Across
- 3. an individual who is hired for a limited duration or for a specific project. These employees may be sourced through an employment agency, staffing firm, or hired directly by the employer on a temporary basis
- 7. the initial premium amount calculated by multiplying the manual rate for each class code by each $100 of payroll. This is the initial premium amount before any modification factors are applied
- 11. Standard Industrial Classification Code. A system that classifies and categorizes businesses based on their primary economic activities and are used to provide a standardized way of organizing and comparing industries. At Chubb, we use this to define the hazard grade for various lines of business
- 13. in the context of Workers’ Compensation, this refers to the legal authority or geographical area in which a specific workers’ compensation operates. Workers’ compensation laws and regulations can vary significantly between these
- 16. a factor developed by measuring the difference between the insured’s actual past experience and the expected or actual experience of the class
- 18. the premium basis used to calculate premium in workers compensation insurance and, for some classifications, in general liability insurance
- 19. workers compensation and employers’ liability insurance coverage for an insured’s employees traveling through or temporarily working in states other than the insured’s home state, as specifically listed in item 3.C of the information page of the policy
- 20. compensation provided to an employee who is temporarily or permanently unable to work due to a work-related injury or occupational illness and intended to replace a portion of the injured worker’s lost income
- 21. individuals who are hired by an employer and receive regular wages or salary in exchange for their work. These individuals work under the direction and control of the employer including both the desired outcome as well as the methods employed to achieve it
- 23. financial assistance provided to the injured worker to help them recover physically and mentally, acquire new skills if necessary, and find suitable employment after their recovery
- 26. detailed records that summarize claims filed by a business with an insurance carrier over a specific period of time. They provide a comprehensive overview of past insurance claims and serve as a valuable tool for underwriters when evaluating an entity’s risk profile
- 29. the specific classification or categorization assigned to an employer or business based on the nature of their primary business activities that carries the highest amount of payroll
- 31. an individual that provides services or performs work for another party under a contract or agreement. These individuals work independently and maintain control over the means and methods of how the work is performed
- 32. compensation provided for necessary medical treatment and care related to a work-related injury or illness
- 33. modification of manual rates either upward (debits) or downward (credits) to reflect the individual risk characteristics of the subject of insurance
Down
- 1. jurisdictions where an employer must obtain workers compensation insurance from a compulsory state fund
- 2. abnormal condition or disorder, other than one resulting from an occupational injury, that is caused by, or alleged to be caused by, exposure to environmental factors associated with employment, including acute and chronic illnesses or diseases that may be caused by inhalation, absorption, ingestion, or direct contact
- 4. The system by which no-fault statutory benefits prescribed in state law are provided by an employer to an employee (or the employee's family) due to a job-related injury (including death) resulting from an accident or occupational disease
- 5. (also known as survivor benefit) is compensation provided to the dependents or beneficiaries of an employee who dies as a result of a work-related injury or occupational disease and are meant to provide support and assistance to the surviving family members of the deceased worker
- 6. compensation provided to the surviving family members of an employee who dies due to a work-related injury or occupational disease, covering funeral burial expenses
- 8. a component of workers compensation statutes that bars employees injured on the job from making a tort liability claim against their employers
- 9. an individual who is employed by a leasing company or a professional employer organization (PEO) and is then assigned to work for another employer
- 10. a specific numerical code or classification assigned to a particular occupation or industry and are used to categorize and identify different types of employment activities for the purpose of determining workers’ compensation insurance rates and premiums
- 12. provided by part II of the workers compensation policy. It provides coverage to the insured (employer) for liability to employees for work-related bodily injury or disease, other than liability imposed on the insured by a workers compensation law
- 14. an endorsement that is primarily used to provide employers liability coverage for work-related injuries arising out of exposures in monopolistic fund states (fund workers compensation policies do not provide employers liability coverage)
- 15. a process commonly conducted by the insurance provider at the end of a policy term that involves a thorough review of the actual payroll and business operations of an employer to reconcile any discrepancies between the estimated payroll and the actual payroll to ensure the premium charged for the coverage accurately reflects the employer’s exposure to risk
- 17. a writing company other than standard writing company that will apply a factor or a percentage providing either a credit or debit to the premium
- 22. a workers compensation policy structure wherein policy holders may be eligible to receive a return of premium or dividend typically based on their loss experience
- 24. compensation to help replace a portion of an employee’s wages if they’ve suffered a work-related injury or illness
- 25. a predetermined standard rate applied to calculate the manual premium that an employer pays for workers compensation and varies by state, industry, or occupation.
- 27. National Council on Compensation Insurance. It is an independent advisory organization that provides information, data, and analysis regarding workers compensation insurance
- 28. Federal Employer Identification Number. It is a unique nine-digit identification number assigned by the Internal Revenue Service (IRS) to businesses and is used to identify businesses for various purposes including taxes and conducting financial transactions
- 30. the average cost of workers compensation claims for specific job classification. This is a crucial component in determining the premium rates for workers’ compensation insurance policies