Workers’ compensation insurance can be a large cost center for a business, and if your employees are regularly injured on the job those costs can quickly become a financial burden, even in this period of low rates. Companies in industries with high rates of workplace injuries are especially vulnerable, particularly if an employee suffers permanently…Read more
Types of Insurance a Small Business Needs
If you are just getting a business off the ground, have bought equipment, and started hiring employees, insurance should be top of mind. There are four types of insurance that most small businesses purchase to protect themselves, and without them, one accident or oversight could leave you with liabilities you may not be able to…Read more
3 Steps to Controlling Workers’ Compensation Costs
Workers’ Compensation can be a large cost center for a business. The extent depends on the type of business and the state where the business is located. The cost to insure a single employee making $30,000 per year can range from less than $100 (for a clerical worker) to around $1,400 (for a restaurant worker)…Read more
Disability vs. Workers Compensation
Many workers are unclear on the difference between disability insurance coverage and workers compensation insurance. Often, workers will decline optional disability insurance coverage, however badly needed – because they think they are covered under their employer’s workers compensation plan. This is usually a mistake. Workers Compensation is designed to protect both businesses and workers from…Read more
Workers Comp Ghost Policy
The Workers’ Compensation Ghost Policy What is a Ghost Policy? A ghost policy is a workers’ compensation insurance policy that is generally purchased by a business owner with no employees in order to meet coverage requirements, where the business owner excludes themselves from receiving workers’ compensation benefits in the event of a work injury. Since…Read more