Relating to workers' compensation guaranty contracts.
Catchline/Summary:
Eliminates guaranty contracts as method of providing workers' compensation coverage. Eliminates guaranty contracts as method of providing workers' compensation coverage. Authorizes issuance of workers' compensation insurance policies in place of guaranty contracts. Establishes requirements for policy term based filings related to proof of coverage and termination of coverage by insurers. Allows Director of Department of Consumer and Business Services to adopt rules requiring electronic filing of reports] proof of coverage with Department of Consumer and Business Services.
Becomes operative July 1, 2009.
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SB 559
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