52-9-23. Annual report.
181 words·~1 min read·
/nm/chapter-52-workers-compensation/article-9-employers-mutual-company/52-9-23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The president shall submit an annual, independently audited report, in accordance with procedures governing annual reports adopted by the national association of insurance commissioners, by October 1 of each year to the governor, the legislative finance committee and any other appropriate legislative committee indicating the business done by the company during the previously completed fiscal year and containing a statement of the resources and liabilities of the company. The report shall include:
A. the volume of premiums insured through the company and its share of the workers' benefits market in the state;
B. the percent division of the premium dollars among various types of benefit payments and administrative costs for policies and claims under the company;
C. the average rate of return enjoyed by the company on invested assets;
D. recommendations concerning desired changes in the company to promote its prompt and efficient administration of policies and claims;
E. recommendations to the legislature and the governor regarding the continued operation of the company; and
F. any other information the president deems appropriate.
History: Laws 1990 (2nd S.S.), ch. 2, § 143.