Assigned Risk
A poor risk or a risk that is difficult to insure but an insurance company is required to provide coverage for in accordance with the state law.
What is Assigned Risk?
Information about the company, regions, brand templates, access to resources, departments, documents and systems can all be found here.
What is OnPoint?
The financial resource behind the coverage provided in an insurance policy.
What is a Carrier?
A licensed insurance company or through the State Compensation Insurance Fund (State Fund).
What are the Sources of Workers Compensation?
Representatives, Assistants/Clerks and Rating Technicians.
What is the Assigned Risk team comprised of?
Poor loss history, new business, very small business, hazardous occupation.
What are reasons why an employer may have difficulty obtaining workers compensation insurance from a standard insurer?
Policy System currently used for CopperPoint Insurance Company. Includes account & policy Level and documents.
What is Guidewire/Policy Center?
A document that records the history of claims made against a commercial insurance policy.
What is a Loss run?
Keep records of accidents. Report work related accidents to the state workers compensation board and to the insurer within a specified number of days.
What are Workers' Compensation Insured Obligations?
•Each function/tasks may be a variation of the above, depending on the Representative they work with. Additional tasks include:
•Assist with loss runs
•Second requests for test audits
What are Assistant/Clerk tasks?
NCCI:
·Application processing
·Eligibility determination for insurance
·Assignment of risks
·Oversight of the servicing carrier selection process
What are the functions of a plan administrator?
Legacy account level information/policy number creation and document management system apps (accessed from Citrix) used by ANIC?
What is Policy System (PAS) and Retriever?
An application that contains additional information not included in the Acord applications.
What is a supplemental application?
Represent small businesses and professions employees could be exposed to work-related injuries or illnesses.
What are National Council on Compensation Insurance (NCCI) class codes?
Contains instruction helpful information and procedure. It also includes pathways and direction to access system & documents
What is the Assigned Risk Role Manual?
States that don't need assigned risk plans because all employers in those states are required to secure workers comp insurance from a government operated fund.
What are Monopolistic States?
Used for looking up class codes and basic manual rules.
What is Reference Connect, Sage or Silver Plume?
An estimate of what and insureds rate could be with a potential insurance carrier.
What is a quote?
North Dakota, Ohio, Washington, Wyoming
What are Stop Gap States?
Houses operations procedure, Role Manuals, meeting artifacts, reference documents, and training material.
What is Knowledge Base?
•The National Council on Compensation Insurance (NCCI)
•The state competitive insurance fund
•The state rating organization or another third party
What are the designated an administrators that operate the Assigned Risk plan and oversees the issuance of policies?
The standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
What is The North American Industry Classification System (NAICS)?
Endorsements, declarations, exclusions & conditions.
What are the parts of am insurance policy?
Part 1- Workers Compensation
Part 2- Employee Liability, Other states insurance, Duties if Injury Occurs, Premium and Conditions.
What does a Workers Compensation coverage form contain?
Logs, templates, forms, guidelines, procedure, training resources & instruction are housed here.
What are Shared Drives?