Sec. 1. 24-A MRSA §2385-B, as enacted by PL 1991, c. 885, Pt. B, §12 and affected by §13, is amended to read:

§2385-B. Disclosure of premium information

All policies issued to employers for workers' compensation insurance must disclose clearly to the employer as separate figures the base rate, and the employer's experience modification factor for each year included in the formula pursuant to section 2382-D, the medical, indemnity and administrative portions of the premium and the portion of the premium attributable to the workplace health and safety consultation services.

When a policy is issued to employers for workers' compensation insurance, it must be accompanied by a statement disclosing the percentages of premium expended during the previous year by the insurer for claims paid, loss control and other administrative costs, medical provider expenses, insurer and employee attorney's fees and private investigation costs.

SUMMARY

This bill eliminates the requirement that workers' compensation insurers include detailed cost information with workers' compensation policies. The information is available upon request.