The Department of Labor and Industry

Bibliographic data

Monograph

Identifikator:: 1827881585

URN:: urn:nbn:de:zbw-retromon-221260

Document type:: Monograph

Title:: The Department of Labor and Industry

Place of publication:: Harrisburg

Publisher:: Dep. of Labor and Industry

Year of publication:: 1930

Scope:: 68 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: State workmen's insurance fund

Collection:: Economics Books

s VA tions covering liability under the Pennsylvania Workmen’s Compensa- tion Act. Compensation insurance rates in Pennsylvania are calculated by two Rating Bureaus, one of which has charge of the industrial class of business, while the other Bureau has charge of coal mine business. These Bureaus are supported by the State ‘Workmen's Insurance Fund as well as all other insurance carriers writing compensation insurance policies in Pennsylvania, but they are under the control of the Insur- ance Commissioner of Pennsylvania. Under the rules and regulations of the Insurance Department, the State Fund, as well as all other in- surance carriers, is required to report to these Rating Bureaus the description as well as the cost of all accidents which are reported to them by their policyholders. Likewise, a report is required to be made sovering the payroll and premium covering each and every policy issued by the various insurance carriers. From this data the Rating Bureaus promulgate the rate which, after their approval by the Insur- ance Commissioner, are used by the State Workmen ’s Insurance Fund as well as all other insurance carriers in underwriting compensation insurance policies. These rates are the same for the State Workmen's [nsurance Fund as for all other insurance carriers. These published rates are subject to modification by the application of an experience rating plan and also of a rating schedule, which, as applying to in- dustrial business and coal mine business, have been built up purely from Pennsylvania experience. The operations of the State Workmen’s Insurance Fund have been separated into various divisions so that the policyholders may receive the maximum of service under their policies. The divisions which come in contact with the public insured with the State Fund. together with their funetions. are as follows: UNDERWRITING DIVISION This Division is entrusted with the task of underwriting all policies covering liability under the Workmen’s Compensation Act issued by the State Fund. Extensive records are maintained showing the correct rates applicable to nearly every industrial business or enterprise in Pennsylvania so that the proper classification and rate may be applied to each application for a policy. All correspondence concerning the issuance of policies as well as the many requests for definitions of vari- sus conditions contained in the State Fund policy, are handled by this Division. ACCOUNTING DIVISION The principal duty of this Division is the collection of all premium moneys due the Fund and the proper maintenance of all finaneial records. A complete analytical record is kept of disbursements made by the Fund; as the records of this Division as to income and disburse- ments are important in arriving at the rate of dividend to be declared by the Fund each year. All statements of monthly, quarterly, and semi-annual accounts are handled by this Division. All correspondence pertaining to any question relating to the payment of premium is also handled bv this Division. CLAIM DIVISION This Division takes care of all reports of accidents occurring to em- sloyves of policyholders issued to the Fund. An average of approxi

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