Section 0780-01-83-.08 - REPORTING REQUIREMENTS(1) Every Employer no later than the last day of the sixth month after the end of its immediately preceding fiscal year shall file an annual report with the Commissioner to include the following:(a) Independently audited financial statements according to Generally Accepted Auditing Standards of the American Institute of Certified Public Accountants;(b) Claims information, such as loss run information, in the form and manner prescribed by the Commissioner; and(c) A detailed accounting for reserves for losses outstanding incurred in connection with workers' compensation self-insurance.(2) Every Employer shall biennially and no later than the last day of the sixth month after the end of its immediately preceding fiscal year file with the Commissioner an opinion from a qualified actuary attesting to the adequacy of the Employer's reserves.(3) An Employer that amends its charter, articles of incorporation, or partnership agreement to change its identity or business structure, or in any other manner materially alters its status as it existed at the time of issuance of its Certificate of Authority shall, within thirty (30) days after the amendment or other action, notify the Commissioner of such action and provide the Commissioner with a copy of such amendment or other action.(4) An Employer that changes its third party administrator shall notify the Commissioner at least thirty (30) days prior to any such change, and shall file a copy of the contract with its new third party administrator at that time.(5) An Employer who declares voluntary bankruptcy or who is placed into involuntary bankruptcy under U.S.C. Title 11 shall notify the Commissioner, in writing, of the filing of a petition for bankruptcy within twenty-four (24) hours of such filing. An Employer shall also so notify the Commissioner of any affiliates of the Employer which have declared bankruptcy or have been placed into involuntary bankruptcy under U.S.C. Title 11. These notices should be sent to the following address: General Counsel, Department of Commerce and Insurance, Davy Crockett Tower, Fifth Floor, 500 James Robertson Parkway, Nashville, Tennessee 37243.Tenn. Comp. R. & Regs. 0780-01-83-.08
Original rule filed August 11, 2005; effective October 25, 2005.Authority: T.C.A. §§ 50-6-405(b)(2), 50-6-405(b)(8), and 50-6-405(h).