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!
________________________________________________________________
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
________________________________________________________________________________________
Contact Us:
WORKERS COMPENSATION CONSULTANT
Voice: (931) 292-2633
Fax: (573) 447-4998
email: rks@workcompconsultant.com
Disclaimer - Privacy
Copyright © 2008-2010 Workers Comp Consultants, Inc. All rights reserved.