2015 Utah Code
Title 31A - Insurance Code
Chapter 33 - Workers' Compensation Fund
Section 103.5 - Powers of fund -- Limitations.

Effective 5/12/2015
31A-33-103.5. Powers of fund -- Limitations.

• (1) The fund may form or acquire subsidiaries or enter into a joint enterprise:
  • (a) in accordance with Section 31A-33-107; and
  • (b) except as limited by this section and applicable insurance rules and statutes.

• (2) Subject to applicable insurance rules and statutes, the fund may only offer:
  • (a) workers' compensation insurance and, subject to Subsection (5)(b), reinsurance in Utah;
  • (b) workers' compensation insurance and workers' compensation reinsurance in a state other than Utah;
  • (c) death, disability, or medical benefits arising from an industrial accident or occupational disease arising from employment in Utah or other states; and
  • (d) workers' compensation products and services in Utah or other states.

• (3) Subject to applicable law, including insurance rules and statutes, a subsidiary of the fund shall operate in Utah or a state other than Utah as a for profit, taxable business enterprise.

• (4) The fund shall write workers' compensation insurance in accordance with Section 31A-22-1001.

• (5)
  • (a) The fund may enter into a joint enterprise that offers workers' compensation insurance and other coverage, provided:
    • (i) the joint enterprise offers only property or liability insurance in addition to workers' compensation insurance;
    • (ii) the fund may not bear any insurance risk associated with the insurance coverage other than risk associated with workers' compensation insurance; and
    • (iii) the offer of other insurance shall be part of an insurance program that includes workers' compensation insurance coverage that is provided by the fund.
  • (b)
    • (i) The fund or a subsidiary of the fund may not offer, or enter into a joint enterprise that offers, or otherwise participate in the offering of accident and health insurance or administer a health benefit plan.
    • (ii) Subject to Subsection (5)(b)(i), the fund or a subsidiary of the fund may serve as a reinsurer or reinsurance intermediary for medical or disability costs or exposures assumed by a self-insured employer in Utah.

Amended by Chapter 427, 2015 General Session