On Dec. 12, OKL INS set company to administer an assigned risk plan.
OKL INS issued Bulletin No. 9-2022, to inform workers' compensation insurers of changes made to the residual market effectuated by SB 524, see #138737.
Designated National Council on Compensation Insurance for OKL assigned risk plan.
Document dated Dec. 12, 2022, received Dec. 21, and summarized on Dec. 27.
Directed OKL INS to administer and develop an assigned risk plan to provide workers' compensation coverage to employers unable to procure coverage in voluntary market.
Transition of residual market from CompSource Mutual must occur by Jun. 1, 2024.
Dept. designated National Council on Compensation Ins to develop, administer in OKL.
Effectiveness
Residual market transition required to occur by Jun. 1, 2024.
Regulators
OKL INS
Entity Types
Corp; Ins
Reference
Bul. 9-2022, 12/1/2022; Citation: OKL LEG 36 OS 2021 S 995;
Functions
Actuarial and Valuation; Compliance; HR; Legal; Operations; Product Design; Underwriting
