La. Admin. Code tit. 40 § I-1711

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-1711 - Filing of Reports- Penalties

A. Each individual self-insurer shall file annual statements of financial condition with the Office of Workers' Compensation in a form acceptable to the Office of Workers' Compensation on or before May 1 of each year, except that fiscal year end filers shall file annual statements of financial condition four months after fiscal year end. These statements must be prepared by a certified public accountant and must be certified audits, except that an individual self-insurer may be allowed to submit another type of statement acceptable to the Office of Workers' Compensation. An additional security deposit or surety bond may be required in the absence of a certified audit.

B. Summary loss data will be filed with the Office of Workers' Compensation by each individual self-insurer on or before February 1 of each year. This report will include but not be limited to the name of the employer, name of the injured employee, claim number, date of accident, nature of injury, amounts paid on the claim for indemnity or medical and outstanding reserves, if any. This report will cover all incurred losses for the prior year as well as any pending claims where any type payment is made or reserve is pending.

C. In addition to the above required annual reports, the Office of Workers' Compensation may require interim financial statements, summary loss data, payroll audits, or such other reports or statements upon reasonable notice.

D. This rule places the responsibility on the employers, groups and service companies to perform their prescribed duties and responsibilities without prompting from the office. Failure or refusal of any self-insurer to file the required report with the office within the prescribed time period shall subject the self-insurer to a civil penalty in such amount as the office may prescribe, not to exceed $100 per infraction per day, and may be sufficient cause for the revocation of the self-insurer privilege. Failure to pay such penalty within 30 days of the notification may be considered additional cause for revocation of the self-insurer privilege.

La. Admin. Code tit. 40, § I-1711

Promulgated by the Department of Employment and Training, Office of Workers' Compensation, LR 17:961 (October 1991).

AUTHORITY NOTE: Promulgated in accordance with R.S. 23:1168 of Act 938 of 1988 Regular Session.