Texas Workers Compensation Self-Insurance Group (SIG) Termination of Certificate of Approval Checklist is used when an employer chooses to terminate their self-insurance program and return to the traditional commercial insurance market. This checklist includes the steps needed to complete the termination process and ensure compliance with the Texas Workers' Compensation Act. The Checklist includes four types of termination: 1. Voluntary Termination: This type of termination is initiated by the employer and requires the employer to submit an application to the Texas Department of Insurance (TDI) for approval. The employer must also submit a final report of all active and closed claims, refund all unearned premiums, and provide proof of payment of any outstanding liability balances. 2. Involuntary Termination: This type of termination is initiated by TDI if the employer fails to meet the requirements for maintaining self-insurance. The employer must submit a termination report and refund all unearned premiums. 3. Reinstatement of Certificate of Approval: This type of termination is initiated by the employer and requires the employer to reapply for a Certificate of Approval. The employer must submit a new application and meet all the requirements for self-insurance. 4. Surrender of Certificate of Approval: This type of termination is initiated by the employer and requires the employer to surrender the Certificate of Approval. The employer must submit a termination report and refund all unearned premiums. Each type of termination requires the employer to submit specific forms and documents to the TDI. The employer must also follow certain procedures to properly complete the termination process.
Texas Workers Compensation Self-Insurance Group (SIG) Termination of Certificate of Approval Checklist
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