Computer system and methods for supporting workers' compensation/employers liability insurance

• US 6,604,080 B1
• Filed: 10/05/1994
• Issued: 08/05/2003
• Est. Priority Date: 10/30/1991
• Status: Expired due to Term

• Current Assignee: Lifecomp Incorporated
• Original Assignee: B&S Underwriters, Inc.
• Inventors: Kern, David G.
• Primary Examiner(s): Hafiz, Tariq R.
• Assistant Examiner(s): KALINOWSKI, ALEXANDER G
• Application Number:
  US08/338,350
• Time in Patent Office: 3,226 Days
• Field of Search: 364/401, 364/402, 364/406, 364/408, 395/147, 395/202, 395/203, 395/204, 395/235, 395/238, 705/2, 705/3, 705/4, 705/35, 705/38, 705/507
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

An automated system and method of computing rates to be charged for insurance coverage equivalent to that provided by a standard workers'"'"' compensation policy includes coordinating a workers'"'"' compensation insurance policy with an employers liability insurance policy to provide the coverage of a standard workers'"'"' compensation policy; determining one set of rates for insuring employees in pre-determined employment classifications for the workers'"'"' compensation policy and another set of rates for insuring the employees in other pre-determined employment classifications for said employers liability coverage; entering the sets of rates in a memory accessible by a digital computer; computing with the digital computer a first number, representing the amount of premium to be paid for workers'"'"' compensation coverage, by multiplying an employer'"'"'s payroll for the employees in a one of the pre-determined employment classifications times a corresponding rate from the one set of rates, and computing with the digital computer a second number, representing the amount of premium to be paid for employers liability coverage, by multiplying the employer'"'"'s payroll for employees in a one of the other pre-determined employment classifications times a corresponding rate from the second set of rates, to compute the rates to be charged for insurance coverage equivalent to that provided by the standard workers'"'"' compensation policy.

Claims

1. A digital electrical computer system controlled by a program to compute one premium for the workers'"'"' compensation benefit coverage and a separate premium for the employers liability coverage, the system comprising:

a digital electrical computer controlled by a computer program in processing input electrical signals, the input electrical signals being produced in response to data entered at a data input device that is electrically connected to the digital electrical computer, the digital electrical computer also being electrically connected to an output device;

a memory, electrically connected to the digital electrical computer, storing a set of rates for at least part of workers'"'"' compensation benefit coverage and storing a second set of rates for at least part of employers liability coverage, both said rates corresponding to categories of work that can be done by employees under both of said coverages, both said coverages collectively satisfying all coverage requirements for workers'"'"' compensation in at least one state;

and wherein said

a digital electrical computer controlled by said computer program controls computing the one premium for the workers'"'"' compensation benefit coverage and the separate premium for the employers liability converge in response to at least one of said rates from both said sets of rates stored in said memory and to the data entered at said data input device, said data including an amount of payroll paid to the employees for work in at least one of the categories of work; and

wherein

the modified electrical signals produce a depiction of the premiums of the output device.

2. The system of claim 1, wherein said memory stores separate sets said sets of said rates for each of a plurality of states.

3. The system of claim 1, wherein said coverages are coordinated to provide coverage equivalent to a standard worker'"'"'s compensation insurance policy.

4. The system of claim 3, wherein said memory stores one set of both said rates for each of a plurality of states for selectably computing said premiums for a respective state.

5. A method of using a machine in computing premiums to be charged for multiple policy insurance coverage equivalent to that provided by a standard workers'"'"' compensation policy, the method comprising the steps of:

entering one set of rates for insuring employees in pre-determined employment classifications for a workers'"'"' compensation policy and another set of rates for insuring employees in said pre-determined employment classifications for an employers liability policy in a memory accessible by a digital computer programmed to compute respective premiums to be charged for insurance coverage under the policies and equivalent to coverage provided by a standard workers'"'"' compensation policy;

computing with said programmed digital electrical computer a first premium to be paid for the workers'"'"' compensation coverage, wherein said computing includes multiplying an employer'"'"'s payroll for the employees in one of the pre-determined employment classifications for the workers'"'"' compensation coverage times a corresponding rate from said one set of rates, and respectively computing with said programmed digital electrical computer a second premium to be paid for the employers liability coverage, wherein said respectively computing includes multiplying the employer'"'"'s payroll for the employees in one of the pre-determined employment classifications for the employers liability coverage times a corresponding rate from said second set of rates, and computing with said programmed digital electrical computer the premiums to be charged for insurance coverage equivalent to that provided by the standard workers'"'"' compensation policy.

