Coverage classification
- Form type
- Endorsements
- Topics
- Premium
- Product lines
- Commercial General LiabilityWorkers Compensation
Compare Composite rate endorsement forms
| Form | Intent | Coverage context | Notable terms |
|---|---|---|---|
Forestry Mutual Insurance CompanyComposite Rate Endorsement FMGL 000 40 1124 Commercial General Liability | Schedules a composite rate basis and amends the premium audit provision. | Uses gross sales and/or gross receipts as the basis of premium. | The estimated exposure, composite rate and deposit premium fields are blank in this specimen. |
Midwest Employers Casualty CompanyWorkers Compensation Composite Rate Endorsement WC 99 62 24 08 26 Workers Compensation and Employers Liability | Defines how a composite rate and audited payroll determine final premium. | Applies only to classifications and states where composite rating is allowed. | States an 80% minimum policy premium subject to applicable state requirements; scheduled values are blank. |
Notable clauses
“At the close of each audit period, we will compute the earned premium for that period.”
Forestry Mutual Insurance Company · Composite Rate Endorsement · FMGL 000 40 1124
Premium audit. The form treats advance premium as an estimate and provides for premium audit.
“At audit, the final premium will be calculated by multiplying the composite rate by the audited payroll”
Midwest Employers Casualty Company · Workers Compensation Composite Rate Endorsement · WC 99 62 24 08 26
Audited payroll. The form applies this calculation to operations permitting composite rating.
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