MEMORANDUM
TO: Members of the Georgia Self-Insurers Guaranty Trust Fund
FROM: John P. Reale, Administrator
DATE: December 1, 2010
RE: Important Changes, Notifications, and Reminders
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2011 will be an important year regarding changes for members of the Fund. Due to new legislative changes, a new
fee structure will be implemented on January 1, 2011, which will include minimum assessments increasing from $1,000
to $2,000, and maximum assessments increasing from $4,000 to $8,000.
Also, please note the following changes to the 2011 Member Information Update Form:
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Regarding question #1 for Active & Cancelled Members: |
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State the company name in which your self-insurance is registered.
State the name of the person who is our primary contact person at the member company,
along with his/her address and telephone number. |
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State the name of the person who is our secondary contact, along with his/her address and telephone number. |
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| 2. |
Regarding question #2 for Active & Cancelled Members: |
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Revised State Board of Workers’ Compensation contact name, telephone number and e-mail address. |
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Regarding question #2B for Active & Cancelled Members: |
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Attach a copy of your third-party administrator’s Georgia TPA license.
Please note, such license can be obtained by contacting the Office of Insurance and Safety Fire Commissioner
at (404) 656-2056. Added language: If your TPA is exempt from licensure, please provide a copy of the
signed exemption letter. For an example of the exemption letter, please visit our website at www.gaguaranty.com. |
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| 4. |
Regarding Question #8 for Active Members (N/A for Cancelled Members) |
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Was there a change in ownership of your company last year,
or did you buy or sell subsidiary companies last year? Moved from question #29 on the active
member form. |
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| 5. |
Regarding Question #17 for Active Members & Question #13 for Cancelled Members |
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Submit a loss run, as of 12/31/10, for your company, and a separate loss run
for subsidiaries and affiliates, if any. |
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Submission of the loss run for your company may be made by thumb drive or CD, if preferable. |
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Please note, once data is submitted, no changes may be made. Please ensure accuracy of data before sending. |
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| 6. |
Regarding Question #18 for Active Members & Question #14 for Cancelled Members |
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Please attach a written explanation of any variance of 20% or more
in the total medical, indemnity, and/or reserve data that you reported on last year’s update form.
Moved from question #21 on the active member form, and question #27 on the cancelled member form. |
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| 7. |
Regarding Question #19 for Active Members & Question #15 for Cancelled Members |
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Please attach a list of all claims designated to be catastrophic along with their respective reserves.
Added language: If none, please indicate N/A here: _____________. |
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| 8. |
Regarding Question #19 for Active Members & Question #17 for Cancelled Members |
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Captive insurance endorsement. Removed language, “per your agreement with this employer”. |
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Captive endorsement page to be completed by captive insurer, requesting the following information:
Endorsement Number, Named Insured, Policy Number, with Authorized Representative signature, and date. Added contact information
for Fund and State Board of Workers’ Compensation. |
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| 9. |
Regarding Question #26 for Active Members & Question #25 for Cancelled Members |
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Please advise who is responsible for notifying your excess carrier of claims eligible for reimbursement. |
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Please advise who is responsible for notifying the SITF of claims eligible for reimbursement. |
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| 10. |
Regarding Question #31 for Active Members & Question #28 for Cancelled Members |
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For submitting audited financial statements, if preferable, list your company’s website address. |
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Should you have any questions, please do not hesitate to contact us at the number listed above.
Thank you in advance for your cooperation.