MY CODING CLASSES (PARAMOUNT EDUCATION LLC)

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WORKERS COMPENSATION AND EMPLOYERS LIABILITY INSURANCE POLICY WC 00 00 00 C (Ed. 1-15) papers related to the injury, claim, proceeding D. Premium Payments or suit. You will pay all premium when due. You will pay the 4. Cooperate with us and assist us, as we may re- premium even if part or all of a workers compensa- quest, in the investigation, settlement or defense tion law is not valid. of any claim, proceeding or suit. 5. Do nothing after an injury occurs that would in- E. Final Premium terfere with our right to recover from others. The premium shown on the Information Page, 6. Do not voluntarily make payments, assume obli- schedules, and endorsements is an estimate. The gations or incur expenses, except at your own final premium will be determined after this policy cost. ends by using the actual, not the estimated, premi- um basis and the proper classifications and rates PART FIVE—PREMIUM that lawfully apply to the business and work covered by this policy. If the final premium is more than the A. Our Manuals premium you paid to us, you must pay us the bal- All premium for this policy will be determined by our ance. If it is less, we will refund the balance to you. manuals of rules, rates, rating plans and classifica- The final premium will not be less than the highest tions. We may change our manuals and apply the minimum premium for the classifications covered by changes to this policy if authorized by law or a gov- this policy. ernmental agency regulating this insurance. If this policy is canceled, final premium will be de- termined in the following way unless our manuals B. Classifications provide otherwise: Item 4 of the Information Page shows the rate and 1. If we cancel, final premium will be calculated pro premium basis for certain business or work classifi- rata based on the time this policy was in force. cations. These classifications were assigned based Final premium will not be less than the pro rata on an estimate of the exposures you would have share of the minimum premium. during the policy period. If your actual exposures are 2. If you cancel, final premium will be more than not properly described by those classifications, we pro rata; it will be based on the time this policy will assign proper classifications, rates and premium was in force, and increased by our short-rate basis by endorsement to this policy. cancelation table and procedure. Final premium will not be less than the minimum premium. C. Remuneration Premium for each work classification is determined F. Records by multiplying a rate times a premium basis. Remu- You will keep records of information needed to com- neration is the most common premium basis. This pute premium. You will provide us with copies of premium basis includes payroll and all other remu- those records when we ask for them. neration paid or payable during the policy period for the services of: G. Audit 1. all your officers and employees engaged in work You will let us examine and audit all your records covered by this policy; and that relate to this policy. These records include ledg- 2. all other persons engaged in work that could ers, journals, registers, vouchers, contracts, tax re- make us liable under Part One (Workers Com- ports, payroll and disbursement records, and pro- pensation Insurance) of this policy. If you do not grams for storing and retrieving data. We may con- have payroll records for these persons, the con- duct the audits during regular business hours during tract price for their services and materials may the policy period and within three years after the pol- be used as the premium basis. This paragraph 2 icy period ends. Information developed by audit will will not apply if you give us proof that the em- be used to determine final premium. Insurance rate ployers of these persons lawfully secured their service organizations have the same rights we have workers compensation obligations. under this provision. Page 5 of 6 ©Copyright 2013 National Council on Compensation Insurance,Inc.All Rights Reserved.