Terms Used In California Codes > Health and Safety Code > Division 12 > Part 2.7 > Chapter 7 - Finance

• Advisory organization: means every person, group or organization, other than an insurer, whether located within or without this state, which prepares policy forms or underwriting rules incidental to or in connection with workers' compensation insurance and employer's liability insurance incidental thereto and written in connection therewith or which collects and furnishes to admitted insurers or rating organizations loss statistics or other statistical information and data relating to workers' compensation insurance and employer's liability insurance incidental thereto and written in connection therewith and acts in an advisory capacity to such insurers or rating organizations as distinguished from a ratemaking capacity. See California Insurance Code 11750.1
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• classification: means a plan, system, or arrangement for recognizing differences in exposure to hazards among industries, occupations, or operations of insurance policyholders. See California Insurance Code 11730
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• County: includes city and county. See California Health and Safety Code 14
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• District: means a fire protection district created pursuant to this part or created pursuant to any law which this part supersedes. See California Health and Safety Code 13802
• District board: means the board of directors of a district. See California Health and Safety Code 13802
• Employee: means any personnel of a district, including any regular or call firefighter hired and paid on a full-time or part-time basis, or any volunteer firefighter. See California Health and Safety Code 13802
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Expenses: means that portion of any rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees. See California Insurance Code 11730
• Experience rating: means a rating procedure utilizing past insurance experience of the individual policyholder to forecast future losses by measuring the policyholder's loss experience against the loss experience of policyholders in the same classification to produce a prospective premium credit, debit, or unity modification. See California Insurance Code 11730
• Insurance: means workers' compensation insurance and employer's liability insurance incidental thereto and written in connection therewith. See California Insurance Code 11750.1
• Insurer: means every insurer authorized to transact workers' compensation insurance and employer's liability insurance incidental thereto and written in connection therewith in this state, including the State Compensation Insurance Fund. See California Insurance Code 11750.1
• Market: means the interaction between buyers and sellers of workers' compensation insurance within this state pursuant to the provisions of this article. See California Insurance Code 11730
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• Pure premium rate: means that portion of the rate which represents the loss cost per unit of exposure, including loss adjustment expense. See California Insurance Code 11730
• Rate: means the cost of insurance per exposure base unit, prior to any application of individual risk variations based on loss or expenses considerations and does not include minimum premiums. See California Insurance Code 11730
• Rating organization: means an entity licensed by the commissioner pursuant to Section 11751. See California Insurance Code 11730
• Rating organization: means any organization which has as its primary object or purpose the collecting of loss and expense statistics and other statistical information and data, the making of pure premium rates and those rating plans authorized by Section 11734 for workers' compensation insurance and employer's liability insurance incidental thereto and written in connection therewith and presenting them to the commissioner for approval. See California Insurance Code 11750.1
• Resident: means residing in this State, "nonresident" means not residing in this State. See California Insurance Code 30
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Statistical plan: means the plan, system, or arrangement used in collecting data. See California Insurance Code 11730
• Supplementary rate information: means any manual or plan of rates, classification system, rating schedule, minimum premium, policy fee, rating rule, rating plan, and any other similar information needed to determine the applicable premium for an insured. See California Insurance Code 11730
• Supporting information: means the experience and judgment of the filer and the experience or data of other insurers or organizations relied on by the filer, the interpretation of any statistical data relied on by the filer, descriptions of methods used in making the rates, and any other similar information required to be filed by the commissioner. See California Insurance Code 11730