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Declaration Page or Dec Page

A Workers Compensation Term Defined, Described and Explained

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Declaration Page or Dec Page for a Workers Compensation Policy...

The declaration page is the first part of your workers compensation policy. It is the section that describes your estimated payrolls, classifications, discounts, rates and credits on your workers compensation policy. This is also where the insurance company establishes your deposit premium for the policy period.

A declaration page is company specific. While the workers comp forms making up a policy are many times very standardized the dec, declaration, pages are very specific to each individual insurance company who issues workers comp policies. The insurance declaration page will generally be broken down into sections. Typically the first section of the page will be listed or shown as Item 1 and will show information about the named insured such as their name, address and entity type. The next section may show as Item 3 and will be detail information concerning the policy itself and will include; Section A, Workers Compensation Insurance, this section will show the specific state in which the workers compensation applies; Section B, employers Liability Insurance, part two shows how this section is applied to work in each state listed in Item 3 and also shows the employers liability limits as chosen by the policyholder; Section C, Other States Insurance, lists each state in which other states coverage applies. Found within Item 4 on the workers compensation declaration sheet will be the premium calculation statement by the company, classifications, descriptions, estimated payroll, rates and estimated annual premium.

Also included on the workers comp dec sheet you will find the audit term, usually set as annual but may be another length of time, the policyholders federal ID number and its experience risk ID number as issued by the governing rate making authority for the resident state. The declaration will also show the minimum premium for the policy and all attached endorsements and policy forms.

So the workers compensation policy declaration pages include most of the factual information about the insurance policy.




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