In this issue, we continue featuring definitions to key workers' compensation insurance terms. We will continue highlighting a few new terms each week.
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| New Fund Claims |
Workers' compensation claims filed on or after July 1, 2005 and administered by BrickStreet. |
| Old Fund Claims |
Workers' compensation claims filed before July 1, 2005. BrickStreet subcontracted its old fund claims in 2006 and 2007. These claims are now administered by three companies under contract to the West Virginia Offices of the Insurance Commissioner and are no longer associated with BrickStreet. |
| Rule 20 |
This rule (found in West Virginia Code of State Regulations 85-20-1 et seq.) provides standardized guidelines and parameters for medical treatment, expected recovery times and ranges of permanent partial disability (PPD) awards for common injuries and diseases in order to better manage workers' compensation claims. |
| Third-party Administrator |
A company hired to manage workers' compensation claims. |