Experience Rating Plan Manual for WC and EL Insurance教程.pdfVIP

Experience Rating Plan Manual for Workers鈥 Compensation and Employers鈥 Liability Insurance Rule 1.A Experience rating recognizes the differences among insureds by comparing the experience of individual insureds with the average insured in the same classification Rule 1.B.1 This plan applies on a mandatory basis for the risks that meet the premium eligibility requirements Rule 1.B.2 Plan rules are based on policy periods NOT longer than 1 year 飩 Policy issued longer than 1 year + 16 days divides the period into two consecutive units, to which all rules and procedures apply as if a separate policy had been issued Rule 1.C.1 Experience used is taken from data reported according to the statistical plan Rule 1.C.2 Payroll or other exposure measure is also taken from the statistical plan Rule 1.C.3 Incurred losses used are reported according to the statistical plan 飩 No loss is included, even if the employer wasn鈥檛 responsible (exception: WTC Losses) 飩 Loss amounts may be limited in the experience rating calculation Rule 1.C.5 A risk is all entities eligible for combination under this plan, regardless of whether insurance is provided by multiple policies or carriers. Risks can be single entities or multiple entities qualifying for combination Rule 1.C.6 The 鈥渟tatistical plan鈥 details the reporting requirements for each insured. The 1st thru 3rd reports, as well as corrections to these reports, are used in the experience rating calculation Rule 1.C.7 Subject premium is reported according to the statistical plan. Subject premium developed during the experience period is used to determine eligibility. Subject premium dev