62-5-18. Reduction of premium where employer selects a policy with a deductible.
Any employer may agree, as a condition of the employer's contract for the insurance of compensation and benefits as provided in Title 62, to pay an amount specified in the contract per claim toward the total amount of any claim payable under workers' compensation. The amount of premium to be paid by an employer who selects a policy with a deductible shall be reduced based upon a rating schedule or rating plan filed with and approved by the director of insurance. Administration of claims shall remain with the insurer as provided in the terms and conditions of its policy.
Source: SL 1990, ch 418, §1; SL 1991, ch 421, §1; SL 2008, ch 278, §39.
Structure South Dakota Codified Laws
Title 62 - Workers' Compensation
Chapter 05 - Insurance And Security For Payments
Section 62-5-1 - Methods of securing payment of compensation.
Section 62-5-2 - Obtaining workers' compensation insurance.
Section 62-5-6 - Exemption of political subdivisions from security provisions.
Section 62-5-7 - Failure to secure payment as election not to operate under title.
Section 62-5-8 - Commission for placing insurance limited.
Section 62-5-9 - Issuance of policy to employer--Certification to department.
Section 62-5-10 - Surety for performance required for self-insurers--Irrevocable trust.
Section 62-5-11 - Requirements for acceptance of irrevocable letter of credit--Definitions.
Section 62-5-12 - Deposit of surety bonds, letters of credit, etc.
Section 62-5-13 - Deposit of certificate of deposit or government securities.
Section 62-5-14 - Deposit and withdrawal of cash.
Section 62-5-15 - Perfected security interest in deposit--Release of security interest.
Section 62-5-16 - Claims administration contracts.
Section 62-5-18 - Reduction of premium where employer selects a policy with a deductible.
Section 62-5-19 - Deductible does not affect reporting requirements.
Section 62-5-20 - Insurer to pay entire loss--Employer to reimburse deductible amount.
Section 62-5-21 - Provision of medical services and health care.