Understand what a residence employee is within the scope of workers compensation. Learn about the roles and responsibilities of individuals employed to perform household services.
Discover what a payroll audit entails in the context of liability insurance and workers compensation. Learn about the examination process conducted by insurance company representatives to determine the premium due for the most recent policy year.
Learn about the D Ratio in Workers Compensation insurance, a crucial metric comparing losses under $2,000 and the discounted value of larger losses to expected total losses for experience ratings.
Understand the concept of Governing Classification in Workers Compensation, a critical aspect that designates the classification based on the highest amount of payroll within a company.
Learn about Second Injury Fund, a state-established resource aiding partially disabled employees who sustain subsequent injuries, promoting hiring of handicapped or disabled workers.
Explore the concept of standard exception in workers compensation, where specific employees or classes are rated separately from the standard classification of a risk.
Learn about temporary partial disability, a short-term circumstance where an individual is temporarily unable to perform their usual duties but can work in some capacity until full recovery.
Explore the concept of 24-hour care coverage which combines work-related and non-work-related benefits to offer continuous protection for illnesses and injuries.
Learn about expense constants in general insurance terms. Discover why these charges are added to premiums, especially in workers' compensation policies.
Understand the concept of a minimum retrospective premium in liability insurance and workers compensation, which is the smallest amount payable by the insured under a retrospective rating plan.
Learn about Permanent Partial Disability, a condition where the insured is impaired but not totally incapacitated, enabling them to work in some capacity. Essential for understanding Health Insurance and Workers Compensation.
Gain insight into the Loss Development Factor (LDF) used in Workers Compensation. Learn how LDF helps insurers manage extra funds for late-reported claims and the development of losses.
Learn about premium discounts in general insurance, including how policyholders benefit by paying premiums in advance and the impact on workers' compensation or general liability policies.
Discover how the statewide average weekly wage impacts workers compensation. Learn why it is updated regularly and how it helps to determine benefit amounts.
Explore Voluntary Compensation Insurance, a type of coverage providing benefits where traditional workers compensation may not apply. Learn how it fills coverage gaps.
Learn about non-occupational policies in health insurance, which exclude coverage for work-related injuries but are supplemented by workers' compensation.
Learn about Employer’s Liability Coverage under Workers Compensation, part B of standard policies, which covers an employer's common law liability for employee injuries.
Learn about the Federal Employee’s Compensation Act, which mandates workers compensation benefits for civilians working for the federal government, operated by the government without involving insurers.
Learn about the significance of an intermediate report in health insurance and workers' compensation. This key document provides updates on the condition of individuals with ongoing disabilities.
Learn about the maximum retrospective premium, a crucial component in liability and workers' compensation insurance. Understand how this concept affects your insurance premiums and financial planning.
Learn the meaning and importance of the term Not Otherwise Classified (NOC) in liability insurance and workers compensation. Discover how it applies when insured parties cannot be otherwise classified.
Learn about the standard premium in liability insurance and workers compensation. Understand how it is calculated based on the insured’s payroll and its significance in determining premiums.
Learn about the average weekly wage, how it is calculated, and its significance in determining workers compensation benefits.
Learn about Loss Limitation in Workers Compensation and how it functions within retrospective rating formulas to limit catastrophic losses.
Learn about Workers Compensation Catastrophe Policies in reinsurance, a critical excess of loss coverage that primary insurers use to safeguard against unlimited medical and compensation liability.
