Laserfiche WebLink
<br />WORKERS' COMPENSATION. EXCESS INSURANCE OPTIONS <br />Attachment "A" <br /> <br />~ <br />~ <br />I <br />~f.<¡ ;:':~'" '/.1~\:'.>'" <br />Commercial Market: <br /> <br /> <br />"1 .. <br /> <br />Assessments/Dividends <br /> <br />Funding decisions are made on a <br />bottom line basis: <br />All years considered on <br />a combined basis <br />Good years offset bad <br />years reducing the need <br />for assessments <br />Assessments/Dividends <br />allocated on 10 open <br />years <br />Based on each members <br />% of premium in 10year <br />period <br />Allow members to close <br />out liability for <br />assessment <br />Must be in program <br />when dividends are <br />declared <br />No dividends if <br />participation is less than <br />3 years <br /> <br />Funding decisions are made <br />annually <br />All years considered <br />Dividends and <br />assessments are <br />given to all members <br />who participated in <br />that year whether <br />currently active or not <br />Historically good <br />years have been used <br />to offset bad years <br />Dividends will only be <br />given when all years <br />are at 90% <br />confidence levels <br />Assessments are <br />declared if individual <br />years funding is below <br />expected <br />Assessments are <br />spread over three <br />years and reviewed <br />annually <br />Assessments are <br />based on each <br />members % of <br />premium in given year <br /> <br />Assessments can be declared <br />at any time depending on <br />program developments. <br />Assessments are based on <br />program year of participation. <br /> <br />No assessments or dividends <br /> <br />Assessments are based on <br />actuarial projections and voted <br />upon by the Board. BCJPIA <br />has never had an assessment <br />in the Liability Program. <br /> <br />Dividends are also based on <br />program year of participation. <br /> <br />'I!!, <br /> <br />2 <br /> <br /> <br />/. <br />