The Industrial Commission of Arizona will hold a hearing in May on a proposed 0.5% assessment for the fund used to pay benefits in cases where an employer is uninsured, or a carrier or self-insured employer is no longer solvent.
Carriers pay an assessment equal to 1% of premiums to cover the obligations of the state’s Special Fund, while self-insured employers are assessed 1% of claim costs.
The commission said current liabilities for the Special Fund exceed $6 million, which allows it to add a 0.5% assessment to finance the program.
The commission is holding a hearing on the proposed...
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