Hartford Accident & Indemnity Company, Appellant/cross-Appellee v. Pro-Football, Inc., D/B/A Washington Redskins, Appellee/cross-Appellant

Opinion for the Court filed by Circuit Judge STEPHEN F. WILLIAMS.

Concurring opinion filed by Circuit Judge WALD.

STEPHEN F. WILLIAMS, Circuit Judge:

This case deals with a so-called “retrospective rating” insurance policy, evidently a type common for workers’ compensation. The insured employer pays an estimated premium, which is typically based on data about the insured’s payroll and the classifications of its employees for risk purposes, and which is subject to later correction. The classifications of course vary radically by activity; here, for example, the initial rate per $100 of payroll…