Articles of Agreement in WCIP
The Articles of Agreement are included in the Workers Compensation Insurance Plan (WCIP).;
The Articles of Agreement are included in the Workers Compensation Insurance Plan (WCIP). The WCIP is better known as the "assigned risk" plan. The Articles were purposely incorporated into the Plan under Item Filing W-8014, "Restructured WCIP" effective in Indiana February 1, 1993. Filing W-8014 represented the Plan in effect in Indiana through December 31, 2004. (Note: As of January 1, 2005 the new Indiana Pool Articles of Administration replaced the WCIP under the National Workers Compensation Reinsurance Pool).
The W-8014 filing also directed that the restructured Plan (including the Articles) be printed in the Basic Manual. The full text of the Articles currently appears in the NCCI Basic Manual Indiana Workers Compensation Insurance Plan of Operation for the Indiana Assigned Risk Reinsurance, also available on the NCCI website. There are twelve articles to the agreement.
Quoting from the filing memorandum: "Perhaps one of the most significant changes is the incorporation of the Articles of Agreement into the Plan. This expressly subjects the Articles and the reinsurance mechanism it creates to regulatory approval and oversight and brings together the separate elements of the residual market into a single regulated mechanism."
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