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Title 31: Money and Finance: Treasury
Subtitle A: Office of the Secretary of the Treasury
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Subpart D: State Residual Market Insurance Entities; Workers' Compensation Funds
50.35 - Entities that share profits and losses with private sector insurers.
(a) Treatment. A State residual market insurance entity or a State workers' compensation fund that shares profits and losses with a private sector insurer is not deemed to be a separate insurer under the Program.
(b) Premium and loss calculation. A State residual market insurance entity or a State workers' compensation fund that is not deemed to be a separate insurer should continue to report, in accordance with normal business practices, to each participant insurer its share of premium income and insured losses, which shall then be included respectively in the participant insurer's direct earned premium or insured loss calculations.
[68 FR 59720, Oct. 17, 2003]
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