The National Workers Compensation Reinsurance Association (NWCRA), previously known as the National Workers Compensation Reinsurance Pool (NWCRP), is a contractual reinsurance pooling mechanism among participating carriers, that provides the carriers with an arrangement to comply with the state statute and the Workers Compensation Insurance Plan (WCIP) for assigned risk business.
Effective 01-01-2010, the NWCRP became the National Workers Compensation Reinsurance Association (NWCRA).
The participating companies of the National Workers Compensation Reinsurance Pool, at a Special Meeting on December 5, 2007, authorized the organization and incorporation of the National Workers Compensation Reinsurance Association NFP (NWCRA), as a not-for-profit corporation to be responsible for the reinsurance pooling mechanism presently governed by the NWCRP Board of Governors. The NWCRA Bylaws are targeted to become effective January 1, 2010, with its Board of Directors comprised of individuals employed by NWCRA members.
The National Association operates in 22 states (as of November 2014): Alabama, Alaska, Arizona, Arkansas, Connecticut, Delaware, District of Columbia, Georgia, Idaho, Illinois, Iowa, Kansas, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, South Carolina, South Dakota, Vermont, Virginia, and West Virginia.
NWCRA is a reinsurance facility designed in large part to facilitate the operation of the many reinsurance pools which exist throughout the country. While the NWCRA provides states with certain administrative services relative to accounting functions of the Plan, premium collection and premium distribution, premiums for employers in the Plan are maintained completely separate from funds from pools which exist in other states. The exposure to claims and losses of a carrier in a member state does not increase due to the participation in the NWCRA.
The Indiana Code is available on the State of Indiana website at this address: http://www.state.in.us/legislative/ic/code/.