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Worker's Compensation Insurance
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| Workers' Compensation laws are designed to ensure
that employees who are injured or disabled on the job are provided with
fixed monetary awards, eliminating the need for litigation. These laws
also provide benefits for dependents of those workers who are killed
because of work-related accidents or illnesses. Some laws also protect
employers and fellow workers by limiting the amount an injured employee
can recover from an employer and by eliminating the liability of
co-workers in most accidents.
State Workers Compensation statutes establish this
framework for most employment. Federal statutes are limited to federal
employees or those workers employed in some significant aspect of
interstate commerce.
Your past three (3) years of claims are used as
the basis for determining your modification rating. A modification
rating of 100 is a dollar for dollar exchange rate; meaning, the
insurance company expects to pay out one dollar for every dollar the
company pays in through policy payments. Ideally, a company will
be below the 100 rating, unfortunately, scores of 140 or 150 are
becoming very common.
Hundreds of thousands of dollars are spent by
companies every year for claims that should be closed or need to be put
"back on track". Proper and regular review of your
company's claims history can greatly reduce your annual premium by
closing out these old and overlooked claims. Additionally, once a
proper auditing procedure is in place, it assists the insurance
company's claims adjuster to expedite claims.
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What we can do for your company
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Rules of Employment can help you
strengthen your business through improved business insurance and
employee benefits.
We will assist in the design and structure of an insurance and benefits
programs specific to the needs and goals of your business, perform a
market review to place your coverage with the appropriate carriers, and
then help you manage and administer your programs on an ongoing basis
including annual, semi-annual or quarterly reviews, based on your
company's needs. |
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Rules
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