Insurance; certificates authorizing carrying of risk without
insurance; state self-insurance program
Sec. 5. (a) Every employer who is bound by the compensation
provisions of IC 22-3-2 through IC 22-3-6, except the state, counties,
townships, cities, towns, school cities, school towns, school
townships, other municipal corporations, state institutions, state
boards, state commissions, banks, trust companies, and building and
loan associations, shall insure the payment of compensation to the
employer's employees and their dependents in the manner provided
in IC 22-3-3, or procure from the worker's compensation board a
certificate authorizing the employer to carry such risk without
insurance. While such insurance or such certificate remains in force,
the employer or those conducting the employer's business and the
employer's worker's compensation insurance carrier shall be liable to
any employee and the employee's dependents for personal injury or
death by accident arising out of and in the course of employment
only to the extent and in the manner specified in IC 22-3-2 through
IC 22-3-6.
(b) The state may not purchase worker's compensation insurance.
The state may establish a program of self-insurance to cover its
liability under this article. The state may administer its program of
self-insurance or may contract with any private agency, business
firm, limited liability company, or corporation to administer any part
of the program. The state department of insurance may, in the
manner prescribed by IC 4-22-2, adopt the rules necessary to
implement the state's program of self-insurance.
(Formerly: Acts 1929, c.172, s.5; Acts 1961, c.187, s.1; Acts 1974,
P.L.108, SEC.3.) As amended by P.L.28-1983, SEC.56; P.L.28-1988,
SEC.22; P.L.8-1993, SEC.279.
Last modified: May 27, 2006