When you open or run a business, you need to determine whether workers’ compensation coverage is required. It probably is! How much is workers’ compensation insurance? The cost of workers’ compensation varies depending on the number of employees, how risky your business is, and whether any of your employees were injured in the past. It …
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Choose Your Insurance Broker Wisely
“When selecting a broker, biggest isn’t necessarily best.” One of the most important decisions a company makes is selecting their insurance broker. Most large companies have brokers rather than agents so they can obtain coverage from a number of different insurance carriers rather than just one. An agent is a representative of one insurance company. …
“Pay As You Go” Workers’ Compensation Programs
Weekly or Monthly Payment Plans for Workers Comp The payment of a large annual lump sum or even quarterly payments for workers’ compensation insurance coverage can be an expense that is difficult to budget for. The cost of buying work comp coverage is based on an estimate of annual payroll at the inception of the …
What Happens After You Buy Workers’ Comp Insurance?
After your workers’ compensation policy is purchased you can rest assured that your financial obligations for a work-related injury claim will be met and associated expenses paid, however, there’s still work to be done. 1. Read Your Policy This is a contract and you should understand your obligations and the provisions. Talk with your agent …
The Cost of Workers’ Compensation Insurance
While the cost of workers’ compensation insurance varies from state to state, the process to calculate the cost is about the same for all states. The key factors in the cost of work comp insurance for a business include: The amount of payroll for the company The frequency and severity of injuries The risk classification …
On Foreign Ground: Insuring and Protecting Your Employees Abroad
By Rebecca A. Shafer – November 2009 With globalization and international trade increasing, more U.S.-based organizations are sending their employees to other countries on both short- and long-term assignments. For these employers, making sure their employees have appropriate workers compensation and liability insurance is as important as ensuring their physical security or that their vaccinations …
