CIRCULAR LETTER 2847 – MAY 2, 2000
PROCEEDINGS OF THE WISCONSIN RATING COMMITTEE
TO: Members of the Bureau
FROM: Donna Knepper
RE: Proceedings of the Wisconsin Rating Committee
Circular Letter 2841 – March 21, 2000
Item Number 3806 Amendment to Manual Rule VI.F.
Pursuant to ch 626, Wis. Stats., the State of the Wisconsin, Office of the Commissioner of Insurance has advised that the action taken by the Rating Committee has been approved effective July 1, 2000. The collection terms under Rule VI.F. on Wisconsin Page 20 are amended as follows:
"Rule VI. – F. Deposit Premium
2. Amount Payable
Adjustment of premium may be on an annual basis. If the adjustment is not on an annual basis, the policy shall provide for interim adjustment and payment of the full estimated annual premium during the term of the policy on a monthly, quarterly or semiannual basis or on a basis concurrent with the insured’s periodic payroll schedule. This rule does not apply to policies issued pursuant to the Retrospective Rating Plan Manual for Worker’s Compensation and Employers Liability Insurance. The amount of the deposit premium shall be established by the carrier."