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These simplified explanations are for educational purposes. They are NOT precise legal definitions.

Phrases italicized below are defined in this glossary.

Term

Definition

bankruptcy

For WC, the bankruptcy of the employer does not prevent payment of benefits by the WC insurer

basic factor (BF)

in retrospectively rated WC plans, the percentage standard premium the insurer needs to issue the policy and service it (other than claims administration)

basic premium

for retrospectively rated plans, a percentage of the standard premium that covers agency commissions, loss control expenses, and other non-claim insurer expenses

benefits

see workers compensation benefits

Benefits Deductible Endorsement

endorsement to the WC policy used where the state permits a benefits deductible (not related to large deductible plans)

black lung disease

see coal workers pneumoconiosis (CWP)

Black’s Law Dictionary

well-respected legal dictionary for US law; good starting point when faced with an unfamiliar legal term

broker

insurance sales entity that, in most instances, is the legal representative of the employer as buyer

burden of proof

legal term indicating who must prove the claim and to what extent

business risk

For WC, a term that indicates the injury was more likely to occur due to the employment -- see increased risk doctrine

“by accident” limit

one of the limits of liability in Part Two employers liability coverage

“by disease” limit

a set of limits of liability in Part Two employers liability coverage


Copyright 2004-2008 Gary Hinson. All Rights Reserved.

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