ND HB1223

Creates a new chapter to title 65 of the North Dakota Century Code allowing employers to secure workers' compensation coverage through either the state fund or private insurance carriers.

Defines "carrier-insured employer" as an employer providing workers' compensation coverage through a guaranty contract insurer authorized under title 26.1.

Requires private insurers to be authorized by the insurance commissioner and provide coverage that meets or exceeds the coverage required under North Dakota law.

Mandates carrier-insured employers file proof of insurance with the insurance department and allows the department to suspend or revoke an insurer's authorization for non-compliance.

Directs the insurance department to adopt rules governing proof of insurance requirements, contract expiration and cancellation procedures, and revocation of carrier-insured employer authorization.