SENATE AMENDMENT
Bill No. HB 1837, 2nd Eng.
Amendment No. ___ Barcode 500346
CHAMBER ACTION
Senate House
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11 Senator Campbell moved the following amendment:
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13 Senate Amendment (with title amendment)
14 Between lines 5186 and 5187
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16 insert:
17 Section 42. It is the intent of the Legislature to
18 create a state mutual insurance fund for workers'
19 compensation, effective January 1, 2005, if the workers'
20 compensation rates do not decrease by 20 percent on or before
21 January 1, 2005.
22 Section 43. (1) There is established a Joint Select
23 Committee on Workers' Compensation Rating Reform. The
24 committee shall study the merits of requiring each workers'
25 compensation insurer to individually file its expense and
26 profit portion of a rate filing, while permitting each insurer
27 to use a lost cost filing made by a licensed rating
28 organization. The committee shall also study options for the
29 current prior approval system for workers' compensation rate
30 filings, including, but not limited to, rate filing procedures
31 that would promote greater competition and would encourage
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8:40 PM 04/29/03 h1837c-32c6y
SENATE AMENDMENT
Bill No. HB 1837, 2nd Eng.
Amendment No. ___ Barcode 500346
1 insurers to write workers' compensation coverage in the state
2 while protecting employers from rates that are excessive,
3 inadequate, or unfairly discriminatory.
4 (2) The committee shall be composed of three Senators
5 appointed by the President of the Senate and three members of
6 the House of Representatives appointed by the Speaker of the
7 House of Representatives. The appointed members of the
8 committee shall elect a chair and vice chair. The staffs of
9 the Senate Banking and Insurance Committee and the House
10 Insurance Committee shall serve as staff for the committee.
11 The Department of Financial Services and the Office of
12 Insurance Regulation shall provide information and assistance
13 as requested by the committee.
14 (3) The committee shall issue its final report and
15 recommendations to the President of the Senate and the Speaker
16 of the House of Representatives by December 1, 2003.
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18 (Redesignate subsequent sections.)
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22 And the title is amended as follows:
23 On line 103, after the semicolon
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25 insert:
26 providing legislative intent; creating a Joint
27 Select Committee on Workers' Compensation
28 Rating Reform and providing its membership and
29 duties;
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