|
Term
|
Definition
|
|
general contractor
|
any business responsible for directing the work of a subcontractor (often seen in construction projects)
|
|
general employer
|
for WC, the employer with the broadest control of the means and methods used by the worker (opposite of special employer)
|
|
general exclusion operations
|
types of work that are classified separately unless specifically included in the classification code wording
|
|
general liability policy
|
insurance policy defending against and paying for claims an insured becomes legally obligated to pay for bodily injury or property damage – typically excludes injuries by an employee
|
|
governing classification
|
classification code on a WC policy that generates the most payroll aside from standard exception classification codes
|
|
group dividend plan
|
WC premium plan that may result in a refund if the group’s loss experience is favorable
|
|
guaranteed cost (GC)
|
WC policy where the only change to the premium originally charged results from a payroll audit; this is in contrast to the various kinds of loss-sensitive WC plans such as retrospective rating, retention plans, or dividend plans, where there is a premium adjustment made based on losses incurred during the policy term
|
