WCC

Workers Compensation Consultants "We correct premium errors for all employers"

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This glossary of workers compensation terms and definitions is provided to better help you understand the language of workers compensation insurance. You'll find that many of these terms refers to special pages found within our website and that they provide not only a workable definition but many times examples and practical applications of when and where you'll find these terms being used. These definitions of workers comp terms are provided not only for employers and business owners but also those insurance agents, auditors and other insurance professionals who work within the workers compensation arena. Please visit back often, this is a section of our site that is constantly being updated!

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Advisory Organization

All States Coverage

ARAP - Assigned Risk Adjustment Program

Assigned Risk Plan (The Pool)

Agent

Anniversary Rating Date

Anniversary Rating Date Endorsement

Assigned Risk Premium Differential Endorsement

Audit

Audited Workers Compensation Premium

Auditor

Basic Premium

Broker

Cancellation

Carrier, Insurance Carrier, Insurance Company

Certificate of Insurance

Classification Code

Competitive State Fund

Contingent Experience Rating Modification Factor Endorsement

Contractors Premium Adjustment Credits

Credit Modifier

"D" Ratio

Debit Modifier

Declaration Page

Deductible

Small Deductible Workers Compensation Plan

Direct Writer

Dividend Plan

Effective Date

Expected Loss Ratio

Employee

Employee Leasing

Employers Liability Endorsement

Endorsement

Entity

Estimated Annual Premium

Excess Losses

Expected Losses

Expense Constant

Experience Period

Experience Rating Form

Experience Modification Factor (E-Mod)

Experience Rating Modification Factor Endorsement

Experience Rating Plan

General Contractor

Ghost Policy

Governing Classification

Guaranteed Cost Plan

Incurred Losses

Independent Contractor

Inspection Process

Interstate Experience Modification

Interstate Experience Rating

JUA Joint Underwriting Association

Large Deductible Plan

Loss Sensitive Plan

Manual Premium

Merit Rating

Minimum Premium

Manual Rate

Modified Premium

Monopolistic States

Monopolistic State Fund

NCCI - National Council on Compensation Insurance

NCCI Inspection Process

Overtime

Owner-Controlled Insurance Program

Paid Loss Retrospective Plan

Part One of Workers Comp Policy

Part Two of Workers Comp Policy

Part Three of Workers Comp Policy

Payroll

Payroll Audit

Pending Rate Change Endorsement

Policy Period Endorsement

Premium Discount Endorsement

Premium Modifier

Rate Change Endorsement

Rating Bureau

Remuneration and Payroll

Retention Plan

Risk Classification

Second Injury Fund

Self Insurance

Site Inspection

Standard Exceptions

Standard Premium

State Fund

Subcontractor

Unexpected Audit Bill

Workers Comp Premium Refund Review

Workers Compensation Insurance