Worker's Compensation Insurance

33 Producer A term used by the insurance industry to refer to agents, brokers, broker-agents, and solicitors. Pro Rata Cancellation A cancellation of a policy by an insurance company that returns the unearned premium to the policyholder (the portion of the premium for the remaining time period that the policy will not be in force). Provisions The statement of policy conditions in an insurance policy. Qualified Medical Evaluator (QME) Appointed and regulated by the DWC’s Medical Unit, a QME assesses an injured worker’s permanent impairment and limitations and evaluates a wide variety of disputed medical-legal issues. Often, a QME performs a separate medical evaluation when the treating physician’s assessment is disputed. Quotation An estimate of the cost of insurance based on the information supplied to the agent, broker, broker- agent, or the insurance company. Regulations Requirements developed by the CDI that implement laws passed by the legislature. Regulations go through a public comment process and must be approved by the state Office of Administrative Law. Reinstatement The restoration of a lapsed or canceled policy.