Kentucky Statutes 342.827 – Statistical and actuarial data to be maintained
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The manager shall compile and maintain statistical and actuarial data related to the determination of proper premium rate levels, the incidence of work-related injuries, costs related to those injuries, including medical and indemnity, and other data necessary for the development of fair and equitable rates and rating plans.
Effective: April 4, 1994
History: Created 1994 Ky. Acts ch. 181, Part 12, sec. 52, effective April 4, 1994.
Effective: April 4, 1994
Terms Used In Kentucky Statutes 342.827
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- premium: includes the initial consideration plus any reimbursements invoiced for losses, expenses, or fees charged under the deductibles. See Kentucky Statutes 342.0011
History: Created 1994 Ky. Acts ch. 181, Part 12, sec. 52, effective April 4, 1994.