Any insurer writing workers' compensation in this state shall provide an appropriate reduction in premium, as determined by the insurer, to its insureds that due to size do not qualify for experience rating and who have not incurred liability for indemnity compensation or for medical losses exceeding an amount to be determined by the insurer subject to approval by the director for the past three years. Further, any insured that due to size does not qualify for experience rating and who has incurred liability for indemnity compensation or for medical losses exceeding an amount to be determined by the insurer subject to approval by the director during the past three years is subject to an appropriate increase in premium as determined by the insurer.
S.D. Codified Laws § 58-20-22
Premium reductions and premium increases for certain insurers
Applied in 1 court decision — leading case Kassube v. Dakota Logging (2005)
Most recently applied in Kassube v. Dakota Logging (October 2005)
Source: SL 1992, ch 364, § 9; SL 1993, ch 362, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.