SB1102 Summary

• Establishes the State Compensation Fund as a private insurance carrier subject to workers' compensation insurance requirements rather than a separate governmental entity, effective January 1, 2013.

• Creates a special fund (replacing references to the state compensation fund) to handle claims when insurance carriers fail to comply with workers' compensation law, with authority to collect reimbursement from responsible carriers.

• Makes willful misrepresentation of payroll, job descriptions, or loss history to insurance carriers a class 6 felony, with civil liability up to three times the premium difference plus damages and attorney fees.

• Removes the state compensation fund from procurement law exemptions and workers' compensation rating organization exemptions, requiring it to comply with standard insurance carrier requirements including deposit of securities.

• Repeals sections 23-1005 and 23-1006 regarding state compensation fund benefits, consolidating compensation provisions under standard workers' compensation law applicable to all carriers.