SECTION 810:25-9-8. Excess insurance

  The Commission may require an individual own risk employer to provide proof of excess coverage with such terms and conditions as is commensurate with the employer's ability to pay the benefits required by the provisions of the AWCA. Such excess insurance must be from an admitted or surplus lines insurer with an AM Best Rating of B+ or better. The self insured retention must be approved by the Commission, and the excess carrier's limits of liability must be statutory. An amount less than statutory limits must be approved in advance by the Commission. Aggregate excess insurance may be required by the Commission if necessary.

[Source: Added at 31 Ok Reg 497, eff 2-4-14 (emergency); Added at 32 Ok Reg 1493, eff 8-27-15]