Section 408.42. Application for specific risk insurance policy to cover specified construction site.

An applicant may make written application to the bureau of workers’ disability compensation for permission to obtain a specific risk insurance policy to cover all employers on a specified  construction site where the cost of construction will be  more  than  $65,000,000.00   and  the contemplated completion period will be 5 years

or less. The application shall give sufficient detail to specify the location of the proposed construction site, a breakdown of the total cost, and the contemplated completion period for the construction. After considering the application and all supportive data, the bureau shall either grant approval or advise the owner of the requirements to be met before approval is granted. The applicant shall be given 30 days from the receipt of the bureau’s notice in which to comply with the requirements of the bureau. The approval for a specific risk policy is not effective until the bureau has received proof that all requirements of the bureau for issuance of a specific risk policy to cover a specified construction site have been met. The applicant, at the discretion  of   the director, may be granted additional time to meet the requirements for approval of a specific risk policy. A request for an extension of time shall be made in writing within the 30-day compliance period. If the bureau does not receive proof that all requirements for the approval of a specific risk policy for a specified construction site  have  been  met within the time prescribed, then the application shall be considered withdrawn.

History: 1979 AC; 1980 AACS; 1998-2000 AACS.