Or. Admin. Code § 836-042-0205

Current through Register Vol. 63, No. 11, November 1, 2024

Section 836-042-0205 - Definitions

As used in OAR 836-042-0201 to 836-042-0225 unless the context requires otherwise:

(1) "Anniversary Rating Date" means the month and day that a rating plan is initially applied to a policy and each annual anniversary thereafter, unless a different date is established by the rating organization to which the insurer belongs.

(2) "Combined Experience" means the sum of workers' compensation insurance premium, claims, and payroll or other exposure measures used by an insurer to rate individual members of a group of employers. Data from all members of the group are included in the sum without further modification or adjustment.

(3) "Experience Rating" means any prospective modification of workers' compensation insurance premium based on previous workers' compensation experience data for an individual employer or a group of employers.

(4) "Group Anniversary Rating Date" means the month and day the combined experience of a group of employers is initially used to rate individual members of the group and each annual anniversary thereafter, unless a different date is established with the approval of the Insurance Commissioner.

(5) "Insurer" means any person authorized to write workers' compensation insurance in this state and includes the State Accident Insurance Fund Corporation.

(6) "Modification Factor" means the numerical result of an experience rating calculation. Insurance premiums are multiplied by this number to adjust for past experience of an employer or a group of employers.

(7) "Premium" means the contractual amount charged to an insured for insurance for a specific period of time, regardless of the timing of actual charges.

(8) "Premium Discounting" means the modification of workers' compensation insurance premium according to a rating plan used by an insurer based solely upon a gradation of expense provisions according to the amount of premium.

(9) "Rating Plan" means any set of rules and values filed with the Insurance Commissioner and used by an insurer to calculate premiums.

(10) "Retrospective Rating" means adjustment of workers' compensation insurance premium for the policies of a group of employers after the policies have expired using the combined experience from those policies according to the insurer's rating plan.

(11) "Workers' Compensation Insurance" means insurance covering the obligations of an employer arising from workers' illness or injury, whether an obligation is imposed by ORS Chapter 656, similar laws of the United States, or agreements between states.

Or. Admin. Code § 836-042-0205

IC 2-1984, f. 1-18-84, ef. 2-1-84; ID 18-1992(Temp), f. 12-21-92, cert. ef. 1-2-93; ID 10-1993, f. 10-1-93, cert. ef. 10-2-93

Stat. Auth.: ORS 731.244 & ORS 737.316

Stats. Implemented: ORS 737.316