Knowledge Corner

When you are starting a new Wrap-Up project, you will need to provide copies of your insurance rate pages. But how do you find this information? Here's what you should know about your insurance rate pages and why they are important. 

What are Insurance Rate pages?

Insurance rate pages are the actual pages from your corporate insurance policies that show how your insurance premium is calculated. Depending on the type of CIP you are working on, you may be asked to supply your company’s Workers’ Compensation, General Liability, Excess/Umbrella rate pages, or a subset of these. The rate pages are known as Dec (or Declaration pages). These Declaration pages show you the following information:

• Class Codes
• Rates
• Any modifications to the rate

Modifications are debits and credits the insurance company uses to determine the total premium for your policy.

Why are Insurance Rate Pages needed?

Insurance rate pages are required in order to verify your cost of insurance for the work you perform. The Project Sponsor requires the pages from the policy period in which your contract was awarded. Your broker can assist you with providing and finding these pages, if you are unable to locate them within the policy. Insurance rate pages are also stored within your Wrap-Up contract, if you need a quick reference in the future. 

If you have any questions or need help with insurance rate pages, Wrap-Ups, or other insurance policies, you may give TSIB a call today at 201-267-7500! You may also download TSIB's "Experience Modification Rate (EMR) 101" eBook below, to learn how you can stop paying more than you should for workers' compensation insurance. 

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