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Legal Forums » Workers Compensation Law Forum » Calculating premium rates of Workers Compensation
Started Nov 28 2012, 08:50
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Nov 28 2012, 08:50
Calculating premium rates of Workers Compensation
When calculate workers compensation premiums insurance companies think about:
if there is suitable financial support to meet the cost of claims
providing incentives for safe and sound workplaces
premiums that are reasonably priced and steady
Systems that is managerially straightforward.
Premium rates are typically calculated on the total earnings bill of an employer. The premium rate will actually depend on your organizations:
Size
industry type or rank
individual claims knowledge and record, which is generally considered for a three to almost five year period
financial situation
Position in the insurance marketplace cycle.
The condition of individual employees is not taken into explanation in these type of calculations.
jony
Contract ID#12357250
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Nov 29 2012, 06:20
A Make a decision may diminish compensation payable available for you if which in turn finds you have not employed reasonable steps to discover alternative run. This depends upon many factors using your experience and also the state inside of job market in your line relating to work. The compensation will likely be reduced by simply about full, representing your wages that you should have attained earn from the notice interval.
ID#12466719
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