190.062.