Business insurance is something every company needs in some form, but the costs associated with it can become overwhelming at times. Depending on the type of policies you have, there are various steps you can take to try and keep costs down. One of these, of course, is to switch carriers, as different companies often…
While there are many factors that will influence how much you pay for your workers’ compensation insurance coverage, it’s always true that the fewer accidents you have, the better your rates will be. Of course, having solid and updated safety systems in place is a great starting point when you’re trying to ensure your number…
Every year, the Legislature passes policy changes by boasting their hypothetical positive effects. However, they rarely revisit their rulings to determine if they in fact materialized. Legislative leaders might emphasize “oversight,” but it rarely happens and if it does, it’s more superficial and self interested rather than objective and deep. The well regarded Workers’ Compensation…
The cost of worker’s compensation insurance causes major headaches for business owners across the board. The cost of premiums can quickly spiral out of control, and you may think there’s nothing you can do to reign them in. But, there are several steps you can take to ensure you’re paying as little as possible for…
Unless you have been hiding under a rock over the last decade, you are probably aware that seismic shifts in the labor force and high speed automation may be putting one of the property and casualty industry’s biggest premium generators at risk of displacement. Two issues confronting insurers could prompt essential changes in their business…
Workers’ comp remains a top priority for employers. The challenge that brokers face is the ability to assist clients when health care costs are rising. Nonetheless, brokers will have ways to support businesses by identifying opportunities to keep premiums under control. PREMIUMS CONTINUE TO RISE Higher premiums are a result of higher claims. This is particularly…
Finding the information you need to make an informed decision about your workers’ compensation insurance isn’t always easy. Most are at the mercy of their broker, who may not check the rates of every carrier offering policies for your industry. How do you know if you’re getting the best possible rate from the best possible…
Recently approved by the California State Insurance Commissioner, new reporting requirements went into effect on January 1, 2017 related to first aid and small medical only claims. Moving forward, all employers are now required to report the total cost of any claims for which medical care is provided or costs are incurred. Regardless of whether…
One of the most important factors in reducing workers’ compensation claims and in turn policy rate is your hiring process. The people you hire, their background, and their contribution to risk in your business, are hugely important, and yet fewer employers than ever before are conducting the types of credit and criminal background checks that…