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80.40 Assessment for unpaid claims of insolvent self-;insurer.
If an employer currently or formerly exempted from the duty to insure by order of the department under
s. 102.28 (7) (b) , Stats., is unable to pay any award and if judgement against such employer is returned unsatisfied, the department shall determine payment into the fund established by s.
102.28 (8), Stats., as follows:
- (1) The department shall prepare an estimate of the payments that should be made by the insolvent exempt employer for a period of one year. If the department elects to retain an insurance carrier or insurance service organization under s. 102.28 (7) , Stats., the department will prepare an estimate of the charges that will be made by such carrier or organization to process, investigate and pay such claims for the same one year period. The sum of these 2 amounts shall be divided by the total number of employers exempted under s. 102.28 (2) , Stats.
- (2) The department shall assess and order payment within 30 days by each exempt employer the amount determined under sub.
- (1) to the state treasurer for deposit in the fund created by s. 102.28 (8) , Stats.
- (3) The department shall prepare an estimate of the total remaining liability of the insolvent exempt employer and an estimate of the amount that may be recovered from that employer, its receiver or trustee in bankruptcy. Such estimates shall be communicated to all exempt employers.
- (4) At least annually following the original order the department shall estimate the amount due and payable during the following year and the charges expected from any insurance carrier or claims service for such year and assess and order payment by each exempt employer its pro rata share determined as provided by s. 102.28 (7) (b), Stats.
- (5) At the time orders are issued under sub. (4) the department shall prepare an estimate of the remaining liability of the insolvent exempt employer and the amount that may reasonably be expected to be recovered from such employer, its receiver or trustee in bankruptcy. Such estimates will be communicated to all exempt employers.
- (6) All money due and payable to injured employees which remain unpaid shall be considered money payable during the following year in making estimates.
- (7) All money recovered by the attorney general and paid into the fund shall be used in the payment of unpaid claims and shall be taken into account in making estimates and assessments.
History: Cr. Register, September, 1986, No. 369 , eff. 10-;1-;86.