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How Are Workers' Comp Rates Determined?

Posted by Greg Andress on Apr 13, 2017 9:00:00 AM

Workers' comp insurance rates are calculated according to the specific type of work employees perform along with the rate assigned to those employee classifications. But when it comes to obtaining workers’ compensation insurance, some employers don’t know where to start. Most states require business owners with a certain number of employees to have a workers’ comp policy, but many employers don’t understand how workers’ comp rates are determined. In order to help understand how workers' comp rates are actually determined, you must first consider the following:

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Topics: Workers' Compensation

Do I Need a Workers’ Comp Policy?

Posted by Greg Andress on Feb 27, 2017 11:56:02 AM

When it comes to Workers’ Compensation insurance, business owners are often too focused on dollars and cents to see that the benefits far outweigh the premiums. Policies pay for three things when an employee is injured at work:

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Topics: Workers' Compensation

How to Reduce Workplace Risk and Lower Workers’ Compensation Claims

Posted by FrankCrum on Feb 14, 2017 12:00:00 PM

Many business owners face the challenge of keeping their employees safe, but having a safe workplace is smart business. Avoiding injuries not only helps reduce lost work time and workers’ compensation claims, but it also drives productivity and increases employee morale. Being proactive before an accident happens is the key to improving safety performance, and sustaining it over time.

Although every company is different, safety standards can benefit every type of organization. Creating a safety program is the first step to reducing workplace risk.

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Topics: Workers' Compensation, Risk Management

5 Ways Small-Business Owners Can Reduce Workers’ Compensation Costs

Posted by David Wedoski, CRIS on Oct 20, 2016 8:00:00 AM

Workers’ compensation costs aren’t reflected simply by the cost of insurance premiums. The biggest factor of cost associated with workers’ compensation is the cost of actual workplace accidents. Between lost time, medical costs, attorney fees, and business disruption, even a relatively minor workplace accident can be costly and time-consuming. And to make a bad situation worse, once you’ve had workplace accidents and/or safety violations, your insurance premiums will most likely rise.

To stay off that slippery slope, here are five things you can do to reduce your workers’ compensation costs across the board.

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Topics: Workers' Compensation

Turning Risk Control Into Risk Management Savings [Webinar]

Posted by FrankCrum on Oct 17, 2016 9:50:04 AM

As an employer it's not what you say your employees should do to prevent injuries; it's the “culture” behind how you enforce those rules that sets the bar for your employees’ actions to prevent them. 

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Topics: Payroll, Workers' Compensation, Risk Management, Webinar

I Know Risk Management is Important But How Can I Afford it?

Posted by FrankCrum on Jun 16, 2016 8:30:00 AM

 The following is an excerpt from our latest guide, "A Business Owner's Guide to HR: Is There a Better Way?"

Workplace safety is too important for employers to overlook. With nearly 3 million nonfatal workplace injuries and illnesses reported each year by private employers, the costs are nearly $250 billion annually, in addition to the pain and suffering experienced by the workers and their families.

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Topics: Workers' Compensation, Small Business Management

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