COMPUTER SYSTEM AND METHODS FOR SUPPORTING WORKERS' COMPENSATION/EMPLOYERS LIABILITY INSURANCE

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.