South Carolina Code of Regulations
Chapter 67 - SOUTH CAROLINA WORKERS' COMPENSATION COMMISSION
Article 15 - SELF-INSURANCE
Section 67-1502 - Self-Insurance, Granting the Privilege and Providing Proof of Compliance
Universal Citation: SC Code Regs 67-1502
Current through Register Vol. 48, No. 9, September 27, 2024
A. Each application in R.67-1501 is reviewed by the Commission's Self-Insurance Division. The Commission may approve an application contingent on the applicant's filing the proper forms and documents evidencing proof of compliance.
(1) Proof of compliance consists of the
following documents filed with the Self-Insurance Division.
(a) A copy of the excess insurance policy
according to R.67-1503;
and
(b) A Form 8, Proof of
Compliance, Surety Bond, or a Form 8A, Proof of Compliance, Securities Pledge,
or a Form 8B, Proof of Compliance, Memorandum of Understanding and Irrevocable
Letter of Credit; and
(c) Proof of
a reserve account, if applicable, according to R.67-1504;
and
(d) Compliance with the terms
and conditions for approval of the self-insurance program as ordered by the
Commission.
(2)
Commercial insurance must be continued until the forms as provided above are
filed with the Commission's Self-Insurance Division and until the effective
date of the self-insurance program as provided on the Form 9, Certificate for
Self-Insurance.
B. The Self-Insurance Division notifies the applicant in writing of its recommendation to the Commission and the terms of the Commission's contingent approval, if any.
(1) The forms evidencing proof of
compliance shall be filed at least sixty days from the date of the Commission's
contingent approval.
(2) Failure to
file proof of compliance provided in A above shall result in the administrative
recision of the Commission's approval. The applicant may refile its application
according to R.67-1501.
(3) The
applicant may make a written request to the Self-Insurance Division for a sixty
day extension of time to file the forms and documents evidencing
compliance.
(4) Each form and
document evidencing compliance shall be filed no later than one hundred twenty
days from the date of the Commission's contingent approval.
(5) Failure to file the forms and documents
evidencing proof of compliance at least one hundred twenty days from the date
of contingent approval shall result in the administrative rescission of
approval. The applicant may refile its application according to
R.67-1501.
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