Workers’ Compensation Insurance Retrospective Rating Plans

Arkansas Insurance Department Mike Huckabee, Governor Mike Pickens, Commissioner March 7, 2002 BULLETIN NO. 4-2002 TO: ALL LICENSED INSURERS WRITING WORKERS’ COMPENSATION INSURANCE, TRADE ASSOCIATIONS, NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND OTHER INTERESTED PARTIES FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: WORKERS’ COMPENSATION INSURANCE RETROSPECTIVE RATING PLANS Effective April 1, 2002, the Arkansas Insurance Department will not approve any new Workers’ Compensation Insurance Large Risk Alternative Rating Option plans which provide for a premium eligibility threshold of less than $250,000.00. Approval for all existing filings of this type will be rescinded on August 1, 2002. It will be necessary for all insurance companies licensed to write Workers’ Compensation Insurance in Arkansas with an approved Retrospective Rating Plan providing for a premium eligibility threshold of less than $250,000.00 to immediately make a filing with the Department amending their retrospective rating plan to provide for a minimum premium eligibility of at least $250,000.00. No fee will be required for this limited filing. This Bulletin is applicable to all new business written on or after August 1, 2002, and to all policies renewed on or after August 1, 2002. Questions regarding this bulletin or required filing should be directed to Carol Stiffler, Property and Casualty Division, telephone number (501) 371-2807 or carol.stiffler@mail.state.ar.us. ________________________________ MIKE PICKENS INSURANCE COMMISSIONER