§ 50.31. Entities that do not share profits and losses with private sector insurers.
81 words·~1 min read·
/us/cfr/t31/s§ 50.31·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Treatment. A state residual market insurance entity or a state workers' compensation fund that does not share profits and losses with a private sector insurer is deemed to be a separate insurer under the Program.
(b)Premium calculation. A state residual market insurance entity or a state workers' compensation fund that is deemed to be a separate insurer should follow the guidelines specified in § 50.4(h)(1) or
(2)for the purposes of calculating the appropriate measure of direct earned premium.