65-08.1 Workforce Safety and Insurance Company
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<![CDATA[CHAPTER 65-08.1WORKFORCE SAFETY AND INSURANCE COMPANY65-08.1-01. Definitions. In this chapter, unless the context otherwise requires:1."Company" means the workforce safety and insurance company or other<br>organization established by the organization to provide additional workforce safety<br>and insurance coverage.2."Employers' liability coverage" means an insurance product that provides coverage<br>for injury-related claims suffered by an employee that are not covered by title 65.3."Extraterritorial workforce safety and insurance coverage" means coverage provided<br>under section 65-08-01.4."Incidental operations" means operations of an employer for fewer than thirty days in<br>a state with which the employer has no other significant contacts.5."Other states insurance" means an insurance product that provides workforce safety<br>and insurance coverage to an employer for that employer's employee while the<br>employee is working at an incidental operation in a state in which the employee is<br>eligible to file for workforce safety and insurance benefits if the employee suffers a<br>work-related illness or injury or dies as a result of work activities in that state.6."Principally localized" means the employer has a place of business in this state, the<br>employee regularly works at or from that place of business, the employment contract<br>is entered in that state, and in case of an employee leasing company, the company<br>retains control over the employee and does not lease the employee to an<br>out-of-state employer.65-08.1-02. Workforce safety and insurance additional coverages. The organizationmay establish a casualty insurance organization, organized as a stock or mutual company, a risk<br>pool, a reciprocal exchange, a risk retention or purchasing group, or a reinsurer with the limited<br>purpose of offering extraterritorial workforce safety and insurance coverage or other states<br>insurance. The casualty insurance organization may be established only upon the director's<br>determination that the organization is needed to provide sufficient workforce safety and insurance<br>coverage for the employees and employers of this state and upon the approval of the budget<br>section of the legislative management.If a stock insurance company is established, thecompany shall meet the stock requirements of section 65-08.1-03.65-08.1-03.Workforcesafetyandinsurancecompanycreated-Stockrequirements.The North Dakota workforce safety and insurance may establish a stockinsurance company to provide extraterritorial workforce safety and insurance, other states<br>insurance, and employer's liability insurance to North Dakota employers insured by the<br>organization. The capital stock and surplus for the company must be paid out of the workforce<br>safety and insurance fund.The company shall have capital stock of at least five hundredthousand dollars and a surplus of at least five hundred thousand dollars. The company may not<br>issue an insurance policy until fifty percent of the required capital stock and all of the required<br>surplus have been paid in, and the residue of capital stock must be paid in within twelve months<br>from the time of filing the articles of incorporation. The organization is the sole stockholder of the<br>company. The company must be incorporated pursuant to the laws of this state and is subject to<br>title 26.1 unless otherwise provided.65-08.1-04. Board of directors - Members. The board of directors of the companyconsists of the director of workforce safety and insurance and four persons appointed by the<br>director.The director is the chairman of the board.The chairman shall appoint asecretary-treasurer for the board. Any member of the board may be removed at any time by the<br>director.Page No. 165-08.1-05.Workforce safety and insurance to be provided. The company shallprovide extraterritorial workforce safety and insurance or other states insurance to an employer<br>who is insured by North Dakota workforce safety and insurance. The company may exclude<br>coverage for a state with which workforce safety and insurance has a reciprocal agreement that<br>recognizes an employer's workforce safety and insurance coverage in the state in which the<br>employer's business is principally localized as being sufficient or for a state whose workforce<br>safety and insurance coverage is provided through an exclusive state fund.65-08.1-06. Rates - Billing. The board shall set the rates to be charged by the companyfor additional workforce safety and insurance coverage. The board may consult with workforce<br>safety and insurance and its actuary in determining the appropriate rates. The company shall<br>incorporate its billings with the billings of the organization to ensure that an employer receives<br>one billing that itemizes the charges for mandatory workforce safety and insurance coverage and<br>for the optional additional workforce safety and insurance.Page No. 2Document Outlinechapter 65-08.1 workforce safety and insurance company]]>