CIRCULAR LETTER 2842 - APRIL 7, 2000
PROCEEDINGS OF THE WISCONSIN RATING COMMITTEE
TO: Members of the Bureau
FROM: Donna Knepper
RE: Proceedings of the Wisconsin Rating Committee
Circular Letter 2841 – March 21, 2000
Item Number 3769 Large Risk Alternative Rating Option/Multiple Lines
Pursuant to Ch 626, Wis. Stats., the State of the Wisconsin, Office of the Commissioner of Insurance has advised that the action taken by the Rating Committee has been approved effective April 1, 2000, applicable to new and renewal business only.
The current language under the Large Risk Alternative Rating Option/Multiple Lines is replaced with the following:
PART TWO
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NOTE: Risks with an estimated annual standard premium for Worker’s Compensation is in excess of $250,000 or an estimated annual standard premium in excess of $500,000 for multiple lines written individually, or in any combination with General Liability, Hospital Professional Liability, Commercial Automobile, Crime, Glass or Workers Compensation may be written under the Large Risk Alternative Rating Option. This option provides that such risks may be retrospectively rated as mutually agreed upon by carrier and insured, however for risks with an estimated annual standard premium less than $1,000,000 individually, or in any combination with other lines of coverage, (see above), the Maximum Premium under this plan shall not be less than 100% of the Standard Premium. |