62-5-18. Reduction of premium where employer selects a policy with a deductible.
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/sd/title-62/chapter-62-5/62-5-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any employer may agree, as a condition of the employer's contract for the insurance of compensation and benefits as provided in Title 62, to pay an amount specified in the contract per claim toward the total amount of any claim payable under workers' compensation. The amount of premium to be paid by an employer who selects a policy with a deductible shall be reduced based upon a rating schedule or rating plan filed with and approved by the director of insurance. Administration of claims shall remain with the insurer as provided in the terms and conditions of its policy.