Monday, June 25 2018

Archive by tag: PremiumReturn
Even if you have run a business for a while, you may still have questions about the workers’ compensation premium audit process. Here are four things you should know about premium audits.
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Posted in: Workers' Compensation FAQs | Tags: Premium Audit , FAQ | Comments (0) | View Count: (3977)

Why did my premium go up?

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Most often, claims are the reason a business’s workers’ compensation insurance premium increases. It is simply a financial fact that more claims lead to greater costs. That’s why a robust safety program at your business is not only the right thing to do for your employees, but the smart thing to do for cost management. A workplace safety program can save a business thousands of dollars by helping avoid accidents, which can then help the business maintain a low insurance premium.
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Posted in: Workers' Compensation FAQs | Tags: Premium , cost of workers' comp , , workers' comp | Comments (0) | View Count: (2524)
9 Ways You Can Control Workers’ Compensation Costs As a small business owner, it is important to monitor and control day-to-day operating costs. When it comes to a company’s workers’ compensation insurance, there are a number of factors that will affect the premium. Below are 9 tips a small business owner can implement to help control workers’ compensation insurance costs:
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Posted in: Small Business Research | Tags: control costs , cost of workers' comp insurance , Premium , workers' comp | Comments (0) | View Count: (1381)
Your workers’ compensation premium is determined by a formula that has three primary elements: 1) the type of business you have, 2) your business’s history of workplace accidents, and 3) the total payroll of your business. The National Council on Compensation Insurance (NCCI), a trade group of the US insurance industry, as well as state agencies such as the Workers Compensation Insurance Rating Bureau (WCIRB), collect and analyze data to help provide reliable and consistent application of this...
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Posted in: | Tags: workplace safety , payroll , premium , workers' compensation insurance | Comments (0) | View Count: (1621)
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