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Find out about Assessments

The SITF is funded by assessments paid by self-insured employers and insurance carriers.  As stated in O.C.G.A. 34-9-358: Each insurer and self-insurer ... make payments to the fund in an amount equal to that proportion of 175% of the total disbursement made from the fund during the preceding calendar year less the amount of the net assets in the fund as of December 31 of the preceding calendar year which the total workers' compensation claims paid by the insurer or self-insurer bears to the total workers' compensation claims paid by all insurers and self-insurers during the preceding calendar year.

The SITF receives data documenting the total amount of workers' compensation claims paid (also called Claims Loss Report) in Georgia from all insurers and self-insured employers. The deadline to receive this data is March 1st of each year. Companies incur penalties for late reporting and/or late receipt of the mandatory report. 

 Assessment formula: Total SITF calendar year disbursements multiplied by 175%, (minus SITF net assets as of December 31) - equals the Assessment (the amount SITF needs to fund reimbursements). The Assessment total is divided by the total of Claims Losses - this provides the assessment "rate". Each insurer and self-insurer is assessed by the same rate; the variance is the total Claims Losses reported.

See SITF Rules: 622-1-.03(2) and 622-1-.03(3) for more information.  Additionally, the assessments due from each insurer/self-insurer is published in the Annual Report.