23 CAR § 203-112 – Self-funded plan

(a) It is ultimately essential for maintaining the viability of the plan to establish and maintain rates at a level that will permit the plan to operate as a self-funded mechanism.
(b) The plan administrator shall maintain necessary ratemaking data in order to permit the actuarial determination of rates and rating plans appropriate for the business insured through the plan.
(c) All assigned carriers are required to report their experience on business written under the plan to the administrator in a format prescribed by the National Council on Compensation Insurance, Inc.
(d) It is the responsibility of the plan administrator to monitor both rate adequacy and plan results.
(e) The plan administrator shall notify the Insurance Commissioner if excessive losses are indicated to enable the commissioner to take corrective action.