(1) An employer who has been self-insured may renew the election each ensuing year, by meeting all the requirements of these rules except that the claims summary required in ARM 24.29.617(1) (f) must be a claims summary for the preceding year(s) for claims incurred as a self-insurer in Montana. Application for renewal must be made 60 days prior to the renewal date, or on such other date as determined by the department and the guaranty fund.

(2) An employer group which has elected to be bound by plan no. 1 may renew the election for each ensuing year by meeting all the requirements of these rules except ARM 24.29.618 (1) (c) , (1) (d) , (1) (e) , (1) (f) , (1) (h) , (1) (m) , (1) (n) , (1) (r) , (1) (s) , (1) (t) , (1) (u) , (1) (v) , and (1) (w) . Application for renewal must be made at least 90 days prior to the renewal date, or on such other date as determined by the department and the guaranty fund. In addition to the information required in ARM 24.29.618, the employer group shall submit:

(a) a copy of the preceding year's audited financial statements for the self-insured group;

(b) an actuarial report for the preceding year which includes recommended premium levels considered adequate to fund losses; and

(c) a claims summary for the preceding 3 years for claims incurred as a self-insurer in Montana.

(3) If a self-insurer does not renew its election, the employer(s) shall elect to be bound by compensation plan no. 1, plan no. 2, or plan no. 3 on the effective date of the termination of permission to self-insure.