The following words and terms, when used in this
subchapter, have the following meanings, unless the context clearly indicates
otherwise:
Act-The Workers' Compensation Act
(77 P. S. §§
1-1038.2).
Basis of premium-The basis for the
computation of an employer's workers' compensation insurance premium, such as
employe remuneration paid by the employer.
Bureau-The Bureau of Workers' Compensation
of the Department.
Compensation--Compensation as defined in
section 901 of the act (77 P. S. §
1037.1).
Custodial accounts-The two distinct and
separate accounts of the guaranty fund established under section 902(c) of the
act (77 P. S. §
1037.2(c)). One account is
to be used exclusively to pay benefits arising from defaulting individual
self-insurers and one account is to be used exclusively to pay benefits arising
from defaulting group self-insurance funds.
Default-The failure of a self-insurer to
pay compensation due to the self-insurer's financial inability or the
self-insurer filing for bankruptcy or being declared bankrupt or
insolvent.
Department-The Department of Labor and
Industry of the Commonwealth.
Employer-An employer as defined in section
901 of the act.
Guaranty fund-The guaranty fund as defined
in section 901 of the act.
Manual premium-The sum of an employer's
basis of premium for each classification for the 12-month period immediately
prior to the effective date of its individual self-insurance status under
section 305 of the act (77 P. S. §
501) or of its membership in a group
self-insurance fund under Article VIII of the act (77 P. S. §§
1036.1-1036.18) multiplied by the applicable
SWIF rate in effect at the time of the issuance of the insurance policy
immediately prior to the employer's individual self-insurance status or its
membership in a group self-insurance fund.
Modified manual premium-An employer's
manual premium multiplied by its experience modification factor for the
insurance policy immediately prior to the employer's individual self-insurance
status or its membership in a group self-insurance fund, before adjustments or
discounts.
New group self-insurance fund-A group
self-insurance fund initiating operation under the act.
New individual self-insurer-An employer
operating as a self-insurer under its first permit, including an employer
operating as a self-insurer under its first permit following the lapse of a
previous period of self-insurance.
Occupational Disease Act-The Pennsylvania
Occupational Disease Act (77 P. S. §§
1201-1603).
Runoff group self-insurance fund-A group
self-insurance fund which voluntarily terminated the permit issued to it under
Article VIII of the act or a group self-insurance fund whose permit was revoked
by the Bureau.
Runoff individual self-insurer-An employer
that had been a self-insurer under section 305 of the act (77 P. S. §
501) and section 305 of the Occupational
Disease Act (77 P. S. §
1405) but no
longer maintains a current permit.
Security-Security as defined in section
901 of the act.
Self-insurer-A self-insurer as defined in
section 901 of the act, including a runoff individual self-insurer and a runoff
group self-insurance fund.
Self-insurer accounts-Individual
segregated subaccounts of the custodial accounts for the deposit of funds
received from security demanded under section 904(d)(2)(ii) of the act
(77 P. S. §
1037.4(d)(2)(ii)).
SWIF-The State Workers' Insurance
Fund.
SWIF rate-The amount per unit of exposure
which SWIF charges for insurance, calculated by multiplying the lost cost
charge for a classification by the SWIF lost cost multiplier.
