Worker Comp test
Workers compensation rating is developed by applying a rating bureau job classification rate to each
$100 of payroll
Voluntary compensation - what is the employers application fee to department of labor?
$2000
premium discount
$5000
A premium discout is the term when an insured owes a total standard premium greater than
$5000.00
Workers compensation statutes require employers to meet to capital reserves requirement sufficient to play any claims that might arise.
Assigned risk plans, competitive state funds, and self insurance funds
If the employer in a state with elective WC laws, chooses not to be subject to state WC laws, what does the employer loose?
Common law defense against liability suits
Voluntary Compensation endorsement provides statutory coverage for
Farmworker, domestic, ag, independent contractors
Which federal act provides benefits to injured civilians who are employed by the federal government is which, Federal Employee's compensation Act or Federal Employees compensation liability Act
Federal Employee's compensation ACT - no private insurers are involved
All the following are factors in rating compensation insurance
Hazard of the work, amount of payroll, employer's prior loss experience
According the Workers compensation and employer liability policy form a state should be listed in part three - "Other States insurance of the WC&EL policy
Insured expects to extend operations to that state.
Crews of ships are covered
Jones Act
She is required to work with industrial chemicals in a plant and is diagnosed with a rare blood disease.
Occupational Disease caused by employment
Which worker comp conditions state that the first named insured will act on behalf of all insured under the policy?
Sole representative
Under the workers compensation system, who is responsible for the expenses resulting from work-related injuries and occupational disease?
The employer, regardless of whether it was at fault for the injury or disease.
In a worker's compensation policy, these things are found.
The first named insured, policy period longer than 1 yr and 16 days, all policy provisions on each annual anniversary date, the insured right and duties may not be transferred to anyone else without written consent by the insurer
Voluntary compensation endorsement in a workers comp policy provides that the insurer will pay benefits in exchange for what?
The insured person (employee) must wave the right to sue or litigation
Shipbuilders and repairers are covered by
US longshore and harbor Workers Compensation Act
Experience rating plan
adjusts the premium charges based on the claims history of the insured
According to the conditions of a workers compensation policy the insurer has the right to inspect the insured work place
at any time
Monopolistic state Workers comp is provided to all employees, but
employers liability may or may not be covered
The deposit premium
is based on an estimated payroll
Workers comp laws provide all of the following types of benefits
medical, death, rehabilitation
In order to be covered by the US Longshore and Harbor Workers Compensation Act a worker must meet the requirements of the
situs and a status test