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PA Bulletin, Doc. No. 96-1185


Old Republic Insurance Company; International Business and Mercantile Reassurance Company; Workers' Compensation Group Retrospective Rating Plan

[26 Pa.B. 3494]

   On June 27, 1996, the Insurance Department received a filing from the Old Republic Insurance Company and International Business and Mercantile Reassurance Company which describes eligibility criteria and premium calculation rules for a workers' compensation group retrospective rating plan. The rating plan would be written through them with a proposed August 1, 1996, effective date.

   The objectives of this rating plan are to implement effective safety programs, improve medical care for the employes of plan members, and reduce workers' compensation costs for the group. Old Republic Insurance Company and International Business and Mercantile Reassurance Company will calculate the first interim estimated premium 18 months after the program's inception, and will recalculate the interim estimated premium annually thereafter until all subject loss are settled or at an earlier time by agreement with the group when a final reconciliation and adjustment is computed. Payment of additional premium to the two companies, or return premium by the two companies to the group, resulting from the calculation or recalculation of the adjusted premium, may be according to an agreement between the two companies and the group.

   Copies of the filing are available for public inspection during normal working hours, by appointment, at the Insurance Department's offices in Harrisburg, Philadelphia, Pittsburgh and Erie.

   Interested parties are invited to submit written comments, suggestions or objections, to Guo Harrison, Actuary, Insurance Department, Office of Rate and Policy Regulation, Bureau of Property and Casualty Insurance, 1311 Strawberry Square, Harrisburg, PA 17120, within 30 days of publication of this notice in the Pennsylvania Bulletin.

Insurance Commissioner

[Pa.B. Doc. No. 96-1185. Filed for public inspection July 19, 1996, 9:00 a.m.]

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