Official Puerto Rico Website[include file=menu-adsense-tower.htm] [Editor Note: The information contained below was last updated in 2011 and is currently outdated. New laws are passed and changed frequently. This information is provided for general educational purposes only, IT IS NOT INTENDED TO PROVIDE LEGAL OR OTHER PROFESSIONAL ADVISE. Always consult your legal or medical professionals …
Archives for 2012
Workers Compensation Directory: Service Providers to Help Achieve Your Goals
Specialists, Experts, and Professional Service Providers Attorneys Attorneys specializing in employer defense and helping employers reduce costs. Workers’ Comp Attorneys Audits Make sure your premium calculations, class codes and payroll audits are correct. WC Insurance Premium Audits Brokerage Services Access to brokerage services, including Coverage Analysis, Insurance Placement, Loss Control, Claim Advocacy, Global Risk Management …
Audio Podcast Archive
Workers’ Compensation Audio Podcasts WC OSHA Recordkeeping Standards Podcast: (opens in new window) Workers’ Compensation OSHA Recordkeeping Standards Topics include: OSHA’s National Emphasis Program on Injury and Illness Recordkeeping on Forms 300 and 300A Why all companies are affected by NEP’s program Potential for significant monetary consequences Potential for criminal liability for top management …
What Is Workers’ Compensation?
This is a general overview of workers’ compensation. State laws vary greatly and they change frequently, so make sure to check the law in your state for information specific to your state. Additional overview resource: Workers Comp FAQ. Workers’ Compensation Basics Chances are if you’re on this website, you’re an employer who’s looking for a …
Are All Workers Injuries Compensable?
Here's a checklist to help you determine if injuries are covered by workers comp. Injuries must meet five criteria to be covered: It's broken down like this: If the injured person is your employee, and… The employee has suffered an illness or injury… Which occurred in the course of employment… And arose out of the …
Managing the Workers Comp Process
Workers' compensation cost containment is a specialized field of risk management. This information is prepared by specialists in the field of workers' compensation cost containment. External Factors Affecting Workers' Comp Costs Workers' compensation costs are high because the injury process is not closely managed; therefore, there are too many claims lasting too long. There are …
Who Pays for Workers Comp Insurance?
We often mistakenly believe that the insurance company pays for injury losses and accident costs. This is not true. Although some companies have guaranteed cost insurance where all losses are covered, many companies have deductible coverage. This means that the insurance covers only huge catastrophic losses over the deductible amount, typically $500,000 or one million …
The Hidden Cost of Workers’ Compensation
The true cost of workers’ compensation (WC) includes a lot of hidden cost; the actual cost is much higher than the insurance premiums or benefits paid. An easy way to determine if your risk manager knows his/her job is to ask if they know the indirect costs of the workers’ compensation program. If the risk …
Lower Your Experience Modification Factor
Three factors go into the calculation of your workers’ compensation (WC) premium: The rate assigned to each payroll classification in your business, The total amount of your payroll for each classification, And your experience modification factor. Your workers’ compensation premium is calculated using the formula payroll classification X $100 of payroll X experience modification factor …
Who are the Workers Comp Players?
There are many parties involved in the injury management process: Employer Your company is the employer. An employer can also be referred to as the “insured.” Insurance Broker Your insurance broker understands the risks of your company and obtains insurance to cover those risks in the event of a loss. A broker reconciles problems between …
