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Term
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Definition
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bankruptcy
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For WC, the bankruptcy of the employer does not prevent payment of benefits by the WC insurer
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basic factor (BF)
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in retrospectively rated WC plans, the percentage standard premium the insurer needs to issue the policy and service it (other than claims administration)
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basic premium
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for retrospectively rated plans, a percentage of the standard premium that covers agency commissions, loss control expenses, and other non-claim insurer expenses
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benefits
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see workers compensation benefits
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Benefits Deductible Endorsement
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endorsement to the WC policy used where the state permits a benefits deductible (not related to large deductible plans)
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black lung disease
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see coal workers pneumoconiosis (CWP)
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Black’s Law Dictionary
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well-respected legal dictionary for US law; good starting point when faced with an unfamiliar legal term
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broker
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insurance sales entity that, in most instances, is the legal representative of the employer as buyer
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burden of proof
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legal term indicating who must prove the claim and to what extent
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business risk
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For WC, a term that indicates the injury was more likely to occur due to the employment -- see increased risk doctrine
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“by accident” limit
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one of the limits of liability in Part Two employers liability coverage
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“by disease” limit
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a set of limits of liability in Part Two employers liability coverage
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