1. A. When used in this regulation, the following words or terms shall have the following meaning.

   1. Contingent Liability—the amount that a group self-insurance fund may be obligated to pay in excess of a given fund year’s normal premium collected or on hand.
   2. Department—the Louisiana Department of Insurance.
   3. Group Self-Insurance Fund or Fund—employers who enter into agreements to pool their automobile liabilities for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles in accordance with Louisiana Revised Statutes 3:4351.2.
   4. Members Distribution Payable/Surplus―assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.
   5. Surplus—assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:4351.9(D).

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Insurance, Office of the Commissioner, LR 49:1411 (August 2023).