More workers compensation claims and larger workers compensation claims means premiums go up. Having programs in place to get people back to work as quick as possible quick premiums as low as possible.
Saving on Your Bottom Line: Workers Comp
I am often approached by business owners throughout the Capital Region for advice on how to ease the cost of workers comp insurance, particularly in this economic downturn. My advice is always the same; the best way to save is by taking the time to set up a proper workers compensation program which will protect the business’s solvency in the event of an accident.
How does pay-as-you-go workers comp help my business?
Pay-as-you-go workers comp allows employers to pay their workers compensation premiums as they pay payroll. This is a great tool for cash flow as you’re not overpaying all year long. Additionally, by paying premiums only on what you use there is a diminished chance that you will have issues at the yearly audit.
What is employers liability on a workers compensation policy?
Workers Compensation insurance was created in order to protect both workers and business owners. If a worker gets hurt the workers compensation coverage provides for medical expense and in exchange the employee gives up the right to sue his/her employer.
Do I need to cover independent contractors for workers comp?
Whether or not your business needs to cover independent contractors for Workers Compensation Insurance depends completely on your unique situation.
