{"data":{"id":"us-ct/conn.-gen.-stat.-38a-1016","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 38a-1016","heading":"Premium payment plan required. Loss reserves. Bad debt reserves.","body":"(a) Each group shall establish to the satisfaction of the commissioner a premium payment plan which shall include: (1) An initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year; and (2) payment of the balance of each member's annual premium in monthly or quarterly installments.\n(b) Each group shall establish and maintain actuarially appropriate loss reserves which shall include reserves for: (1) Known claims and any associated expenses; and (2) Claims incurred but not reported and any associated expenses.\n(c) Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups or such other data as the commissioner may determine.","path":["TITLE 38a. INSURANCE","CHAPTER 706. PRIVATE EMPLOYER WORKERS' COMPENSATION GROUP SELF-INSURANCE"],"source_url":"https://www.cga.ct.gov/current/pub/chap_706.htm#sec_38a-1016","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:13Z","sha256":"91e74ed256d10818a5450d18240fc6caccf4abca2d7d5b0544d68b7eda9edb82","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-38a-1015","next":"us-ct/conn.-gen.-stat.-38a-1017"},"notice":"GroundRules: Original legal text. Not legal advice."}