Compensation in lieu of insurance, how provided
An employer can set up their own injury benefits plan for workers instead of using the standard workers' compensation system. A government director has to approve the plan first, and it must give workers at least as good of benefits as the regular system does. The director can also shut the plan down if it is not run fairly, is running out of money, or is not working the way it should.
287.370. insurance, how provided. — Any employer or group of employers may enter into or continue any agreement with his or their employees to provide a system of or insurance in lieu of the compensation and insurance provided by this chapter. Such and insurance shall be subject to the approval of the and shall not be approved by him unless they confer benefits upon injured employees or their at least equivalent to the benefits provided by this chapter, nor if they require from employees, unless they confer benefits in addition to those provided under this chapter at least commensurate with such . Appeals shall lie to the from any decision, or made by or under such substitute system. Such substitute system and insurance may be terminated by the director of the department of commerce and insurance on reasonable notice and to the , if it shall appear that the same is not fairly administered, or if its operation shall disclose threatening its or if for any other substantial reason it fails to accomplish the purposes of this chapter; and in this case the director of the department of commerce and insurance shall determine upon the proper distribution of all remaining , if any, subject to the right of any to have such reviewed by a .
(RSMo 1939 § 3721)
Prior revision: 1929 § 3331
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