Workers Compensation for Contractors Course Outline

  1. Course Introduction
  2. Introduction to Workers Compensation
    1. The Evolution of Workers Compensation Law
      1. Employers Liability Statutes and Judicial Modifications
      2. Early Workers Compensation Laws
    2. Today’s State Workers Compensation Laws
      1. Compulsory versus Elective Workers Compensation Laws
      2. Exclusive Remedy
      3. Penalties for Failure To Secure Benefits
      4. Covered Employments
      5. Number of Employees
      6. Type of Work
      7. Independent Contractors
      8. Employee Leasing
      9. Sole Proprietors, Partners, Executive Officers, and Limited Liability Companies
      10. Elective Coverage
      11. Suits against Third Parties
      12. Waiver of Subrogation
      13. Injuries Not Covered
      14. Occupational Disease
      15. Extraterritorial Application
      16. Workers Compensation Benefits
        1. Medical Benefits
        2. Disability Benefits
        3. Rehabilitation Benefits
        4. Death Benefits
  3. The Workers Compensation and Employers Liability Policy
    1. General Section
      1. Who Is An Insured
      2. Additional Insureds
      3. Covered Workplaces
      4. Definitions Regarding Applicable Law
    2. Part One—Workers Compensation Insurance
      1. Subcontractors
    3. Part Two—Employers Liability Insurance
      1. Coverage Criteria
      2. Exclusions
        1. Contractual Liability
        2. Illegally Employed Persons
        3. Injuries Sustained in Foreign Countries
        4. Employment-Related Practices
        5. Injuries Covered under a Federal Compensation Act
      3. Limits of Liability
    4. Part Three—Other States Insurance
    5. Part Four—Your Duties If Injury Occurs
    6. Part Five—Premium
    7. Part Six—Conditions
  4. Workers Compensation Policy Endorsements
    1. Stop Gap (Employers Liability) Endorsement
    2. Longshore and Harbor Workers Compensation Act Coverage Endorsement
    3. Outer Continental Shelf Lands Act Endorsement
    4. Maritime Coverage Endorsement
    5. Defense Base Act Coverage Endorsement
    6. Voluntary Compensation Endorsement
    7. Sole Proprietors, Partners, Officers, and Others
    8. Joint Venture as Insured Endorsement
    9. Alternate Employer Endorsement
    10. Employee Leasing Endorsements
    11. Waiver of Subrogation Endorsement
    12. Designated Workplaces Exclusion Endorsement
    13. Broad Form Named Insured Endorsement
    14. Modified Notice of Injury Endorsement
    15. Extended Notice of Cancellation Endorsement
  5. Overview of the WC Marketplace
    1. Workers Compensation Insurance Markets
      1. Monopolistic State Funds
      2. The Voluntary Private Market
      3. Competitive State Funds
      4. Residual Market Plans
    2. Alternatives to Insurance
      1. Individual Self-Insurance
      2. Group Self-Insurance
      3. AGC Self-Insured Workers Compensation Funds
  6. Rating Workers Compensation Risks
    1. Exposure Base
    2. Classification
    3. Calculating Estimated Annual Premium
      1. Experience Modifier
      2. Loss Constant
      3. Expense Constant
      4. Minimum Premium
      5. Premium Discount
      6. Schedule Rating
      7. Contracting Classification Premium Adjustment Program
    4. Numerical Example
      1. Consolidated Insurance Programs
    5. Summary
  7. Workers Compensation Guaranteed Cost Programs
    1. Cost-Saving Options
      1. Proper Rating
      2. Small Deductibles
      3. Dividend Plans
        1. Flat Dividends
        2. Sliding Scale Dividend Plans
  8. Retrospective Rating Plans
    1. Incurred Loss Retros
    2. Basic Premium
    3. Converted Losses
      1. Incurred Losses
      2. Loss Conversion Factor
    4. Excess Loss Premium
      1. Retro Development Premium
    5. Tax Multiplier
    6. Final Premium
    7. Three-Year versus One-Year Retros
    8. Canceling a Retro
    9. Large Risk Alternative Rating Option
    10. Paid Loss Retrospective Rating Plans
    11. Retrospective Adjustments
  9. Workers Compensation Deductible Plans
    1. NCCI Deductible Plans (Small Deductibles)
    2. Large Deductible Programs
      1. What Is a Large Deductible Program?
      2. How a Large Deductible Plan Works
      3. Insurer Filing Requirements
      4. Reasons for Growth in Popularity
      5. Disadvantages of Large Deductible Plans
  10. Experience Rating
    1. Eligibility
    2. Experience Rating Period
      1. Combinability
        1. Majority Ownership
        2. Joint Ventures
      2. Wrap-Up Construction Projects
      3. Change in Ownership
        1. Nominal versus Material Changes
        2. Continuation of Experience
    3. Experience Modifier Calculation
    4. Unit Statistical Plan
      1. First Report
      2. Subsequent Reports
      3. Correction Reports
    5. Application of Experience Modification
      1. Changes in Experience Modifications
    6. Experience Rating Philosophy
    7. Intrastate/Interstate Experience Rating
    8. Controlling Experience Modifiers
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