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What types of fines are imposed by WCRB?

April 26, 2017fines imposed types wcrb

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What types of fines are imposed by WCRB?

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WCRB fines insurers for the following: – Failure to respond to a Notice to Carrier within the allowable time. – Late filing of a unit statistical report. – Late filing of a policy: Policies/binders must be received at WCRB within sixty days of the effective date. – Late filing of financial call data. One of the duties of WCRB is ensuring timely and accurate worker’s compensation coverage and rating information for use by WCRB’s customers. Fining the insurer for noncompliance is one of the tools used to accomplish this.