342.813 Manager -- Qualifications -- Powers and duties -- Bond.
494 words·~2 min read·
/ky/chapter-342/342-813A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Following a nationwide search, the board shall hire a manager, subject to Senate
confirmation in accordance with KRS 11.160 who shall serve at the pleasure of the
board. The manager shall be compensated at a level determined by the board.
(2)The manager shall have proven successful experience for a period of at least five
years as an executive at the general management level in insurance operations or in
the management of a state fund for workers' compensation.
(3)The manager shall conduct the day-to-day operations of the authority for the
purpose of carrying out the policies and procedures of the board. The duties of the
manager include, but are not limited to:
(a)Administering all operations of the authority in accordance with the direction
of the board;
(b)Recommending to the board an annual administrative budget covering the
operations of the authority and, upon approval, submitting the administrative
budget, financial status, and actuarial condition of the authority to the
Governor and the General Assembly for their examination;
(c)Directing and controlling all expenditures of the approved budget;
(d)From time to time, upon the recommendation of an actuary, recommending to
the board actuarially-sound rating plans, and the amount of dividends, if any,
to be returned to policyholders;
(e)Investing the assets of the authority under the guidance of the board and in
accordance with the provisions of Subtitle 7 of KRS Chapter 304;
(f)Recommending to the board and administering a system of personnel
administration;
(g)Preparing and administering fiscal, payroll, accounting, data processing, and
procurement procedures for the operation of the authority;
(h)Recommending to the board bylaws and uniform procedures for the
management of the authority;
(i)Within the limitations of the budget, employing necessary staff personnel in
accordance with the personnel policies of the board;
(j)Maintaining appropriate levels of property, casualty, and liability insurance as
approved by the board to protect directors, officers, employees, and assets of
the authority; and
(k)Contracting in accordance with KRS 342.811 for claims administration, safety
services, legal defense, actuaries, medical providers, financial services, and
other services which the manager elects to obtain outside employed staff.
(4)The manager may:
(a)Reinsure any risk or part of any risk;
(b)Cause to be inspected and audited the payrolls of policyholders or employers
applying to the authority for insurance;
(c)Establish procedures for adjusting claims in accordance with this chapter; and
(d)Require policyholders to maintain an adequate deposit to provide security for
periods of coverage for which premiums have not been paid.
(5)The manager shall give an official bond in an amount and with sureties approved by
the board. The premium for the bond shall be paid by the authority.
(6)The provisions of KRS Chapters 18A and 64 shall not apply to the board, the
manager, or the staff of the authority; however, the board shall adopt a system of
personnel administration that includes benefits, grievance procedures, training and
compensation.