| Show J I 4 r. f-r. r YORK o RULE RUl I Is A IN JAH CI Classifications ns and Rates for Compensation Insurance a an ance e Are Accepted by Commission and Agents Classifications and rates for compensation compensation com corn Insurance as promulgated promulgate by bythe bythe the he National Council on Workmen's Compensation Insurance New York were adopted today by the state Industrial Indus indus- trial trial be used and adoPted adopt 1 ed for the use of stock corporations and mutual associations in Utah and andare andare andare are made mad effective as of midnight midnight of June 30 1921 with a x differential for forthe forthe the he state insurance fund of 20 per cent This means that the tho rates so modified and adopted by the schedule or experience enco ence systems shall shaH be discounted 20 per per cent to arrive at the rate to be used by the state insurance fund At the meeting of the commission today oday a long preamble and resolution was vas pre presented and adopted the resolution reso- reso lution reading as follows Lot That as pertains to classifications classifications classifications to be used and rates to be charged in the business of workmen's compensation insurance in Utah all an allstock allstock stock corporations and mutual associations lons writing workmen's compensation insurance in the state of Utah shall shaU in n addition to complying with the general general general gen gen- eral insurance laws of the state be subject to and governed by the following fol- fol lowing owing an and such amendments and changes thereto as may be made from time to time or with the consent on nt and approval of the commission GIVEN APPROVAL 2nd That the classifications and rates as promulgated and published by bythe bythe the he National Council on Workmen's Compensation Insurance New York City are hereby approved and adopted for or the use of stock corporations and mutual associations in Utah and are areher her hereby by made effective as of midnight June 30 1921 with a differential fajth for forthe th the state Insurance fund of 20 per cent that that is to say the rates so adopted or modified by th the schedule and ex experience experience experience ex- ex systems hereinafter provided for shall be discounted 20 per cent to arrive at the rate to be used by the state Insurance fund 3rd That the industrial rating plan and the experience rating plan planas as is issued by the national council are hereby approved and adopted for the use uso of stock corporations mutual as associations associations associations as- as and the state insurance fund in Utah and are hereby made effective as of midnight June 30 1921 GOVERNS ALL That all an companies including including including ing the state insurance fund writing workmen's compensation insurance in Utah shall before they are entitled to use the rates arrived at by the use of the schedule and and other experiEnce experience ence rating systems become members become members of the local rating bureau hereinafter provided for The failure of any company company com corn pany to affiliate with said organization tion shall shan forfeit its right to us use any rate other than the manual rate published published published pub pub- by the council and approved by bythe bythe bythe the commission That all stock corporations mutual associations and the state in insurance insurance insurance in- in fund shall be subject to and governed by the rules and regulations of the local rating bureau when s such ch rules and regulations have been approved approved approved ap ap- ap- ap proved by the commission RATING BUREAU Be it further resolved that there shall shan be established at the earliest possible moment a local rating bu bureau bureau bureau bu- bu reau to be known as the Utah Compensation Compensation Com Com- Rating bureau in the state of Utah which bureau shall have of offices offices offices of- of in the state capitol and shall affiliate with the national council and the acts of said bureau shall shan be ef effective effective effective ef- ef upon the approval of the com corn mission The organisation of said bureau shall be effected organized governed and carried forward generally generally generally gener gener- ally along the lines as recommended at the conference of insurance companies companies com corn the commission and other ther in interested interested interested in- in parties May 27 1921 Be it further resolved that the secretary secretary sec see of the commission be and she is hereby authorized and directed to publish this resolution and give general general general gen gen- eral circulation to the same as re required required required re- re by law It was also decided by the commissio commis- commis sio a l local cal rating bureau be established and the commission will wIlT select a committee for the purpose of bringing it into existence |
