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48. What is the labor insurance experience rate for occupational accident? Why is this rate system implemented?

  1. As of January 1, 2010, the labor insurance experience rate for occupational accident is categorized into two types: Business Category Accident Premium and On and Off Duty Accident Premium. For the insured units that employ a certain number of employees (currently 70 employees), the Business Category Accident Premium rate in the former paragraph will use experience rate schedule, which is calculated and adjusted annually by the insurer using the percentage of the total amount of occupational accident insurance benefit paid in the former three years to the total payable amount of occupational accident insurance premium payable according to the following regulations: For those exceeding 80% of the total payable amount of occupational accident insurance premium payable, 5% of the applicable business category of occupational accident insurance premium rate will be additionally charged for every 10% increase until the premium rate reaches the 40% upper limit. For those lower than 70% of the total payable amount of occupational accident insurance premium payable, 5% of the applicable business category of occupational accident insurance premium rate will be deducted for every 10% decrease. The Business Category Accident Premium is calculated and adjusted every year. The three-year period described in the preceding sentence refers to the three years previous to January 1 of the year before the adjusted experience rate takes effect each year. For example, the calculation period for the new premium rate effective on January 1, 2019 is 2015, 2016, 2017. These regulations shall not apply to insured units with a period of insurance shorter than the period prescribed in the preceding paragraph.
  2. The implementation of the occupational accident experience rate system is aimed at collecting more insurance premium from businesses that are associated with higher risk of occupational accident and less insurance premium from those that are associated with lower risk of occupational accident. Thus, employers are encouraged to improve their safety and health facilities and enhance the quality of their working environment, thereby preventing occupational accidents.
     
Last Update:2018-12-28
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