Permit Renewal
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THIRD PARTY ADMINISTRATORS

The TPA must: (1) Have adequate personnel on staff to handle the volume and type of work. The TPA may subcontract for services not provided by the TPA, but requested from the self-insurer; (2) Be financially solvent, and must report its financial statements on an annual basis to the Commission in an approved form and manner; (3) Maintain an adequate Errors and Omissions policy; (4) Maintain an adequate Fidelity Bond; (5) Establish claims reserves at the most likely outcome. Best case reserving is not allowed. (6) Retain its independence when setting claim reserves. The TPA shall not let the self-insurer influence the amount of the reserve or the closing of a claim; (7) Maintain an Oklahoma office, if handling a group self-insurance association program;
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INDIVIDUAL OWN RISK

The Individual Own Risk Application is for EMPLOYERS ONLY wishing to self-insure. INDEPENDENT CONTRACTORS and others who are exempt should file the Affidavit of Exempt Status (CC-Form-36A).
Employers wishing to self-insure are required by Commission rule to have at least One Million Dollars ($1,000,000) in net assets and at least one hundred (100) employees.
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GROUP OWN RISK

Two or more employers having a common interest, as defined in Section 810:25-1-2.
(1) The solvency of each member of the association; (2) The financial ability of each employer to meet its obligations as a member; (3) The ability of the association to pay or cause to be paid the compensation in the amount and manner and when due as provided in the AWCA; (4) A minimum collective net worth of the members of at least Two Million Dollars ($2,000,000.00);