This guide was created to provide servicing carriers and direct assignment carriers with a single source of residual market information.
The guide contains information on topics such as:
- Residual market policy reporting, quota management, assignment mechanism, and assignment of coverage
- Reporting requirements for noncompliance and compliance with policy terms and conditions
- Carrier oversight
- Remediation
- Incentive/Disincentive Programs
- Uncollectible premium procedures
- Indemnification procedures
- Servicing carrier reimbursement procedures for premium fraud matters
- Financial reporting information for workers compensation reinsurance pooling mechanisms