workers comp

Question: How does workers’ compensation protect the employer?

Answer: Your workers’ compensation policy protects you as an employer from any lawsuits arising from your employees where you or your company are declared negligent.

Example: Your employee makes you as employer aware that there is a cracked ceiling tile that needs to be replaced. A week later the ceiling tile is not replaced and falls on the employee injuring the employee and causing damage to his/her eyes. You may be liable in a lawsuit as the potential risk was brought to your attention and necessary corrective/safety measures were not taken.

Question: How does workers’ compensation protect my employees?

Answer: Your workers’ compensation policy covers your employees two fold. First it covers your employees should they be harmed while on the job for medical damages. Secondly, it subsidizes your employee for lost wages if they are unable to work due to a work related injury.

Question: How can I lower my workers’ compensation insurance premium?

Answer: There are many ways items that you can look at when assessing if you qualify for a lower workers’ compensation premium. We recommend that you consult with your agent as some of these items may or may not apply to your state. I have listed a few below.

1. Create and maintain a safety program
2. Review and monitor your Experience Modification Rate
3. Multi-Policy Discount – When you have your business policy and workers’ compensation policy with the same company.
4. Review your coverage limits.
5. Review your employee and payroll amounts estimated at the inception of your policy.