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Arizona Administrative Code (Last Updated: November 17, 2016) |
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Title 20. COMMERCE, FINANCIAL INSTITUTIONS, AND INSURANCE |
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Chapter 5. INDUSTRIAL COMMISSION OF ARIZONA |
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Article 2. SELF-INSURANCE REQUIREMENTS FOR INDIVIDUAL EMPLOYERS AND WORKERS’ COMPENSATION POOLS ORGANIZED UNDER A.R.S. §§ 11-952.01(B) AND 41-621.01 |
Section R20-5-215. Fixed Premium Plan: Definition; Formula; Eligi- bility
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A. A Fixed Premium Plan means a plan in which neither losses nor incurred loss reserves are used for calculation. The only discount is for premium size.
B. The formula for calculation of the fixed premium plan is as follows: Payroll x Applicable Rate Less Premium Discount.
C. Fixed Premium Plan shall be the exclusive plan available to:
1. Those self-insurers electing this plan.
2. Those self-insurers whose annual net taxable premium does not exceed $100,000 annually.
3. Those self-insurers not eligible for any other plan autho- rized by the Commission for rating purposes.
Historical Note
Former Rule XV. Section repealed, new Section adopted effective July 6, 1993 (Supp. 93-3). R20-5-215 recodified
from R4-13-215 (Supp. 95-1).