Are there any state required fees/surcharges?
Yes, in some states we are required to charge the following fees:
- Administrative Surcharge – Missouri law requires MEM to collect and forward this surcharge to the state.
- Catastrophe Surcharge – This charge covers the losses that may occur in the event of catastrophe (other than Certified Acts of Terrorism) as defined in your policy.
- Illinois WC Commission Operations Surcharges (IOC) – Illinois law requires Previsor to collect and forward this surcharge to the Illinois Department of Insurance.
- Missouri Second Injury Fund Surcharge (SIF) – Missouri law requires MEM to collect and forward this surcharge to the state. The rate is determined annually by the Department of Labor, Division of Workers’ Compensation.