1. A. Each insurance company desiring to write workers' compensation insurance or an equivalent insurance product in this state and the State Insurance Fund shall develop a workplace safety program for all policyholders who meet the following criteria:

   1. 1. A Standard Industrial Classification Code among those listed by the Commissioner of Labor as the most hazardous industries in the state and an experience modifier of one and one-quarter (1.25) or greater with an annual payroll of at least Two Hundred Thousand Dollars ($200,000.00); or
   2. 2. A Standard Industrial Classification Code among those listed by the Commissioner of Labor as the most hazardous industries in the state and an experience modifier of two (2) or greater. Policyholders meeting the criteria of this subsection are deemed to be high-hazard employers for the purposes of this section.

2. B. Each insurance company and the State Insurance Fund shall:

   1. 1. Notify policyholders if they are found to be high-hazard employers; and
   2. 2. Notify the policyholder that failure to implement a workplace safety plan within twelve (12) months of such notification will result in cancellation of coverage or a surcharge of premiums of up to ten percent (10%).

3. C. Workplace safety plans for high-hazard employers may be provided by:

   1. 1. The insurers' workplace safety services program;
   2. 2. The Department of Labor;
   3. 3. Private safety consultants;
   4. 4. Vocational-technical schools; and
   5. 5. Other entities if their workplace safety services have been approved by the Commissioner of Labor.
4. D. Failure on the part of an insurance company to implement the requirements of subsection B of this section shall constitute grounds for revocation by the Insurance Commissioner of the license to write workers' compensation insurance or an equivalent insurance product in this state.
5. E. Insurance companies and the State Insurance Fund shall notify the Commissioner of Labor, in writing, by July 1 of each calendar year as to the number and names of high-hazard employers for which the insurer writes a workers' compensation policy or an equivalent insurance product. Insurers shall also provide the Commissioner of Labor with data on changes in experience modifiers and injuries and fatalities before and after a safety program has been implemented for a high-hazard employer. The first report required by this subsection shall be due September 30, 1996. The Commissioner of Labor and the Worker Safety Policy Council shall jointly issue a report to the Governor, the President Pro Tempore of the Senate and the Speaker of the House of Representatives by January 1 of each year, beginning in 1997, summarizing data provided by insurers related to safety programs developed by high-hazard employers.

Laws 1994, 2nd Extr. Sess., HB 1002, c. 1, § 13, emerg. eff. November 4, 1994; Amended by Laws 1996, HB 2469, c. 105, § 4, emerg. eff. April 18, 1996.