Wages and Benefits

 

The Wages and Benefits function enables you to view and modify default values for workers' compensation exposures: the percent of employees on the premises who work day, evening, and night shifts; the average annual wage; and average medical costs for minor/moderate/major/fatal injuries. If the exposure data does not include shift percentages or injury rates, the system uses the AIR default data for the location's state/prefecture and occupancy type. If the exposure data does not include occupancy information, the system uses "Commercial" occupancy rates for the state. The injury defaults vary by state, and shift percentages vary by occupancy, according to industry estimates.

Set loss defaults for wages and benefits in the Wages and Benefits pane.

Parameters & Buttons

Description

Common buttons Use these buttons (when applicable) and the parameters below  to set default wages and benefits.

Country

Select country from the selection list to filter table by country.

Area

Select area of interest  from the selection list to filter table by area (state).

Currency

Set in Currency Rate Settings.

Occupancy

Select occupancy type from the drop-down menu to filter table by occupancy class (residential, commercial, industrial, and other).

Percent Day Shift

Enter default percentage of employees on the premises who work day shift.

Percent Evening Shift

Enter default percentage of employees on the premises who work evening shift.

Percent Night Shift

Enter default percentage of employees on the premises who work night shift.

Average Annual Wage

Enter average annual wage default.

Average Medical Cost for Minor Injury

Enter default average cost for minor injury.

Average Medical Cost for Moderate Injury

Enter default average cost for moderate injury.

Average Medical Cost for Major Injury

Enter default average cost for major injury.

Average Medical Cost for Fatal Injury

Enter default average cost for fatal injury.

 

 

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Touchstone V3.0 Updated December 01, 2016