Wash. Admin. Code § 296-17B-430

Current through Register Vol. 24-17, September 1, 2024

Section 296-17B-430 - Incurred loss and expense charge

You will pay for the cost of your claims and their administration for those injuries and illnesses occurring during your retrospective rating enrollment period. You can protect yourself from high claims costs at the claim level with the single loss occurrence limit you select. You can protect yourself from high claims costs at the aggregate claims level with the maximum loss ratio you select.

Our actuaries will determine your incurred loss and expense charge by multiplying your losses incurred by the performance adjustment factor and 112.5 percent, which is one plus the claims administration expense factor, currently 12.5 percent.

Data from fiscal years 2020 through 2022 was used to determine the claims administration expense factor.

Wash. Admin. Code § 296-17B-430

Amended by WSR 17-12-020, Filed 5/30/2017, effective 6/30/2017

Amended by WSR 23-17-146, Filed 8/22/2023, effective 10/1/2023

Statutory Authority: RCW 51.16.035, 51.16.100, 51.04.020(1), and 51.18.010. 10-21-086, § 296-17B-430, filed 10/19/10, effective 11/19/10.