Current through 2024-46, November 13, 2024
Section 031-450-10 - TransitionA. Effective date of amendments. The 2007 amendments to this Rule shall be effective on March 26, 2007, and, except as provided in Subsections B and C, shall apply to all policies issued, renewed, or subject to revised experience modification factors on or after the effective date.B. Transition period. Between the effective date of the 2007 amendments and January 1, 2008, a rate, rule, or form filing submitted by insurers and advisory organizations is not in violation of any applicable provision of this Rule if the filing instead complies with the comparable provision of the prior version of the Rule. A policy issued or renewed before January 1, 2008 or an experience modification factor promulgated before January 1, 2008 is in compliance with this Rule to the extent that it complies with a filing properly approved pursuant to this Subsection or pursuant to the prior version of this Rule.C.Subsequent injury claims. Section 6 shall apply to the reporting of all subsequent-injury claims whose first report under the unit statistical plan is due on or after January 1, 2009. The designated advisory organization shall include a brief description of the change in the experience modification calculation with all experience rating worksheets with effective dates between January 1 and December 31, 2009, explaining that claims for which reports are due on or after January 1, 2009 shall be excluded when they are attributable to lost time work-related injuries that aggravate or combine with prior lost-time work-related injuries to produce incapacity. Before July 1, 2008, the designated advisory organization shall file revised experience rating plan rules and reporting instructions with the Superintendent for the implementation of Section 6. The Superintendent may postpone the effective date of Section 6 upon a finding that the necessary framework for fair and effective implementation will not be in place in time, or that there is significant risk that insurers will not be equitably compensated. 02-031 C.M.R. ch. 450, § 10