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: On and after January 1, 2016, each insurer and self-insurer ... make payments to the fund in an amount equal to that proportion of  $100 million 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 but not to exceed $100 million.

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.