Underwriting Guidelines

To receive a new business quote or to receive information on our new rates, please contact us at 1-800-252-5059 ext.1309 or email us at krfsif@ccmsi.com

• Operations must engage in retail trade or related business. Excluded operations include, but are not limited to: Agricultural, Blasting, Heavy Construction, Drilling, Hazardous Waste Operations, Restaurant Delivery, Roofing and Trucking. (Please see class codes list for further information)
  
• The prior three year’s average loss ratio should be 64% or less.
  
• Mod must be under 1.25.
  
• Must have been in operation for at least 5 years.
  
• Applications not meeting the underwriting criteria may be approved by the
  KRF-SIF and the excess carrier.
  
• In order to receive coverage with the KRF-SIF, the employer company must be a member in good standing of the Kentucky Retail Federation. Quotes may be provided prior to the employers joining the Federation. However, in order for the Fund to write coverage, the company must join the Federation.

Underwriting Specifications

• Completed, signed ACORD Application
  
• Copies of the last 4 years annual payroll audits or UI-3 form or 941s for the last 4 years if no NCCI Experience Mod Worksheet is available.
  
• A copy of the current NCCI Experience Mod Worksheet or the equivalent.
  
• Latest 3 year loss runs valued within 6 months of proposed effective date.
  
• Employee Concentration Supplemental Application. Provide number of
  employees by location, if more than 200 employees at one location.
  
• Company narrative or brochure
  
• A current certification or financial statement must be provided prior to a
  quotation being released.

Class Act

As part of KRF-SIF’s ongoing process to ensure quality and competitiveness
within the market, we have recently re-evaluated our rate structure as well as adding
new class codes. Following is a comprehensive list of the approval codes that the Fund can bind workers’ comp coverage for: Click for APPROVAL CODES