The South Dakota Division of Insurance has selected Technology Insurance Co., as the workers’ compensation assigned risk plan carrier effective Jan. 1, 2018.
Technology Insurance will service the plan for five years. A competitive bidding process was conducted to select the servicing carrier using the services of the National Council on Compensation Insurance (NCCI). NCCI’s web-based system distributes the Requests for Proposal (RFP) and receives bid responses to the RFP. The process began in May 2017 with a total of eight interested carriers.
After NCCI reviewed the final bids, the field of entrants was reduced to four. On Aug. 21, the final bid results were presented to the division. On Aug. 25, the division approved NCCI’s expert recommendation to select Technology Insurance Co. as the new servicing carrier.
The previous carrier, Riverport Insurance Company, will service all run-off business related to their previous contract.
Source: South Dakota Division of Insurance
Topics Tech Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Lawsuit Alleges TWIA Fraudulently Reduced Claim Estimates From Hurricane Beryl 
Willis Re Jumpstarts US Expansion With Buy of BMS Re, US 
Medical Firm to Build $600M Pharmaceutical Manufacturing Site in North Carolina 
Meta Stares Down Trillion-Dollar Threat as Landmark Social Media Trial Begins 
