A Holistic Blueprint: Designing, Implementing and Controlling Workers’ Compensation Costs Due to the unique and complex nature of the workers’ compensation system, only a holistic approach — one considering all elements within context can succeed in reducing an employer’s workers’ comp costs. Employers, insurers and brokers working together have strong incentives to [...]
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Workers? Compensation and the Holistic Approach
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Buying Workers? Compensation Insurance: 18 Pieces Of Documentation Needed Before Policy Shopping
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Before shopping for a workers’ compensation insurance policy, FIRST get all your supporting paperwork in order and keep it in one place. Use an Excel spreadsheet as the spreadsheet is useful tool down the line when the times comes to calculate rates and premiums. 1. Payroll Reports Payroll reports showing how much employees are paid [...]
Buying Workers? Compensation Insurance: Two Key Factors To Consider
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Experience Modification Factor An employer’s Experience Modification Factor (“mod”) is an important number in a premium calculation and tells a story in and of itself. This is truly a modification factor because an employer’s rate or premium is modified or adjusted up or down based upon the factor. NCCI, the National Council on Compensation Insurance [...]
Common Workers Compensation Insurance Questions for Small Business Owners
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What is workers’ compensation insurance? Workers’ compensation insurance covers your employees’ medical and disability expenses related to work-related illness and on-the-job injuries. Employers’ liability coverage, which is normally included on a workers’ comp policy, protects your company by paying legal fees and any awarded settlements should an employee sue you, claiming that an illness or [...]
What Everyone Should Know About Selecting an Auto Insurance Provider
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Now that most states require a certain level of car coverage for you to drive legally, buying auto insurance is no longer something that you can put off or refuse to do. There are a number of important considerations, the first of which is that you should shop first for an insurance company, and then [...]
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