2019 US Virgin Islands Code
Title 24 - Labor
Chapter 11 - Workers' Compensation Administration
§ 272. Insurance required, period of coverage

(a) Every employer shall secure the payment of compensation under this chapter by insuring with the Government Insurance Fund created by this chapter.

(b) The insurance of each employer shall be in force immediately after his statement has been filed with the Commissioner of Finance together with the amount of the premium corresponding to the wages declared in said statement and in accordance with the rates fixed by the Commissioner of Finance, provided that an accident that occurs before payment of said premium is made shall be considered as a case of an uninsured employer, unless the employer pays within the term fixed by the Commissioner of Finance, in which case, the insurance shall become effective from the date the employer filed the statement.

(c) Any employer who has been covered by the Government Insurance Fund at the end of the preceding year shall be covered during the period January 1st to March 31st, provided that such employer submits the necessary reports to the Government Insurance Fund no later than February 28th, and pays the premium due by March 31st. Every employer who has not filed the required reports and paid the premium due to which this section refers within the term herein fixed shall be considered an uninsured employer.

(d) [Reserved.]

(e) when an employer becomes insolvent, a claim by the Government Insurance Fund for premiums and interest due shall be a preferred claim in the bankruptcy, trustee or receivership process.