Insurance Premiums Order (Retro-Paid Loss Premium Method) 2015–2016
5Classification of large employers
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5 Classification of large employers
5 Classification of large employers
An employer is classified as a large employer under this Order if:
(a) the basic tariff premium of the employer for an insurance policy at the time at which the insurer demands a premium for the policy:
(i) exceeds $500,000 (where the period of insurance to which the premium relates is 12 months), or
(ii) would exceed $500,000 (where the period of insurance to which the premium relates is not 12 months) if that premium was calculated using a period of insurance of 12 months, or
(b) the employer is a member of a group of which at least one member satisfies paragraph (a).