NC Revised Application For Designation Of An Insurance Company

Raleigh, NC (CompNewsNetwork) - The North Carolina Rate Bureau has adopted and the North Carolina Department of Insurance has approved a revised North Carolina Workers Compensation Insurance Plan Application For Designation of An Insurance Company effective August 1, 2009 for use in connection with the North Carolina Workers Compensation Insurance Plan. The new version has an edition date of 2009/08 and will become the mandatory form to be used for designation of an insurance company through the North Carolina Workers Compensation Insurance Plan for assigned risk workers compensation. All previous versions of the application should be replaced as those forms will no longer be accepted by the Bureau.
The most significant revisions to the application are listed below:
  • Section 10 – Calculation of North Carolina Estimated Annual/Deposit Premium section has been changed to update verbiage as follows:
  • The term “Foreign Terrorism” has been changed to “Terrorism”
  • The term “DTEC” has been changed to “Catastrophe (Other Than Certified Acts of Terrorism)”
These verbiage changes will also be reflected in the ManageAR electronic online assigned risk application.

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