Workers Compensation Insurance Specialists: we protect your hard-earned profits! Call today: 800-508-9126
Services: How to cut insurance costs
5 Real Cost Factors:
We lower your insurance costs by focusing on these points and providing you with solutions:
- Identify the top 5 real cost factors that are driving your workers’ compensation premium.
- Explain the impact on your company’s profits.
- Help you to make the changes that will ultimately lower your risk and save profits.
- Find all the premium reductions available to your business.
- Earn our commission by improving your business.
1. Company Classification Code
Sets the rate you will pay for coverage
2. Annual Audits
Annual audits can become a slippery slope when it’s time to settle up for a policy year
3. Experience Modification Factor
Your mod is based on several years of your company’s claims experience compared to your industry.
4. Claims
Think you won’t have workers’ comp claims? You’re wrong
5. Clout
What? Completing a year with few claims should be your goal. It is also the icing on the cake. Why?
RELY ON OUTSIDE EXPERTISE
GET HELP WITH YOUR ANNUAL AUDIT
An audit is done at the expiration of your policy period to verify your actual payroll information against estimate you made for the year. The audit results will determine if you owe additional premium or are due a refund for overpayment.
Work Comp Specialists take the pain out of audits by providing you with a list of information and items you'll need for the audit...
RELATIONSHIPS MATTER. ASK FOR HELP TO MANAGE WORKERS COMP CLAIMS.
Like most insurance, you never really know what workers' compensation coverage is worth until you have a claim. The first 30 days (after a workplace accident or injury occurs) are critical ...
PLAN YOUR BACK TO WORK / LIGHT DUTY PROGRAM
When you do have an employee out on workers' comp, the treating physician will determine when he or she is able to return, and in what capacity. "Light duty" restrictions must be followed... .
Two reasons to let Work Comp Specialists help you define your light duty program.
1. Claims classified as "medical only" do not add indemnity or lost time benefit costs
and can reduce premiums by as much as 70% ...
2. Light duty/return-to-work positions help employees feel like valued members of your company. And that goodwill has an impact on ALL your employees...
IT'S ALL ABOUT YOUR EXPERIENCE
Each year your insurer is required to submit your claims and payroll data to the National Council on Compensation Insurance (NCCI)...
In Florida, rates are filed by the NCCI in the fall of the year. The filing comes from the Florida Department of Insurance where any changes are made and rates are finalized to be effective on January 1st of the next year.
