Revises provisions relating to industrial insurance. (BDR 53-594)

Changed the lien calculation to apply only to 'economic damages' (medical treatment, care, custody, loss of earnings, and loss of earning capacity) instead of the total amount recovered from a third party.

Added a cap limiting the insurer's lien recovery to the lesser of the full lien amount or one-third of the total recovery amount, inclusive of attorney fees and costs.

Required the lien amount to be reduced by 50% of the reasonable expenses the employee incurred to procure the recovery, verified by a certified public accountant.

Removed the requirement for injured employees to notify the industrial insurer before initiating certain legal proceedings.

Prohibited industrial insurers from initiating proceedings against third parties unless the injured employee has not already initiated such action within one year of the injury.

The calculation for the maximum lien amount now explicitly reduces both the lien amount and the recovery amount by half of the reasonable costs incurred by the injured employee before applying the one-third limit.

The verification method for reasonable costs was changed from requiring a certified public accountant to allowing verification by the injured employee, their dependents, or their attorney.

The reprint date was updated from April 21, 2025 to May 15, 2025, and the official title reference was updated from SB258_R1 to SB258_R2.

The definition of the Administrator was clarified to include the Division of Industrial Relations of the Department of Business and Industry.