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Georgia Self Insured Workers Compensation Plan Deposit Increases

by Surety Admin 5. September 2010 03:44
Georgia HB 1101 increases the minimum amount of the security deposit required for self-insured workers’ compensation plans from $100,000 to $250,000. The new law also requires the security to remain in place until all claims under the plan have been closed, the self-insurer no longer is active and all applicable statutes of limitation have run out. Prior law provided that the State Board of Workers’ Compensation determined whether a deposit must remain in place. ENACTED: 05/20/2010
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Surety Blog Categories:  Commercial Bonds | Surety Law Changes

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