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2012 TICF ASSESSMENT PROGRAM
DEFINITIONS OF COMMONLY USED TERMS
This term is synonymous with renewal date and inception date. It is the date that a workers’ compensation policy begins. A policy may incept (begin) or renew on any day of the year.
EXPERIENCE MODIFICATION RATING:
This term is most often abbreviated to ex-mod or x-mod. The x-mod is expressed as a percentage and, for the most part, reflects the ratio of an employer’s incurred vs. expected losses over a (generally speaking) three-year period. Payroll from that time frame is also used in the calculation. For 2012, the Division is assessing employers with higher than average (125% or greater) 2011 policy year x-mods. The three-year loss history covers the 2007, 2008 and 2009 policy periods.
LOSS HISTORY USED to CALCULATE 2011 X-MOD:
Generally speaking, the WCIRB used workers’ compensation loss (claim) data from the 2007, 2008 and 2009 policy years. There are a few cases when less loss history (fewer than three years) or more loss history (greater than three years) is used.
2011 POLICY YEAR:
This is the time period when your policy incepts sometime in 2011 (it can be any day in 20011) through its duration (expiration)--usually one year. It should not be confused with the 2011 Calendar Year unless an employer’s policy runs from January 1, 2011 through December 31, 2011. A policy is said to “short-term” when it lasts less than one year.
This is the acronym for the Workers’ Compensation Insurance Rating Bureau of California. It is the private rating entity in California that gathers workers’ compensation data from all workers’ compensation carriers’ for their clients. Among its many functions, the WCIRB calculates all employers’ x-mods and provides this information to the carriers who use the x-mods to calculate premiums for their insureds.
WCIRB No. or Bureau No.:
Both terms are used interchangeably. This is usually a seven digit number (although there are employers with four, five or six digit numbers) punctuated by dashes used to identify a single employer and all of the entities it owns as a common majority. As a result, an employer running many entities may have many policies listed under its WCIRB No. for each of its entities, or, on the other hand, have one policy with all of its many entities listed under it.
WORKERS’ COMPENSATION POLICY YEAR PAYROLL:
This payroll is used to determine the dollar amount an employer will pay on the assessment. Assessment amounts range from $100 up to $10,000 maximum. For the 2012 TICF assessment, the workers’ compensation policy year payroll comes from the 2009 policy year.