Assigned Risk: WCIP & Articles of Agreement

The Articles of Agreement are included in the Workers Compensation Insurance Plan (WCIP).

Workers Compensation Insurance Plan

The ICRB’s filed set of rules and requirements for policy handling operations within the assigned risk market. This set of rules is called the Workers Compensation Insurance Plan (WCIP), also known as the assigned risk plan. The Indiana Plan and subsequent revisions are submitted as item filings, to the Indiana Department of Insurance for approval. Some filings deal with minor form and endorsement changes. Others can be more significant and impact class codes or experience ratings.

Articles of Agreement

An agreement that sets forth the framework for participation in the Indiana Pool reinsurance mechanism.
The Articles assure that all insurance companies are “reinsurers as among themselves” as required by Indiana law (IC 27-7-2-29). This agreement is a contract among all insurance companies who join the Indiana Pool. The Articles guarantee that the few servicing carriers who do all the work are reinsured (losses are shared) by all carriers in the state.

The full text of the WCIP and the Articles of Agreement currently appear in the NCCI Basic Manual Indiana Workers Compensation Insurance Plan of Operation for the Indiana Assigned Risk Reinsurance, available on NCCI’s website. There are twelve articles to the agreement.

NCCI’s Manuals Library