Common use of Experience Review Clause in Contracts

Experience Review. The committee will meet every six months to review the financial experiences subsequent to the date of the signing of this Collective Agreement, under these coverage’s. The specifications for tender will describe the information to be included in the semiannual financial statements to be prepared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claims, the retention elements of commissions, taxes, administrative expenses, contingency reserve charges and interest credits on claim and other reserves. The insurance carrier(s) will also be required to report on the level and method of administering the Employer’s and Employees’ deposit accounts. The Committee shall request the insurance carrier(s) to provide such additional information for the committee’s consideration as may be required by either the Employer or the Union. If the Joint Insurance Benefits Review Committee fails to agree on a recommendation to the Board on the selection of the insurance carrier(s) to underwrite the Employee Benefit Plan, the members of the said Committee nominated by the Employer and the Union may each make a recommendation in writing to the Board on the selection of the insurance carrier(s) supported by reasons for their respective recommendations. It is understood that the Board at all times retains the right to select whatever carrier(s) (to underwrite the Employee Benefit Plan) it may consider would best serve the “public interest” and, in so doing, is under no obligation to select a carrier(s) that may be recommended by the Joint Insurance Benefits Review Committee. Note: The word “Board” refers to the Corporate Board of the Workplace Safety & Insurance Board, Ontario.

Experience Review. The committee will meet every six months to review the financial experiences subsequent to the date of the signing of this Collective Agreement, under these coverage’scoverages. The specifications for tender will describe the information to be included in the semiannual financial statements to be prepared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claims, the retention elements of commissions, taxes, administrative expenses, contingency reserve charges and interest credits on claim and other reserves. The insurance carrier(s) will also be required to report on the level and method of administering the Employeremployer’s and Employeesemployees’ deposit accounts. The Committee shall request the insurance carrier(s) to provide such additional information for the committee’s consideration as may be required by either the Employer or the Union. If the Joint Insurance Benefits Review Committee fails to agree on a recommendation to the Board on the selection of the insurance carrier(s) to underwrite the Employee Benefit Plan, the members of the said Committee nominated by the Employer and the Union may each make a recommendation in writing to the Board on the selection of the insurance carrier(s) supported by reasons for their respective recommendations. It is understood that the Board at all times retains the right to select whatever carrier(s) (to underwrite the Employee Benefit Plan) it may consider would best serve the “public interest” and, in so doing, is under no obligation to select a carrier(s) that may be recommended by the Joint Insurance Benefits Review Committee. Note: The word “Board” refers to the Corporate Board of the Workplace Safety & Insurance Board, Ontario.

Experience Review. The committee will meet every six months to review the financial experiences subsequent to the date of the signing of this Collective Agreement, under these coverage’scoverages. The specifications for tender will describe the information to be included in the semiannual semi-annual financial statements to be prepared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claims, the retention elements of commissions, taxes, administrative expenses, contingency reserve charges and interest credits on claim and other reserves. The insurance carrier(s) will also be required to report on the level and method of administering the Employer’s 's and Employees’ employees' deposit accounts. The Committee shall request the insurance carrier(s) to provide such additional information for the committee’s 's consideration as may be required by either the Employer or the Union. If the Joint Insurance Benefits Review Committee fails to agree on a recommendation to the Board on the selection of the insurance carrier(s) to underwrite the Employee Benefit Plan, the members of the said Committee nominated by the Employer and the Union may each make a recommendation in writing to the Board on the selection of the insurance carrier(s) supported by reasons for their respective recommendations. It is understood that the Board at all times retains the right to select whatever carrier(s) (to underwrite the Employee Benefit Plan) it may consider would best serve the “"public interest” " and, in so doing, is under no obligation to select a carrier(s) that may be recommended by the Joint Insurance Benefits Review Committee. Note: The word “"Board” " refers to the Corporate Board of the Workplace Safety & Insurance Board, Ontario.

Experience Review. The committee will meet every six months to review the financial experiences subsequent to the date of the signing of this Collective Agreement, under these coverage’scoverages. The specifications for tender will describe the information to be included in the semiannual financial statements to be prepared by the insurance carrier(s). These statements will include paid premiums, paid claims, changes in reserve requirements for open and for unreported claims, incurred claims, the retention elements of commissions, taxes, administrative expenses, contingency reserve charges and interest credits on claim and other reserves. The insurance carrier(s) will also be required to report on the level and method of administering the Employer’s employer's and Employees’ employees' deposit accounts. The Committee shall request the insurance carrier(s) to provide such additional information for the committee’s 's consideration as may be required by either the Employer or the Union. If the Joint Insurance Benefits Review Committee fails to agree on a recommendation to the Board on the selection of the insurance carrier(s) to underwrite the Employee Benefit Plan, the members of the said Committee nominated by the Employer and the Union may each make a recommendation in writing to the Board on the selection of the insurance carrier(s) supported by reasons for their respective recommendations. It is understood that the Board at all times retains the right to select whatever Collective Agreement Between WCB & CUPE, Local 1750 carrier(s) (to underwrite the Employee Benefit Plan) it may consider would best serve the “"public interest” " and, in so doing, is under no obligation to select a carrier(s) that may be recommended by the Joint Insurance Benefits Review Committee. Note: The word “Board” refers to the Corporate Board of the Workplace Safety & Insurance Board, Ontario.