AG 1994 03 21 - Laserfiche WebLink

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LOeT~ I HECON'rROL PO 2 (4) · Gaston county use General Reinsurance, who usgs Employers Reinsurance. Genesis is ~he ~la~m handling branch of General Reinsurance. The excess insurance, as proposed~ would be purchased through General Reinsurance, Lost Time Control is must familiar with the claim reporting requirements of this organita~ion. When a claim occurs, what are the financial responsibilities of Cebarrus County and what would be ~overed under the proposed self insurance plan. Cabarrus County would be responsible for all reasonable add necessary medical expenses, expenses for retraining, disability ratings as well es a lost wage benefit. The current maxim~.~m lost wage benefit is $464.00 per week, this e~a=ee to $24,128.00 per year. Under North Carolina law, lost wage bene£its can be payable fo= life. However, the vast ma~urity of claims are of short duration. Under the proposed plan of self ineur~nce, Caharrus county would be responsible for *:he £Lrst $950,000.00 O£ an accident. After that the excess coverage would apply, General Reinsurance woulO aes-~e responsibility for up to $5,000,000.00 on a workers Compensation claim a~d $2,000,000.00 on an Employers Liability claim. Addi=ional~y~ there is a $5,000,000.00 limit for a combined Workers Compensation and Employers L~abill~y Loss. The proposed plan goes further, as a part of the excess Gov~rage a special endorsement is puro~sse~ whio/% ~ur=her limits the payout in any one year for any accident. The County w~ll still'be responsible for $250,000.00 per accident, however t~is program limits ~he first year medical payout to approximately $90,000.00, the second year to approximately $90,000.00 a~d ~hs third to approximately $60,000.00. Thus the maximum payout on an accident in t~e first year would be $90,000.00 medical and $24,128.00 lost wage, $114,128.00 total. (approximately). It should be no~sd, few employse~ receive the maximum $464.00 benefit. In order to receive this leYel of benefit, the annual wage would have to be approximately ~6,192.00. Should the claim exceed the $5,000,000.00 excess the claim would revert ~o Caburrus county. A limit greater than $5,000,000.00 can be purchased, but the cos~ iS ~ubstantial. (§). It is reported a letter was sent to Cumberland County indicat%ng they could not be a part of the COUnty Co:%m~sszoners Association, please explain.