Connecticut Administrative Code
Title 31 - Labor
284 - Self-Insurance Certification
Section 31-284-11 - Reporting requirements
Universal Citation: CT Reg of State Agencies 31-284-11
Current through December 12, 2024
(a) Financial Reports. Initial applications shall be accompanied by the three (3) proceeding fiscal years' independently audited financial reports. Renewal applicants shall submit the latest available fiscal year-end audited financial reports. Current self-insurers shall submit audited financial year-end reports within thirty (30) days of availability.
(1)
If the latest audited financial statement is more than six (6) months old, the
corporate treasurer, partner, or proprietor, shall file an affidavit stating
that there has been no significant deterioration in the financial condition of
the applicant.
(2) If there has
been a material adverse change since the date of the audited financial report,
an explanation from the company treasurer shall be attached or a new statement
prepared and submitted.
(b) Interim reports may be requested by the Chairman or his designee when the financial strength of the employer is at question as determined by the Chairman or his designee.
(c) All applicants shall provide a description of the primary and secondary sources of funds for the payments of claims.
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