Comment 1

Rulemaking Hearing Rules Of the Department of Commerce and Insurance Division of Insurance Chapter 0780-1-83 Self-Insured Workers’ Compensation Single Employers Public Comments and Responses By the Commissioner of Commerce and Insurance Compiled Pursuant to Tenn. Code Ann. § 4-5-222 On December 17, 2004, a rulemaking hearing was held by Larry C. Knight, Jr., Assistant Commissioner for Insurance and John F. Morris, Chief Counsel for Insurance, by designation of Paula A. Flowers, Commissioner, at the offices of the Department of Commerce and Insurance. This hearing, conducted pursuant to the requirements of the Uniform Administrative Procedures Act, Tenn. Code Ann. § 4-5-101 et seq., allowed the Commissioner of Commerce and Insurance and her designees to hear public comments and responses to the proposed rule. The rule is being promulgated pursuant to Tenn. Code Ann. § 50-6-405(b). The Commissioner solicited comments from the public by causing notice of the hearing to be published in accordance with the requirements of Tenn. Code Ann. § 4-5-203. The Commissioner received oral and written comments at the rulemaking hearing. Comment 1 Rule 0780-1-83-.08 Reporting Requirements It was commented that subsection (1)(a) of this Rule requiring an employer to file independently audited financial statements according to Generally Accepted Auditing Standards of the American Institute of Certified Public Accountants goes beyond what is ...