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Workers Compensation Insurance Premium Disputes

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Loss Sensitive Plans

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Deductible and Other Loss Sensitive Programs - Introduction

Workers’ compensation insurance premium or rating programs can be divided into two basic types: guaranteed or fixed cost and loss sensitive. A guaranteed cost program does not mean that the premium is fixed, this would be a flat premium. Rather, the premium varies according to the employer&rsq...

Posted Sunday, January 22, 2012

Deductibles: Desirability of Loss Sensitive Programs

Insurance is a risk management technique for dealing with a portion of the business risk of financial loss. The risk is not the loss itself, but rather uncertainty about its cost, i.e., whether losses will occur and in what amounts. Insurance theory holds that by buying insurance, an employer reduce...

Posted Sunday, January 22, 2012

Deductible Plans - Legal Requirements

In addition to having largely deregulated workers’ compensation pricing, the 1995 open rating regulations expressly authorize insurers to offer deductible plans whereby employers pay all or part of benefits due under the policy. Thus, in effect, the functional equivalent of partial or alternat...

Posted Sunday, January 22, 2012

Retrospective Rating

Prior to open rating (pre-1995), a California workers’ compensation retrospective rating plan was included in the premium regulations. Now, the Workers’ Compensation Insurance Rating Bureau (WCIRB) publishes an advisory retrospective rating plan. This discussion describes retrospective r...

Posted Sunday, January 22, 2012

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Levine Book Levine on California Workers Compensation Premium and Insurance

A Comprehensive Practical and Legal Guide to Premium and Insurance Issues, Strategies, and Disputes