WorkersCompensationLiabilityAndSchedule Calculation Procedure

The WorkersCompensationLiabilityAndSchedule calculation procedure does this

We expect that you'll create your own calculation procedure to rate your workers compensation products. You can use WorkersCompensationLiabilityAndSchedule as an example, and make changes to this procedure so you can see how calculation procedures work.

Here's what each step of the WorkersCompensationLiabilityAndSchedule calculation procedure does:

1. Does matrix lookups to get the rate factor and minimum amount for employer's liability.

2. Calculates the employer's liability.

3. Calculates the premium for the employer's liability.

4. Calculates the location coverage.

5. Calculates the scheduled discount amount.

6. Calculates the scheduled discount amount.

7. Calculates the scheduled experience rating mod.