Special Products and Programs
In addition to providing workers' compensation and employers liability to
Maryland
businesses of all sizes, IWIF also offers several "special products."
These include
additional coverage for certain work performed out-of-state as
well as several special
rating plans designed to control costs and ensure safer
workplaces.
IWIF Rating Plans
IWIF offers several plans through which we can discount your rates, if you so
qualify:
Experience Rating Plan
Experience rating is a way to calculate premium based on a company's individual
loss experience. If your losses are lower than expected for your industry group,
you will receive a premium credit. If your losses are higher, your premium will
be increased. Attention to effective safety practices should result in fewer
losses and lower premiums for all businesses.
Scheduled Rating Plan
For eligible policyholders, IWIF may adjust the premium charges for coverage
based on individual risk characteristics including the application of proven
safety practices and procedures.
Loss Ratio Dividend Plan
Dividend plans return premium to policyholders based on their actual loss
experience during a specified policy term. If losses are low during the policy
period, you may receive a certain amount of refunded premium. If losses are
high, no premium will be returned.To read more about the Injured Workers'
Insurance Fund, click on the "...Quick Facts" link above. |
