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An Act

HOUSE BILL 98­1038

BY REPRESENTATIVES Reeser, Mace, and Zimmerman;

also SENATOR Chlouber.

CONCERNING PAYMENTS TO WORKERS' COMPENSATION FUNDS BY INSURERS OFFERING WORKERS' COMPENSATION LARGE DEDUCTIBLE POLICIES.

Be it enacted by the General Assembly of the State of Colorado:

SECTION 1.  10­1­109 (2), Colorado Revised Statutes, is amended to read:

10­1­109.  Rules and regulations of commissioner. (2)  On or before January 1, 1995, the JULY 1, 1998, THE commissioner shall adopt regulations to ensure that payments to the subsequent injury fund created in section 8­46­101, C.R.S., THE WORKERS' COMPENSATION CASH FUND, CREATED IN SECTION 8­44­112 (7), C.R.S., THE COST CONTAINMENT FUND CREATED IN SECTION 8­14.5­108, C.R.S., and the major medical insurance fund created in section 8­46­202, C.R.S., from surcharges on premiums paid for policies of workers' compensation insurance that feature deductibles in excess of the limit set forth in section 8­44­111 (1), C.R.S., reflect the value of any reduction in premium achieved through the use of such deductibles. Such regulations shall apply only to claims made on policies issued or renewed after the effective date of the regulations. In adopting such regulations, the commissioner shall determine the most effective method of establishing the value of deductibles in excess of such limits and ensuring that payments reflect such value.

SECTION 2.  Safety clause. The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.



____________________________ ____________________________

Charles E. Berry Tom Norton

SPEAKER OF THE HOUSE PRESIDENT OF

OF REPRESENTATIVES THE SENATE





____________________________ ____________________________

Judith M. Rodrigue Patricia K. Dicks

CHIEF CLERK OF THE HOUSE ASSISTANT SECRETARY OF

OF REPRESENTATIVES THE SENATE



APPROVED________________________________________




_________________________________________

Roy Romer

GOVERNOR OF THE STATE OF COLORADO


Created: 3/25/98 Updated: 3/25/98