Okla. Admin. Code § 810:25-9-12

Current through Vol. 42, No. 4, November 1, 2024

Section 810:25-9-12 - Interim monitoring

(a) An individual own risk employer may be placed on quarterly reporting by the Commission for purposes of monitoring its financial condition and workers' compensation loss history. Companies on quarterly reporting shall submit financial statements and loss runs to the Commission within sixty (60) days after the end of each of their fiscal quarters. An adjustment in the individual own risk employer's security deposit may be required after the Commission reviews the quarterly results.

(b) The Commission reserves the right to audit any insureds that they have determined a concern exists with an insureds ability to meet its financial obligations. These audits will focus on the reserve estimates and ensure that all claims are reserved to at least the "most probable outcome". The Commission defines "most probable outcome" as the expected amount of money to cover a claim based upon information known at the time of the report. The costs of these audits will be borne by the individual own risk employer and/or association.

Adopted by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015