Retrospective Rating / PREFACE

This manual contains rules and rating values that have been approved by the New York State Insurance Department pursuant to Article 23 of the New York Insurance Law. The manual is organized according to the following topics:

• Rule 1 - General Explanation
  
  
• Rule 2 - Eligibility for the Plan
  
  
• Rule 3 - Operation of the Plan
  
  
• Rule 4 - Administration of the Plan
  
  
• Tables of Retrospective Rating Values
  
  
• Appendix
  
  
• Endorsements Required for Use of the Plan

*  For interstate retrospective rating plan, this Plan applies to employers liability only.

The rules contained in this manual apply only to workers compensation and employers liability insurance, whether written alone or in combination with other commercial casualty insurance. A retrospective rating plan is based on a mutual agreement between the insured and the carrier. Refer to the Retrospective Rating Plan issued by the Insurance Services Office for rules that govern other commercial casualty lines of insurance.

Premium under a retrospective rating plan is the direct result of incurred losses. A retrospective rating plan reflects the cost of losses plus the insurance carrier's expenses in providing this insurance.