Who Is First Named Insured On The Policy?
Term Of The Day – First Named Insured The entity or person named first on the dec page of the policy. The first named insured
November 29, 2010 No Comments
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Term Of The Day – First Named Insured The entity or person named first on the dec page of the policy. The first named insured
Term Of The Day – ALAE ALAE is the acronym for Allocated Loss Adjustment Expense . In Workers Compensation, there are three areas of reserves and loss
Deductible Plan – Workers Comp Term A Deductible Plan for Workers Comp comes in two basic sizes. The insurer retains all the claims handling responsibilities
Competitive State Funds Still Exist Across The US – Updated 2019 Facilities that are state owned and operated that directly compete with commercial carriers. The
Binder – Term Of The Day A binder can be used in WC, but is not recommended. A temporary but legal agreement that provides proof
Workers Comp Is A Time Bomb A time bomb may go off soon in Workers Comp. The post title has hit the Workers Comp airwaves
Where Did The Money Go – Subrogation Bleeds Work Comp Funds Where did the money go with your subrogation? I have posted on this subject
Agents Errors And Omissions Insurance Is A Necessary Coverage The agents errors and omissions insurance is very necessary in today’s marketplace. Errors and Omissions Insurance
The 0% Rate Increase Is Not Recommended for California Once again, California’s Insurance Commissioner has rejected the 27.7% recommended rate increase by the California’s Workers
Additional Insured-Workers Comp Term One of the most common additional insured is a subcontractor. The subcontractor may not have the proper insurance. The main contractor
Term Of The Day – Interstate Rating An Interstate rating cover a an experience modification factor across more than one state. These ratings are calculated
Workers Comp Reserve Reduction Program I was going to construct a chart on when your company’s Workers Comp reserve reduction program would need to begin
Term Of The Day – Loss Reserve Stability An actuary’s ability to project Workers Compensation loss reserve or pricing in the future is based upon numerous
File Reviews – A Big December Time Waster To Avoid Most file reviews in December are time wasters for all the involved parties. The largest
Term Of The Day – Monopolistic State Funds Monopolistic state funds used to be rather numerous in the United States. The number of monopolistic carriers
Introducing Our New CompScreen Safety Program Our CompScreen(c) Safety Program is added to our expanding services. J&L Risk Management Consultants, Inc. is proud to introduce
Term Of The Day – Qualitative Claim Auditing Qualitative Claim Auditing refers to a review of claim files to explore the level of claims handling
Term Of The Day – Seasonal Risk A seasonal risk for Workers Compensation is when the workers are hired to work only certain times of
Third Party Administrator (TPA) Is Not An Insurance Carrier A firm hired to handle Workers Compensation claims by contract. Third Party Administrator (TPA) usually work
Workers Comp Safety Programs – One Of The Big Justification Secrets Most workers comp safety programs have been reduced or cut back to a minimum. As
Term Of The Day – Agent of Record An Agent of Record (AOR) is an individual/legal entity having a properly executed contract with an insurance
Safety Program Lowers E-Mods By Eliminating Accidents A safety program will always be the quickest way to lower E-Mods. Recently, the subject of E-Mod/X-Mods surfaced
Term Of The Day – Underwriter An underwriter works under the radar most of the time. In the broadest sense, an underwriter is the person
D-Ratio Is Associated With Each Class Code D-Ratio is also known as the discount ratio. NCCI or your State Rating Bureau uses the discount ratio
Term Of The Day – Broker A Broker and an Agent are not the same thing. An agent is an insurance company’s representative by way
Certificate of Insurance-Workers Comp Term A Certificate of Insurance is the document provided by the insurer with evidence that the employer has Workers Comp Insurance
Protected Cell Captives In my last blog post, I covered Protected Cell Captives under the Rent-A- Captive heading. I used to think this type of
Risk Avoidance-Workers Comp Term In Workers Comp the term risk avoidance refers to one of the most obvious way to reduce risk to the economy
Rent-A-Captives Types Rent-A-Captives are becoming more popular in Workers Comp as a method of risk transfer. Rent-A-Captives used to be viewed as hybrid arrangements that
Adjudication – Workers Comp Determination The Workers Comp term Adjudication is the process in which a judge examines the evidence, arguments and legal argument brought
Captive Insurance Arrangements I have not posted on captive insurance arrangements for many months. The last time I posted was when the IRS surprised me
Term Of The Day – Indemnity Benefits The term refers to the amount paid out due to a loss or damage. In Workers Comp, Indemnity
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