Which factor is NOT used to calculate Workman's Compensation premiums?

Workman's Compensation premiums are determined based on several key factors that help assess the risk and cost associated with insuring a business's employees against work-related injuries and illnesses. These factors usually include the type of business, the size of the payroll, and comparisons with similar employers in the industry.

The type of business is crucial because different industries have varying levels of risk associated with them; for example, construction generally has higher premiums than an office-based business due to the higher likelihood of workplace injuries. The size of the payroll is also a significant factor since larger payrolls may indicate more employees and potentially greater exposure to risk. Furthermore, comparing a business with similar employers gives insurers a benchmark to determine premiums based on industry standards and risk profiles.

In contrast, employee vacation days do not play a role in calculating these premiums. Vacation days are part of employee benefits and do not influence the likelihood or severity of workplace injuries or the overall payroll risk assessment. Therefore, this factor is not relevant to the calculation of Workman's Compensation premiums.