24.29.631 SELF-INSURED EMPLOYERS AND GROUPS -- TRANSFER OF CLAIM LIABILITIES
(1) Any current or former self-insurer or group may transfer existing workers' compensation liabilities to another entity upon authorization from the department and concurrence of the guaranty fund. The self-insurer or group shall:
(a) make application for the transfer of the claims; and
(b) provide an actuarial analysis of the claims to be transferred.
(2) The transfer application and approval process and guidelines will be consistent with the application and approval process for all new or proposed self-insured entities as provided by part 21 of the Workers' Compensation Act and ARM Title 24, chapter 29, subchapter 6.
(3) The independent actuarial analysis of the employer's or group's claim liabilities must be made using the preceding year's data, including all years of self-insurance liabilities. The actuarial report must be completed by a qualified actuary as defined by the American Academy of Actuaries.
(4) After the transfer of claims liabilities is complete, the new owner of the claims liabilities will have the same reporting requirements as all other prior self-insureds in Montana.
History: 39-71-203, MCA; IMP, 39-71-2115, MCA; NEW, 2012 MAR p. 1666, Eff. 8/24/12.