New York Codes, Rules and Regulations
Title 12 - DEPARTMENT OF LABOR
Chapter V - Workers' Compensation
Subchapter H - Disability Benefits
Article 1 - Regulations Under Disability Benefits Law
Part 361 - Self-insurance Regulations
Section 361.2 - Agreement

Universal Citation: 12 NY Comp Codes Rules and Regs ยง 361.2

Current through Register Vol. 46, No. 12, March 20, 2024

Each applicant for self-insurance and each self-insurer active as of the effective date of family leave benefits of section 204 of the Workers' Compensation Law, and electing to self-insure for paid family leave benefits, shall execute and file with the chair an agreement, in form prescribed by the chair:

(a) to pay disability benefits and paid family leave, if applicable benefits and paid family leave, if applicable to employees eligible under section 203 of the Workers' Compensation Law:

(1) as provided under section 204 of the Workers' Compensation Law, if there is no plan applicable to such employees; and

(2) as provided by a plan accepted under subdivision 4 or 5 of section 211 of the Workers' Compensation Law for employees covered by the plan;

(b) to deposit securities, and/or cash, and/or file a surety bond and/or irrevocable letters of credit with the chair as required by section 361.3 of this Part:

(1) self-insurance applicant agrees to post additional security if electing to self-insure family leave benefits under section 204 of the Workers' Compensation Law in an amount determined by the method described in Part 361.3(d) of this Title;

(c) to pay all obligations, including benefits, fines, expenses and assessments imposed pursuant to article 9 of the Workers' Compensation Law;

(d) to permit the chair's authorized representatives access to the premises of applicant or self-insurer and of each employer, for the purpose of examining operations and records pertaining to financial conditions and all obligations under article 9 of the Workers' Compensation Law;

(e) that the chair may sell any part of the securities deposited, draw upon the letters of credit or require the surety to pay forthwith to the chair all or any part of the penal sum of the bond, and from the proceeds of the securities, from such penal sum, from the amount drawn, or from the applicant's deposit of cash pay any benefit, obligations, expense, or assessments imposed by law:

(1) when such applicant or self-insurer neglects or refuses to pay such benefit, obligations, expense, or assessments; or

(2) within 30 days prior to the expiration date of any letters of credit when the applicant or self-insurer shall have failed to renew or replace such letters or have substituted cash, securities or a surety bond;

(f) self-insurer electing to self-insure family leave benefits under section 204 of the Workers' Compensation Law agrees to and acknowledges acceptance of all expenses and liability in excess of the sum of the collected employee contributions, provided that the contributions were at the mandatory maximum rate allowed by law;

(g) self-insurer acknowledges that no employee shall bear any additional cost above the maximum contribution rate allowed by law and may not collect any contributions above the maximum rate allowed, except as part of an enhanced benefits plan approved by the chair pursuant to subdivision (5) of section 211 of the Workers' Compensation Law;

(h) self-insurer agrees that funds collected for disability benefits and paid family leave will be combined into a single trust fund for the purpose of making benefit payments to eligible employees under this Title;

(i) self-insurer agrees that contributions and funds collected for the purposes of this Title shall not be commingled with any other funds of the employer;

(j) self-insurer agrees to submit all reports as required by section 361.4 of this Part, and any other reports or information as requested or required by the chair or the Superintendent of the Financial Services.

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