Indiana: Take-out program offers carriers credits
The Indiana Compensation Rating Bureau posted Circular 2010-01 regarding the Indiana Pool Take-Out Credit Program for calendar year 2009. The program encourages carriers to remove, or take out, employers from the residual market.
It allows a carrier to obtain credits against its pool participation base by writing assigned risks voluntarily in the regular market. A carrier can earn the credit for up to three years. The deadline for carriers to enroll with the National Council on Compensation Insurance was Feb. 26. However, carriers that are enrolled in the NCCI system or received a take-out credit for calendar year 2008 are already enrolled and are not required to enroll in the 2009 program. During the week of March 29, enrolled coverage providers will receive an e-mail with a report listing their eligible policies and corresponding take-out credits. Once requests for take-out credits are received by the NCCI administrator (deadline April 16), they will be sent to the Indiana Compensation Rating Bureau to verify and adjust the company's calendar year 2009 voluntary market share. For more information, visit www.icrb.net.
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March 11, 2010
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