Have you ever wondered how BWC calculates your workers’ compensation insurance premium rate?

By Christopher S. Carlson, FCAS, MAAA, BWC Chief Actuarial Officer It all comes down to an equation:      Modified premium rate +   Administrative cost rate +   Disabled Workers’ Relief Funds assessments =   Blended insurance rate per $100 of payroll With the definitions in the sidebar as reference, let’s break down the formula: All employers …