The new definition of “adjusted rate”: a brief summary

We’ve begun the testing phase of our new policy and billing system, with a planned implementation for new business late this year. We’ll begin converting renewal policies over to the new system in early 2019, at the time of their renewals.

Here are a few changes you’ll be seeing:

• What is known as “adjusted rate” will be redefined and include class rate, modifiers, discount, terrorism, catastrophe, and DCBS assessment. What does this mean? A more simplified payroll report for policyholders.
• Renewal document printing | Yes, you'll see the full policy at renewal! 
• “Arrears reporting” will be called “premium reporting.”

Over the course of this year we’ll continue to update you on the progress of our work. Throughout the transition, SAIF is committed to continuing our strong partnership with agents and providing exceptional service to our policyholders and injured workers.