1) To provide reliable statistics and rating
information for workers’ compensation insurance and employer
liability insurance.
2) To collect and tabulate information and
statistics for the purpose of developing premium rates to
be submitted to the commissioner for issuance or approval.
3) To formulate rules and regulations in
connection with pure premium rates and the administration
of classifications and rating systems.
4) To inspect risks for classification or
rate purposes and to furnish to the insurer/employer information
concerning the rates applicable to the employers’ insurance.
5) To examine policies, daily reports, and
endorsements or other evidences of insurance for the purpose
of determining compliance with provisions of law and to make
reasonable rules governing the submission.
6) To initiate test audits of insured employers’
payrolls and insurer’s audits of such payrolls.
7) To exchange information and experience
data with rating organizations, advisory organizations, and
insurers.
8) To become a member or subscriber of any
lawfully authorized ratemaking or advisory organizations whenever
membership in such organization is necessary or helpful.
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