For the purposes of this chapter, the terms defined in this part have the meanings given them.
"Classification plan" or "classification" means the same as it is defined in Minnesota Statutes, section 79.52, subdivision 4.
"Data service organization" or "organization" means the same as it is defined in Minnesota Statutes, section 79.52, subdivision 3.
"Insurer" means the same as it is defined in Minnesota Statutes, section 79.52, subdivision 13.
"Pure premium" means that portion of a premium, as defined in Minnesota Statutes, section 79.52, subdivision 7, designated for claim payments.
A "pure premium base rate schedule" is a set of pure premium rates with no adjustments for trend and with only partial loss development reflecting some additional development but not developed to the ultimate expected loss level.
"Pure premium rate" means that portion of a rate designated for claim payments.
"Pure premium relativities" means the mathematical relationship of pure premium rates for each reporting classification one to another, to a base class or classes, or to some common index or indices.
"Rates" means the same as it is defined in Minnesota Statutes, section 79.52, subdivision 5.
"Rating association" means the Minnesota Workers' Compensation Insurers Association, Inc.
8 SR 2273; 31 SR 323
September 14, 2007
Official Publication of the State of Minnesota
Revisor of Statutes