§ 1000.4. Deductible options
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 77 P.S. Workers’ Compensation
77 P.S. § 1000.4
§ 1000.4. Deductible options
(a) An insurer issuing a workers' compensation and employers' liability insurance policy shall offer, upon request, as part of the policy or by endorsement, deductibles optional to the policyholder for benefits payable under the policy, subject to approval by the commissioner and subject to underwriting by the insurer consistent with the principles in clause (b). The commissioner shall promulgate at least three (3) plans with varying deductible options, the least amount of which shall be no less than one thousand dollars ($1,000) nor more than two thousand five hundred dollars ($2,500). The commissioner's authority to promulgate any such plans shall not preclude an insurer from negotiating a deductible in excess of the largest deductible plan herein authorized, subject to approval by the commissioner and subject to underwriting by the insurer consistent with the principles in clause (b).
(c) An insurer issuing a workers' compensation and employers' liability insurance policy may offer an endorsement for deductible or retrospective rating plans for groups of five (5) or more employers, subject to approval by the commissioner and subject to underwriting by the insurer consistent with the principles in clause (b).
Credits
1915, June 2, P.L. 736, No. 338, art. IV, § 448, added 1993, July 2, P.L. 190, No. 44, § 19, effective in 60 days. Amended 1996, June 24, P.L. 350, No. 57, § 21, effective in 60 days.
77 P.S. § 1000.4, PA ST 77 P.S. § 1000.4
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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