Workers compensation is a state regulated program. As an employer you are required to take reasonable care to make sure your workspace is safe, accidents can happen having workers compensation insurance ensures that employees who suffer from job related injuries and illnesses get medical care, regardless of who is at fault.Do you have workers compensation history ? No problem
Workers compensation carrier can now accurately score a policy even when you have no loss history. Insurance companies traditionally review your prior loss history to evaluate the risk. The model now has changed to custom database predictions for insurance policies without any loss history. We are entering to a new stage of innovation in predict analytics, as insurers purse the small commercial markets and the ability to insured risk with less information on the application.If you have no loss history, we can help.
Work related illness and injuries Wage replacement due to disability Aggravation of pre-existing conditions Death benefitsThe rates you pay for workers compensation:
The primary component of the insurance premium is related to the classification assigned to the business, and the payroll generated by the employees assigned to the classification.
Workers compensation rate are applied per $100 of payroll thus a rate of $5.75 means that for every 4100 of payroll $5.75 in premium is generated.
Workers Compensation Insurer Rates
Each insurance company develops its own set of workers compensation insurance rates. These rates are used in determining what an insure will pay for coverage. Insurer may adopt the WCIRB’s advisory pure premium rate as staring point and add on factors to account for administrations cost and the insurer may develop its own rate and file with the Department of insurance.
Workers compensation is a state regulated program. As an employer you are required to take reasonable care to make sure your workspace are safe, accidents can happen having workers compensation insurance ensures that employees who suffer from job related injuries and illnesses get medical care, regardless of who is at fault.
“California employers are required by law to have workers' compensation insurance, even if they have only one employee. And, if your employees get hurt or sick because of work, you are required to pay for workers' compensation benefits. Workers' comp insurance provides basic benefits, including medical care, temporary disability benefits, permanent disability benefits, supplemental job displacement benefits and a return-to-work supplement, and death benefits”.