6. A process for using a machine to use data entered for a first insurance policy in processing for a second insurance policy that collectively satisfy all statutory coverage requirements for worker'"'"'s compensation in at least one state without paying either a nongovernmental charge for an assessment or a nongovernmental charge for an assignment, the process comprising:

using a digital electrical computer system, including a processor electrically connected to memory, to input means, and to output means, programmed to receive multiple related insurance policy data at said input means, to store said multiple related insurance policy data in said memory, to process said multiple related insurance policy data into a predefined format, and to generate output data at said output means;

wherein said multiple related insurance policy data includes insurance policy-identifying data representing a first insurance policy and a second insurance policy, the insurance policies selected, sold together in sets, and related to collectively satisfy all statutory coverage requirements for worker'"'"'s compensation in at least one state without paying either a nongovernmental charge for an assessment or a nongovernmental charge for an assignment; and

wherein

said output data includes at least a portion of said multiple related insurance policy data presented in said predefined format.

7. The process of claim 6, further comprising the step of controlling the digital electrical computer system with said logic means to receive customer-identifying data for a respective one of the sets, and wherein said output includes at least a portion of said customer-identifying data in said predefined format.

8. The process of claim 7, wherein the customer-identifying information includes premiums paid.

9. The process of claim 7, wherein the customer-identifying information includes claims in a time period.

10. The process of claim 7, wherein the customer-identifying information includes losses paid.

11. The process of claim 7, wherein the customer-identifying information includes reserves.

12. The process of claim 7, wherein the customer-identifying information includes an insurance history.

13. The process of claim 7, wherein the customer-identifying information includes a customer-specific adjustment to a cost for purchasing said insurance policies.

14. The process of claim 7, further comprising the step of controlling the digital electrical computer system with said logic means to receive agent-identifying data for both of the insurance policies in one of the states, the agent-identifying data including the identity of an agent for both said insurance policies.

15. The process of any one of claims 6-14, further comprising the step, subsequent to the step of providing but prior to the step of controlling, directing the digital electrical computer system with said logic means to compute respective premiums from the respective rates for each said insurance policy in one of the sets.

16. The process of claim 15, wherein at least one of the insurance policies in the set has a carrier that is not a property and casualty company.

17. A process using a computerized data processing system programmed to use data to produce a customized application form for at least a portion of multiple insurance policy worker'"'"'s compensation coverage, the process comprising the steps of:

storing in an electrical data processing system comprised of a digital electrical computer connected to electrically communicate with a key board, a memory, and a printer, a template and a respective application form for a first insurance policy for use in combination with at least a second insurance policy, said insurance policies collectively satisfying all statutory coverage requirements for workers'"'"' compensation in at least one state without paying a nongovernmental assessment or a nongovernmental assignment;

controlling said digital electrical computer with a program to receive data input at said key board to insert said data into the first template to produce a first customized application form for said first policy.

18. The process of claim 17, further comprising the step of controlling said programmed digital electrical computer to store the first customized application form in the memory.

19. The process of claim 17, further comprising the step of controlling said programmed digital electrical computer to receive a second input insurance application form template for said second insurance policy, the second template being input at the key board and stored in the memory, and further controlling said programmed digital electrical computer to receive further data, to insert said further data into the second template to produce a second customized application form, and to print said second customized application form at said printer.

20. The process of claim 19, wherein said step of further controlling said programmed digital electrical computer to receive further data includes obtaining the data used in completing the first application form.

21. The process of claim 19, further comprising the step of further controlling said programmed digital electrical computer to receive at said key board customer data, to store the customer data in said memory, and to use said customer data in completing both the first customized application form and the second customized application form.

22. The process of claim 19, further comprising the step of controlling said programmed digital electrical computer to store the first customized application form in the memory and to store the second customized application form in the memory.

23. A process for using a machine to use data entered for a first insurance policy in processing for a second insurance policy that collectively satisfy all statutory coverage requirements for worker'"'"'s compensation in at least one state without paying a National Council on Compensation Insurance charge, the process comprising:

in an digital computer system including a digital electrical computer electrically connected to memory, to input means, and to output means, controlling the system, with a program to perform the step of generating a first premium as output at said output means, wherein the generating includes computing the first premium from a first set of rates entered at the input means, the rates being those for a first insurance policy and to perform the step of generating a second premium as output at said output means, wherein the generating includes computing the second premium from a second set of rates entered at the input means, the rates being those for a second insurance policy;

wherein said first insurance policy and said second insurance policy are selected for use in combination such that the insurance policies collectively provide a coverage satisfying all statutory requirements for workers'"'"' compensation in at least one state; and

wherein at least one of said premiums does not include a National Council on Compensation Insurance charge.

24. The process of claim 23, wherein the steps of controlling the computer system with logic means are carried out such that a total formed from addition of the premium computed for the first insurance policy plus the premium computed for the second insurance policy is less than an amount corresponding to a premium for the coverage by a standard workers'"'"' compensation policy approved in the same state as the first insurance policy and the second insurance policy, the total being less than the amount due to an absence of a computing step in which the National Council on Compensation Insurance charge is added in forming the total.

