Experience Rating Plan Manual for WC and EL Insurance英文学习材料

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1、ExperienceRatingPlanManualforWorkers’CompensationandEmployers’LiabilityInsuranceRule1.AExperienceratingrecognizesthedifferencesamonginsuredsbycomparingtheexperienceofindividualinsuredswiththeaverageinsuredinthesameclassificationRule1.B.1Thisplanappli

2、esonamandatorybasisfortherisksthatmeetthepremiumeligibilityrequirementsRule1.B.2PlanrulesarebasedonpolicyperiodsNOTlongerthan1yearPolicyissuedlongerthan1year+16daysdividestheperiodintotwoconsecutiveunits,towhichallrulesandproceduresapplyasifaseparat

3、epolicyhadbeenissuedRule1.C.1ExperienceusedistakenfromdatareportedaccordingtothestatisticalplanRule1.C.2PayrollorotherexposuremeasureisalsotakenfromthestatisticalplanRule1.C.3IncurredlossesusedarereportedaccordingtothestatisticalplanNolossisincluded

4、,eveniftheemployerwasn’tresponsible(exception:WTCLosses)LossamountsmaybelimitedintheexperienceratingcalculationRule1.C.5Ariskisallentitieseligibleforcombinationunderthisplan,regardlessofwhetherinsuranceisprovidedbymultiplepoliciesorcarriers.Riskscan

5、besingleentitiesormultipleentitiesqualifyingforcombinationstrdRule1.C.6The“statisticalplan”detailsthereportingrequirementsforeachinsured.The1thru3reports,aswellascorrectionstothesereports,areusedintheexperienceratingcalculationRule1.C.7Subjectpremium

6、isreportedaccordingtothestatisticalplan.Subjectpremiumdevelopedduringtheexperienceperiodisusedtodetermineeligibility.SubjectpremiumdevelopedduringthepolicyperiodismultipliedbytheexperienceratingmodificationfactorRule1.D.3Unlessotherwisestated,themodi

7、ficationissuanceandrevisionislimitedtothecurrentandthetwoprecedingexperienceratingmodificationsRule2.A.1.aEligibilityfortheplanisbasedontheamountofsubjectpremiumRule2.A.1.bSomepremiumelementsaren’tsubjecttoexperiencerating.Premiummaybechargedforthese

8、elements,butthispremiumisn’tsubjecttomodification,norisitusedtodetermineeligibility,norisitusedinthemodificationcalculationRule2.A.2Ariskqualifiesforexperienceratingwhenitssubjectpremiumdevelopedintheexperienceperiodmeets(orexceeds)theminimumeligibil