§ 28-47-9 - Audit of group self-insurance.
SECTION 28-47-9
§ 28-47-9 Audit of group self-insurance.– The director annually, as soon as practicable after April first in eachsucceeding year, shall ascertain the total amount of expenses, including inaddition to the direct costs of personal services, the cost of maintenance andoperation, the cost of retirement contributions made and workers' compensationpremiums paid by the state for or on account of personnel, rentals for spaceoccupied in state owned or state leased buildings, and all other direct orindirect costs incurred by the department of business regulation during thepreceding calendar year in carrying out the provisions of this chapter. Thoseexpenses shall be assessed against all group self-insurers including for thispurpose employers who have ceased to exercise the privilege of groupself-insurance but have filed a surety bond, trust fund, or other security. Thebasis of apportionment of the assessment against each group shall be thatproportion of those expenses, excluding any expenses associated with adisbanded group, that the written premium or equivalent premium of each groupself-insurer at the close of the preceding calendar year bears to the totalpremium for all group self-insurers. The department may assess any disbandedgroup based upon the actual expenses incurred by the department for such groupin the preceding fiscal year. For the purpose of this assessment, a "disbandedgroup" means a group in run-off. All those assessments when collected shall bepaid to and for the use of the insurance division of the department of businessregulation.