Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Section 1 of chapter 175D of the General Laws, as appearing in the 2000 Official Edition, is hereby amended by striking out paragraph (6) and inserting in place thereof the following paragraph:-

(6) "Net direct written premiums", direct gross premiums written in the commonwealth on insurance policies to which this chapter applies, less return premiums thereon and dividends paid or credited to policy holders on such direct business. Premiums written by any insurer on policies issued to self-insurers, whether or not designated reinsurance contracts, shall be deemed net direct written premiums. For workers' compensation policies issued with deductibles under paragraph (4) of section 25A of chapter 152, net direct written premiums shall be deemed to be an amount equal to standard premium plus any applicable all risk adjustment program amounts.