The National Council on Compensation Insurance (NCCI) is a US insurance rating and data collection agency specializing in workers compensation. Operating on a nonprofit philosophy and owned by its member insurance company, the NCCI annually collects data covering over four million workers' compensation claims and two million policies. The Bureau uses this information to provide:
- Analysis of industry trends in workers' compensation costs
- Employee insurance compensation rate and cost loss recommendation
- Cost analysis of proposed legislation on employee compensation and benefits regulations
- Specific claim research project
- Analysis of judicial decisions and regulations on workers' compensation
- Work with other data collection agencies to ensure a credible database
NCCI also produced a number of manuals that set details on how the Workers' Compensation insurance premium is calculated in many (but not all) states. Among these manuals are the Basic Manual (which sets rules on the classification code system, the payroll amount used to calculate premiums, and changes in classification and premiums); The Experience Rating Manual (which details the rules governing how the Experience Modification Factor is computed and used in Workers' Compensation insurance premiums); and Scopes Manual (which explains how the NCCI wants various classification codes to be assigned to different types of work).
NCCI also calculates the experience modification factors used in most states to adjust compensation of Workers' compensation insurance, using data loss and payroll reported by various member insurance companies that are part of the NCCI.
NCCI provides data and analysis for insurance companies, compensation insurance funds for state workers, authorities, employers who need information on employee compensation issues, and non-government workers' compensation agencies. The Bureau is headquartered in Boca Raton, Florida with regional offices throughout the United States. The current President and CEO is William Donnell. Board of directors comprising representatives of affiliated insurance companies and outside organizations that oversee bureau activities.
Video National Council on Compensation Insurance
External links
- The NCCI website
- Online Guide for Workers' Compensation Insurance
Source of the article : Wikipedia
0 Comments