Wash. Admin. Code § 296-17B-540
For each of your claims, we will multiply the case incurred loss by the appropriate discounted loss development factors to determine the initial loss incurred.
If you have a fatality, we will use $576,200 as the claim's initial incurred loss for the claim, with $537,700 for accident fund incurred loss and $38,500 for the medical aid incurred loss, regardless of the case incurred loss, and before recovery factors if applicable.
The initial loss incurred for a claim will be the amount we use as the loss incurred unless the single loss occurrence limit applies.
The single loss occurrence limit applies when the sum of all initial losses incurred for your claims arising out of a single event is greater than your selected single loss occurrence limit. In that case, each claim's initial loss incurred will be its proportionate share of your single loss occurrence limit.
The preliminary loss incurred for a claim will be the amount of the initial loss incurred, after application of the single loss limit, multiplied by the appropriate expected loss ratio factor. The accident fund and medical aid fund portions of each claim will have separate expected loss ratio factors applied.
Wash. Admin. Code § 296-17B-540
Statutory Authority: RCW 51.16.035, 51.32.073, 51.08.010, and 51.04.020(1). 12-24-048, § 296-17B-540, filed 11/30/12, effective 1/1/13; 11-24-026, § 296-17B-540, filed 12/1/11, effective 1/1/12. Statutory Authority: RCW 51.16.035, 51.16.100, 51.04.020(1), and 51.18.010. 10-21-086, § 296-17B-540, filed 10/19/10, effective 11/19/10.