Workers Compensation and Employers Liability Insurance

Workers Compensation and Employers Liability Insurance

This course is designed to give you a solid understanding of workers compensation and employers liability insurance and how it can be used to cover an organization's workers compensation loss exposures. Before beginning the course, you should familiarize yourself with the educational objectives of the course, which are summarized below. Marketing tips for WC & EL insurance can be seen by clicking here.

Educational Objectives

1.       Explain the origins of workers compensation and its current role in our society.
2.       Describe the key legal concepts of workers compensation.
3.       Explain the common features of state workers compensation laws.
4.       Given a case, tailor workers compensation coverages to fit the exposures presented.
5.       Explain the importance of safety in workers compensation and how producers can influence loss control.
6.       Illustrate some of the future issues workers compensation producers will face.
7.       Given a workers compensation case, prepare a submission for an underwriter.

In support of the assignment objective listed above, you should be able to do the following:
a.      Identify, explain, and illustrate the use of any information needed by an underwriter to properly evaluate and price a workers          compensation policy.
b.      Compare the various methods of providing workers compensation benefits.
c.      Describe the various provisions of the workers compensation policy.
d.      Describe the endorsements and optional coverages available to modify the basic policy.
e.      Illustrate the use of stopgap and stop loss coverages.
f.      Describe how workers compensation premiums are developed for guaranteed cost and competitively priced policies.
g.      Illustrate optional strategies to control workers compensation premiums.

I. Origins of Workers compensation      20 minutes

II. Basic Workers Compensation Concepts      30 minutes

A. Key Legal Concepts
1. Employer Responsibility Regardless of Fault
2. Exclusive Remedy
3. Dual Capacity
4. Covered Injuries
5. Definition of "Accident"

B. Common Features of Workers Compensation Laws      60 minutes
1. Compulsory Versus Elective Laws
2. Who Is a Covered Employee
3. Coverage for contractors
4. Effect of Different Forms of Ownership
5. Covered Benefits
6. Second Injury Funds
7. Coverage for Minors
8. Extraterritorial Coverage
9. Claims Involving Third Parties
10. Coverage for Occupational Disease

Methods of Providing Workers compensation Benefits
1. Monopolistic State Funds
2. Commercial Insurance
3. Competitive State Funds and Private Insurers
4. Residual Markets
5. Self-Insurance
6. Self-Insurance Pools

III. The Workers compensation and Employers Liability Policy      75 minutes
A.    The Information Page
B.    General Section
C.    Part One: Workers Compensation
       1.Defense Coverage
       2. Other Insurance
       3. Subrogation
       4. Coverage Exclusions

D.    Part Two: Employers Liability Insurance
       1. Insuring Agreement
       2. Exclusions
       3. Limits of Liability
       4. Other Part Two Provisions

E.    Part Three: Other States Insurance

F.    Parts: Four, Five, and Six
       1. Part Four: Your Duties If Injury Occurs
       2. Part Five: Premium
       3. Part Six: Conditions

G.    Endorsements and Other Coverages
       1. Longshore or Harbor Workers
       2. Jones Act Coverage
       3. Foreign Voluntary Compensation
       4. Voluntary Compensation Endorsement
       5. Nonoccupational Temporary Disability Insurance

H.    Other Coverages
       1. Stopgap Coverage
       2. Stop Loss Coverage
       3. Combined Aggregate and Specific Excess Coverage

IV. Calculating Workers Compensation Premiums      15 minutes
A.      Classification
B.      Premium Base
C.      Premium Adjustment Factors
D.     Pricing and Other Competitive Strategies

V. Safety and Workers Compensation Insurance      20 minutes
A.      The Role of the Producer in Loss Control
B.      Occupational Safety and Health Act of 1970 (OSHA)
VI. The Future of Workers Compensation Insurance      20 minutes
A.      Twenty-Four-Hour Coverage
B.      Managed Care
C.      Challenges to the Workers Compensation System

VII. What the Underwriter Needs To Know      15 minutes
A.     Applicant Information
B.     Locations
C.     Policy Information
D.     Rating Information
E.     Individuals Included/Excluded
F.     Prior Carrier Information/Loss History
G.     Nature of Business/Description of Operations
H.     General Information
I.     Critical Thinking

VIII. Summary      15 minutes for a total of      240 minutes

FL Course Offering ID is 812680 for class on 2/27/07
FL Course id number is 59110
CEU Agent 4 hrs, intermediate