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Workers´ Compensation Classifications Page 2
at $7.61 per $100 of pay. (In the above examples, a secretary earning $20,000 would cost a company $58 a year in estimated premiums, while a driver earning $35,000 would cost $2,663.50.)
Oil field workers, miners, and roofers are among the highest-risk employees and thus have the highest premiums; office workers are among the lowest.
The initial estimated premium is then modified by the insurer or rating agency to account for the employer's safety record and several other factors. These calculations determine a company's "total estimated premium" for the coming year and are spelled out in the premium statement.
At the end of the policy year, an auditor for the underwriter examines thecompany's payroll to determine the final "audited premium," which is the amount the company ultimately pays.
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