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NCRB To Revise Formulas To Calculate Payroll

26 Aug, 2010 WorkersCompensation.com

                               
Raleigh, NC (CompNewsNetwork) - The North Carolina Rate Bureau has adopted and the North Carolina Commissioner of Insurance has approved the adoption of changes to NCCI's Basic Manual for Workers Compensation and Employers Liability Insurance. The effective date is April 1, 2011, and will impact all new and renewal voluntary and assigned risk business.

The purpose of this filing is to revise or clarify the formulas used to calculate payroll for partners and sole proprietors and formulas used to determine minimum and maximum payroll amounts for executive officers as shown in NCCI's Basic Manual for Workers Compensation and Employers Liability Insurance.

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