Workers' Compensation Assigned Risk Business Changes

“Promoting a healthy economy and strong communities” BULLETIN B 04-04 TO: ALL PRODUCERS AND BROKERS WRITING WORKERS’ COMPENSATION INSURANCE POLICIES IN THE STATE OF ALASKA AND OTHER INTERESTED PARTIES RE: WORKERS’ COMPENSATION ASSIGNED RISK BUSINESS CHANGES On July 1, 2002, a Loss Sensitive Rating Plan (LSRP) was approved for use with policies written in the Alaska Workers’ Compensation Insurance Plan. The LSRP was to be applied to assigned risk policies that had an estimated annual standard premium or total audited standard premium that equaled or exceeded $200,000. During 2003, the Alaska Workers’ Compensation Review and Advisory Committee (ARAC) monitored the impact of the LSRP on Alaskan employers. At its January 2004 meeting, the ARAC directed the National Council on Compensation Insurance, Inc. to withdraw the previously approved Loss Sensitive Rating Plan. The Division of Insurance has approved the withdrawal of the Assigned Risk Loss Sensitive Rating Plan retroactive to July 1, 2002. Any deposits currently held by the assigned carriers will be refunded to the employer. If you have questions, please contact the Division of Insurance, P.O. Box 110805; Juneau, AK 99811-0805; (907) 465-2515; or via electronic mail at insurance@dced.state.ak.us Dated this 17th day of March, 2004. Linda S. Hall Director