2005 Idaho Code - 72-913 — CLASSIFICATION OF RISKS AND ADJUSTMENT OF PREMIUMS

                                  TITLE  72
                      WORKER'S COMPENSATION AND RELATED
                        LAWS -- INDUSTRIAL COMMISSION
                                  CHAPTER 9
                             STATE INSURANCE FUND
    72-913.  CLASSIFICATION OF RISKS AND ADJUSTMENT OF PREMIUMS. Employments
insured in the state insurance fund shall be divided by the manager, for the
purposes of the said fund, into classes. Separate accounts shall be kept of
the amounts collected and expended in respect to each such class for
convenience in determining equitable rates; but for the purpose of paying
compensation, the state insurance fund shall be deemed one (1) and
indivisible. The manager shall have power to rearrange any of the classes by
withdrawing any employment embraced in it and transferring it wholly or in
part to any other class, and from such employments to set up new classes in
his discretion. The manager shall determine the hazards of the different
classes and fix the rates of premiums therefor based upon the total payroll
and number of employees in each of such classes of employment at the lowest
possible rate consistent with the maintenance of a solvent state insurance
fund and the creation of a reasonable surplus and reserve; but for such
purpose and in so fixing such rates of premium, such rates shall be fixed with
due regard to the physical hazards of each industry, occupation, or
employment, and, within each class, so far as practicable, in accordance with
the elements of bodily risk or safety or other hazard of the plant or premises
or work of each insured and the manner in which the same is conducted,
together with a reasonable regard for the accident experience and history of
each such insured, and with due regard to the accessibility of medical and
hospital facilities.