Pool
Carrier History
A servicing carrier is a designated
member company of the Pool which issues policies and
provides services to assigned employers in return for a
servicing carrier fee paid by the Pool.
The WCRIB may recommend the designation
of one or more insurers as servicing carriers to issue
policies of insurance to employers qualified for coverage
under Chapter 152, Section 65A of the Massachusetts General
Laws, as amended, subject to the approval of the
Commissioner.
The servicing carrier shall continue as a
servicing carrier for subsequent years, unless it gives the
Commissioner ninety (90) days advance written notice of its
intention to resign as a servicing carrier, or unless such
designation is rescinded by the Commissioner. The
designation may also be rescinded for cause by the WCRIB,
subject to the approval of the Commissioner.
Any member of the Pool may apply to the Pool for servicing
carrier designation provided the member company:
-
has been writing workers' compensation insurance in the
Commonwealth of Massachusetts during at least the five
(5) years immediately preceding the request to be
designated a servicing carrier;
-
has and maintains a record of financial stability and
strength;
-
has and maintains, at a minimum, a workers' compensation
voluntary market share of 1% in the Commonwealth of
Massachusetts; and
-
has and maintains the capacity to conform to the
Performance Standards for Servicing Carriers set forth
in the Pool Plan of Operation.
A servicing carrier's failure to maintain
eligibility shall be considered cause for rescinding its
designation as servicing carrier.