SB21-285 Summary

• Removes the requirement that occupational accident insurance for independent contractors provide benefits "at least comparable to the benefits offered under the workers' compensation system"

• Allows occupational accident insurance policies to meet or exceed Division of Insurance standards without mandating equivalence to workers' compensation benefits

• Applies to independent contractors of common carriers and contract carriers in the transportation industry, particularly owner-operators of trucking businesses

• Takes effect 90 days after final adjournment of the general assembly, subject to voter approval at the November 2022 general election if a referendum petition is filed

• Applies only to insurance specifications filed with the Division of Insurance on or after the effective date