Assigned Risk Mandatory Loss Sensitive Rating Plan (LSRP)

Factors used to calculate the LSRP
Basic premium factor 0.300 LSRP development factors:
Loss conversion factor 1.125 First adjustment 0.17
Tax multiplier 1.028 Second adjustment 0.03
Third adjustment 0.00
 
Minimum premium factor: Maximum premium factor:
Not certified in MIMP. Premium $250,000 and greater.
0.750 Premium $250,000 & greater 1.75
 
Business certified in MIMIP. Premium $250,000 and greater. 0.650
LSRP factors

Basis of premium applicable in accordance with the footnote instructions for Code 7370 — Taxicab Co.:

Employee-operated vehicles

$61,500

Leased or rented vehicles

$41,000

Expense constant applicable in accordance with Basic Manual Rule 3-A-11

$240

Maximum payroll applicable in accordance with the Basic Manual footnote instructions for:

Code 9178: Athletic sports or park: non-contact sports,
Code 9179: Athletic sports or park: contact sports, and
Code 9186: Carnival—traveling

$800

Per passenger seat surcharge in accordance with the Basic Manual footnote instructions for Classification Code 7421, the surcharge is:

Per passenger seat

$100

Maximum surcharge per aircraft  

$1,000

Premium determination for executive officers, members of limited liability companies, partners, and sole proprietors in accordance with Basic Manual Rule 2-E

$36,900

Terrorism Risk Insurance Act—certified losses

0.02

U.S. Longshore and Harbor Workers' Compensation coverage percentage applicable only in connection with Basic Manual Rule 3-A-4

52%

(Multiply a non-F classification rate by a factor of 1.52)

 

Experience rating eligibility
A risk is eligible for intrastate experience rating when the payrolls or other exposures developed in the last year or last two years of the experience period produced a premium of at least $7,000. If more than two years, an average annual premium of at least $3,500 is required. Page A-1 of the Experience Rating Plan Manual should be referenced for the latest approved eligibility amounts by state.