25. A process for using a machine to use data entered for a first insurance policy in processing for a second insurance policy that collectively satisfy all statutory coverage requirements for worker'"'"'s compensation in at least one state without computing either a private assessment charge or a private assignment charge, the method comprising:

controlling a digital electrical computer system including a processor electrically connected to memory, to input means, and to output means, with a program to perform the step of generating a first premium as output at said output means, wherein the step of generating includes computing a first premium from a first set of rates for said first insurance policy combined with at least a second insurance policy to collectively satisfy statutory coverage requirements for workers'"'"' compensation in at least one state, and wherein the generating is carried out without computing either a private assessment charge or a private assignment charge.

26. The process of claim 25, wherein the computing the first premium includes multiplying an employer'"'"'s payroll for the employees in at least one pre-determined employment classification times a corresponding one of the first set of rates to produce a respective product.

27. The process of claim 25, wherein the computing is carried out for a plurality of employment classifications such that a plurality of respective products are produced, and includes forming a sum of the products, using the sum to form a subtotal, and reducing the subtotal to determine the premium as adjusted to reflect a discount.

28. The process of claim 25, wherein the computing is carried out for a plurality of employment classifications such that a plurality of products are produced, and includes forming a sum of the products, using the sum to form a subtotal, and reducing the subtotal to determine the premium as adjusted to reflect a credit.

29. The process of claim 25, wherein the computing is carried out for a plurality of employment classifications such that a plurality of products are produced, and includes forming a sum of the products, using the sum to form a subtotal, and increasing the subtotal to determine the premium and a tax.

30. The process of claim 25, wherein the computing is carried out for a plurality of employment classifications such that a plurality of products are produced, and includes forming a sum of the products, using the sum to form a subtotal, and increasing the subtotal to determine the premium as adjusted to reflect a fee.

31. The process of claim 25, wherein the computing is carried out for a plurality of employment classifications such that a plurality of products are produced, and includes forming a sum of the products and using the sum to form a subtotal, the subtotal being optionally adjustable.

32. The process of any one of claims 25-31, further comprising the step of controlling the computer system with logic means to perform the step of generating a second premium as output at said output means, wherein the generating includes computing the second premium from a second set of rates entered at the input means, the rates being those for the second insurance policy.

33. The process of claim 32, wherein said steps of generating the first premium and of generating the second premium both include multiplying an employer'"'"'s payroll for the employees in a pre-determined employment classification of the first insurance policy times one of the rates to produce a respective product.

34. The process of claim 32, further comprising the step of controlling the computer system with the logic means to calculate a set of deposit premiums for a customer purchasing a set of the first insurance policy and the second insurance policy.

35. The process of claim 32, wherein said process is carried out for one of said insurance policies being an accident, health, and life insurance policy.

36. A process for making an electrical digital computer system programmed to generate output including a premium for a first insurance policy and a premium for a second insurance policy for combined coverage that collectively satisfies all statutory coverage requirements for workers'"'"' compensation in at least one state without paying either a nongovernmental charge for an assessment or a nongovernmental charge for an assignment, the process comprising the steps of:

providing a processor electrically connected to a memory, to input means, and to output means in forming a digital electrical computer system;

programming said processor for controlling the digital computer system to receive multiple related insurance policy data at said input means, to store said multiple related insurance policy data in said memory, to determine from said multiple related insurance policy data a premium for the first insurance policy and a premium for the second insurance policy for collective coverage that satisfies all statutory coverage requirements for workers'"'"' compensation in at least one state without paying either a nongovernmental charge for an assessment or a nongovernmental charge for an assignment, and to generate output data including said premiums at said output means.

37. The process of claim 36, further comprising the step of:

programming said processor with the logic means to store in said memory employment classifications for both said insurance policies, the rates for the first insurance policy, and the rates for the second insurance policy; and

wherein said computing a premium for the first insurance policy includes accessing said memory to designate a first selected rate and multiplying an input employer'"'"'s payroll for employees in at least one of the employment classifications times the first selected rate to produce a product for the first premium and wherein said computing the second premium includes accessing said memory to designate a second selected rate and multiplying the employer'"'"'s payroll for the employees in a pre-determined employment classification times the second selected rate to produce a second product for the second premium.

38. A method for computing premiums to be charged for multiple insurance policy coverage equivalent to that provided by standard worker'"'"'s compensation policy coverage, the method including the steps of:

computing a premium to be charged for coverage under the worker'"'"'s compensation insurance policy from rates for insuring employees in employment classifications for a worker'"'"'s compensation policy;

computing a premium to be charged for the employer'"'"'s liability insurance policy from rates for insuring employees in employment classifications for an employer'"'"'s liability insurance policy;

wherein said steps of computing are carried out digitally with at least one program to control producing the premiums to be charged for the insurance policy coverage to be equivalent to that provided by said standard worker'"'"'s compensation coverage.

39. The method of claim 38, wherein the steps of computing the premiums do not include a portion for payment of a nongovernmental payment either for an assessment or for an assignment.