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3. The loss rate calculated by BICEP's actuary and as adopted <br />BICEP for the Risk Sharing Layer(s) in which the Member v <br />participate. The BICEP Board may elect to include an addition <br />Retained Earnings in the loss rate(s). <br />B. Insurance Premium. Each Member's Insurance Premium shall <br />calculated as the product of its Experience Percent Contribution multip <br />by the total premium to be paid by BICEP for insurance for the upcorr <br />program year. <br />C. Administrative Premium. Each Member's Administrative Prem: <br />shall be calculated as the product of its Experience Percent Contribui <br />multiplied by the total amount of Administrative Premium required <br />BICEP for the upcoming program year. <br />II. Participation Premium Adjustment <br />Following the close of each Coverage Period, an adjustment shall be made to t <br />Participation Premium, as described in ]. above, paid by each Member. The adjustment <br />each component of the Participation Premium shall be calculated as set forth below. <br />A. Risk Sharing Premium. Each Member's share of the total Risk Sh <br />Premium paid by all Members for the Coverage Period shall be calcu <br />The percentage so determined shall be multiplied by total losses in all <br />Sharing Layers in which a Member participates to determine <br />Member's actual share of the Risk Sharing Premiums. Total losses <br />include amounts paid, case reserves and incurred but not reported lc <br />The BICEP Board may elect to include an addition to or deletion <br />Retained. Earnings. <br />B. Administrative Premium. Each Member's share of actual <br />administrative costs shall be its Experience Percent Contribution <br />multiplied by total administrative costs for the year. <br />C. Insurance Premium. Each Member's share of actual insurance <br />premiums shall be its Experience Percent Contribution multiplied by total <br />insurance premiums for the year. <br />C.ADocumems and SeV ingsAlasuppon\Local SettingsV1'emporap~ INeme~ FilesAOLKD4DABICEP Exhibi~A 060205(LiabilityProgram)(5-10- <br />06)(final)22doc - - <br />A-2 <br />