Current through Register Vol. 41, No. 3, September 23, 2024
A. After reviewing the application, the
commission will approve it (with or without conditions), deny it, or request
additional information.
B. If the
commission approves the application, the applicant will be informed of the
decision, and requested to provide the following:
1. A surety bond written by a company
licensed by the State Corporation Commission to write such bonds in Virginia.
The bond must be in the amount specified by the commission, and provided on the
currently approved version of the commission bond form (VWC Form No.
21A).
2. Proof of excess coverage
provided by a company approved by the State Corporation Commission to write
such coverage in Virginia. The coverage must be in the amount stipulated in the
application, subject to any modifications in limits or retention level that may
have been specified as a condition of the commission's approval of the
application. The coverage may not be provided by any captive or subsidiary of
the self-insurer, or by any captive or subsidiary of the self-insurer's parent
company.
3. A copy of the agreement
between the applicant and the proposed third party administrator (if not
already provided as part of the application).
4. A copy of a parental guarantee if required
by the commission. The guarantee must be provided on the currently approved
version of the commission's parental guarantee form (VWC Form No.
22).
5. Documentation that any
additional conditions of the commission's approval have been met.
C. Once all required materials
have been provided by an approved applicant, the commission will provide a
Certificate of Self-Insurance (VWC Form No. 22A). This certificate continues in
force so long as the applicant meets all its requirements as a self-insurer
under this regulation, under other commission rules and regulations, and under
the provisions of the Virginia Workers' Compensation Act.
D. If the approved applicant fails to provide
the required information within 60 days of the notification of approval, the
application shall be considered withdrawn, but may be reactivated under the
provisions of
16VAC30-80-50 E 5.
E. If the commission disapproves the
application, the applicant will be informed of the action.
1. If the applicant wishes to discuss the
reasons for denial in detail, a specific request may be provided either in
writing or verbally.
2. If, on the
basis of the discussion, the applicant wishes the commission to reconsider the
application, a written request for such reconsideration must be made within 30
days from the date on which the applicant was notified of disapproval. The
request must indicate the grounds for the reconsideration, and must provide
evidence that any reasons for disapproval have been corrected or that the
information previously provided to the commission was incomplete or
incorrect.
3. The commission will
reconsider the application within 60 days, and provide a written response to
the applicant.
4. If the commission
requires additional information, either for an initial review, or for a
subsequent request for reconsideration of a disapproval, the applicant will
have 30 days in which to provide the required information. If the information
is not provided within that time period, the application will be considered
withdrawn.
5. An application that
has been withdrawn, either during review or after initial approval, may be
reactivated so long as it has been no more than 180 days since the original
application was submitted.
6.
Applicants who have withdrawn their applications or have had their applications
rejected may reapply at any time, but must meet all of the application
requirements.
Statutory Authority
§§ 65.2-201 and 65.2-801 of the Code of Virginia.
