The rules pertaining to ownership and experience rating can seem complex to even the most experienced insurance professional. The WCIRB CompEssentials® course, Ownership and Experience Rating, provides a practical approach to navigating the intricate regulations to help you better understand the process and help your customers.
In addition to explaining how to determine ownership of an entity, Ownership and Experience Rating demystifies the process for evaluating a change in ownership and ascertaining whether the experience should apply to a new owner.
Composed of 8 modules (5 hours of training), the Ownership and Experience Rating course will help learners:
• Review changes in ownership for businesses and determine what happens to the X-Mod.
• Identify when businesses that share common ownership must be combined for experience rating.
• Know when separate entities can be covered on the same policy.
• Understand why it is important to obtain detailed ownership information when underwriting a policy.
• Use WCIRB Connect to submit and check the status of a change in ownership for a policyholder.
The Ownership and Experience Rating course is approved for 5 CEU toward a Property & Casualty license with the California Department of Insurance.
Based on feedback from customers, we have extended the enrollment period for all courses (Classification Basics, Experience Rating Fundamentals, and Ownership and Experience Rating) to provide 180 days to successfully complete each course. This is double the original enrollment period of 90 days.
This allows students to absorb the comprehensive training material at their own pace.
All other aspects of enrollment are the same; you must successfully complete the final exam with a minimum score of 75%, and you have three attempts to do so if you wish to receive the 5 CEU’s toward a California Property-Casualty license.
Bulk purchases of CompEssentials courses come with discounted pricing. For more information on purchasing a bulk enrollment, please contact [email protected].
Since its launch in 2016, hundreds of students have successfully completed WCIRB CompEssentials courses and gained enhanced knowledge of California Workers’ compensation regulations.These on-demand, self-paced courses provide a fundamental overview of the key workers’ compensation concepts.
The WCIRB CompEssentials online training program includes Classification Basics, Experience Rating Fundamentals and Ownership and Experience Rating. Coming in 2019 is a course providing an overview of the workers’ compensation ecosystem.
To enroll in these courses and for more information on CompEssentials, visit wcirb.com/compessentials.
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