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Class Assignment
Within ISCC, membership is divided into two distinct classes designated Class A and Class B.
Class A consists of those Members who at the time first accepted into membership have an annual manual Massachusetts workers' compensation premium less than three hundred fifty thousand dollars ($350,000) and/or who have a total endowment fund balance less than two hundred million dollars ($200,000,000).
Class B consists of those Members who at the time first accepted into membership have an annual manual Massachusetts workers' compensation premium equal to or greater than three hundred fifty thousand dollars ($350,000) and whose total endowment fund balance is equal to or greater than two hundred million dollars ($200,000,000).
For purposes of determining Member class, manual premium means the sum total for all applicable payroll classifications of the premiums developed by multiplying the approved rate for each payroll classification by the payroll in $100s assignable to that payroll classification. A new member is accepted into the group as a Class A or a Class B Member based upon these criteria.
After initial acceptance, Members are not transferred between Classes.
Further information about the two membership classes is available in the group's Application and Indemnity Agreement and By-Laws.
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