The bureau does not file an advisory policy surcharge factor with the Department of Insurance. Each carrier must calculate and apply its own factor to its policies. For assigned risk policies, servicing carriers should use the 0.0066 factor. Carriers must complete a certification form and send with its payment to the Workers' Compensation Board. The bureau pointed out that the carrier must show the assessment on policies. The surcharge is not premium, so the amount must be excluded for purposes of agent commission and premium taxes.
Read more at the WorkersComp Forum homepage.
February 6, 2012
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