Risk Control Management
Assignment 7 The objective of Assignment #7 is to demonstrate the understanding of standard industrial classifications codes as it relates to the workers compensation rates and resulting premium calculations. The assignment requires the ability to access resources to identify Industry Codes, Workers Compensation (WC) Classifications, associated Workers Compensation rates, and perform Permanent Partial Disability (PPD) benefit calculations. The student may use a state of their choice in completing this assignment. Listed are links discussed during class for the State of Wisconsin. https://www.wcrb.org/class-code-lookup/Links to an external site. Identify three (3) industries that provide very different products or services. In addition to 8810, select four (4) workers compensation classification codes that may be found within each industry selected. Summarize the class code description and list the workers’ compensation rates for years 2018 through 2023 of the five (5) workers compensation classification codes. 30 points. https://dwd.wisconsin.gov/wc/medical/ppd-schedule.htmLinks to an external site. Using the information provided, calculate the Permanent Partial Disability (PPD) benefit an injury worker would received given the injury listed. Assume the AWW is $900.00. Based on the AWW, calculate the weekly benefit rate provided by workers compensation. Using the weekly benefit rate, calculate the PPD benefit for the following injuries. 30 points 1. 50% loss of use to the 2nd joint of right index finger. 2. 100% loss of the left proximal little finger. 3. 25% loss of the right arm at the shoulder. 4. 100% loss of the left proximal little toe. 5. Total deafness of the right ear from a workplace accident. 6. 10% PPD rating by the doctor to the body as a whole. Helpful hint: Do not use AWW in the calculation of the PPD benefits.
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