Pennsylvania Code › Title 34 - LABOR AND INDUSTRY › Part VIII - Bureau of Workers' Compensation › Chapter 125 - WORKERS' COMPENSATION SELF-INSURANCE › Subchapter C - SELF-INSURING GUARANTY FUND › Section 125.202 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this
					 subchapter, have the following meanings, unless the context clearly indicates
					 otherwise:
Act
-The Workers' Compensation Act
					 (77
					 P. S. §§
											1-1038.2).
Basis of premium
-The basis for the
					 computation of an employer's workers' compensation insurance premium, such as
					 employe remuneration paid by the employer.
Bureau
-The Bureau of Workers' Compensation
					 of the Department.
Compensation
--Compensation as defined in
					 section 901 of the act (77 P. S. §
											1037.1).
Custodial accounts
-The two distinct and
					 separate accounts of the guaranty fund established under section 902(c) of the
					 act (77 P. S. §
											1037.2(c)). One account is
					 to be used exclusively to pay benefits arising from defaulting individual
					 self-insurers and one account is to be used exclusively to pay benefits arising
					 from defaulting group self-insurance funds.
Default
-The failure of a self-insurer to
					 pay compensation due to the self-insurer's financial inability or the
					 self-insurer filing for bankruptcy or being declared bankrupt or
					 insolvent.
Department
-The Department of Labor and
					 Industry of the Commonwealth.
Employer
-An employer as defined in section
					 901 of the act.
Guaranty fund
-The guaranty fund as defined
					 in section 901 of the act.
Manual premium
-The sum of an employer's
					 basis of premium for each classification for the 12-month period immediately
					 prior to the effective date of its individual self-insurance status under
					 section 305 of the act (77 P. S. §
											501) or of its membership in a group
					 self-insurance fund under Article VIII of the act (77 P. S. §§
											1036.1-1036.18) multiplied by the applicable
					 SWIF rate in effect at the time of the issuance of the insurance policy
					 immediately prior to the employer's individual self-insurance status or its
					 membership in a group self-insurance fund.
Modified manual premium
-An employer's
					 manual premium multiplied by its experience modification factor for the
					 insurance policy immediately prior to the employer's individual self-insurance
					 status or its membership in a group self-insurance fund, before adjustments or
					 discounts.
New group self-insurance fund
-A group
					 self-insurance fund initiating operation under the act.
New individual self-insurer
-An employer
					 operating as a self-insurer under its first permit, including an employer
					 operating as a self-insurer under its first permit following the lapse of a
					 previous period of self-insurance.
Occupational Disease Act
-The Pennsylvania
					 Occupational Disease Act (77 P. S. §§
											1201-1603).
Runoff group self-insurance fund
-A group
					 self-insurance fund which voluntarily terminated the permit issued to it under
					 Article VIII of the act or a group self-insurance fund whose permit was revoked
					 by the Bureau.
Runoff individual self-insurer
-An employer
					 that had been a self-insurer under section 305 of the act (77 P. S. §
											501) and section 305 of the Occupational
					 Disease Act (77 P. S. §
											1405) but no
					 longer maintains a current permit.
Security
-Security as defined in section
					 901 of the act.
Self-insurer
-A self-insurer as defined in
					 section 901 of the act, including a runoff individual self-insurer and a runoff
					 group self-insurance fund.
Self-insurer accounts
-Individual
					 segregated subaccounts of the custodial accounts for the deposit of funds
					 received from security demanded under section 904(d)(2)(ii) of the act
					 (77
					 P. S. §
											1037.4(d)(2)(ii)).
SWIF
-The State Workers' Insurance
					 Fund.
SWIF rate
-The amount per unit of exposure
					 which SWIF charges for insurance, calculated by multiplying the lost cost
					 charge for a classification by the SWIF lost cost multiplier.
This section cited in 34 Pa. Code §
												125.10 (relating to funding by
						public employers).