Louisiana Administrative Code
Title 37 - INSURANCE
Part XIII - Regulations
Chapter 193 - Regulation Number 128-Louisiana Timber and Agriculture Transportation Group Self-Insurance Funds
Section XIII-19301 - Definitions
Current through Register Vol. 50, No. 3, March 20, 2024
A. When used in this regulation, the following words or terms shall have the following meaning.
Contingent Liability-the amount that a group self-insurance fund may be obligated to pay in excess of a given fund year's normal premium collected or on hand.
Department-the Louisiana Department of Insurance.
Group Self-Insurance Fund or Fund-employers who enter into agreements to pool their automobile liabilities for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles in accordance with Louisiana Revised Statutes 3:4351.2.
Members Distribution Payable/Surplus-assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.
Surplus-assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.
AUTHORITY NOTE: Promulgated in accordance with R.S. 3:4351.9(D).
