Rule 4123-21-03 | Premium payment.
(A) When the initial application for coverage is received and accepted, the applicant will be billed initial premium based upon its estimated gross annual payroll provided by the employer on its application for subscription. Premiums for coal workers' pneumoconiosis insurance coverage are payable in annual installments. An employer whose premiums are above the minimum administrative charge may change to semi-annual installments upon request. An employer must make the request no later than April first preceding the policy year.
(B) The initial premium required for issuance of a new coal-workers' pneumoconiosis fund insurance policy will be an advance deposit sufficient to cover premiums for a twelve-month period, unless semi-annual installments were selected. If an employer elects semi-annual installments, the premium required for issuance will be an advance deposit equal to one-half of the premium for a twelve-month period.
(C) Annual renewal premiums are due and payable no later than April thirtieth of each year. Semi-annual installment renewal premiums are due and payable by April thirtieth and October thirty-first of each year. Where applicable, the coal workers' pneumoconiosis fund will provide the notice of impending cancellation required by paragraph (B) of rule 4123-21-07 of the Administrative Code on or before May twenty-sixth of each year, for annual installments and on or before November twenty-sixth where an employer fails to make its semi-annual installment payment. The premium required for renewal for the next annual period will be determined in accordance with the provisions of paragraphs (A) and (B) of this rule. However, the administrator of workers' compensation, subject to the approval of the bureau of workers' compensation board of directors, may by rule establish a minimum annual premium, payment of which is a condition to continuation of coverage.
(D) Upon cancellation of coverage other than by default, any premiums due through the date of cancellation will be deducted from the advance premium deposit and the balance will be refunded to the former subscriber.
Last updated August 1, 2023 at 8:39 AM