Janitorial Services, Electricians, Lawncare, Restaurants, Trucking and Floor Installation are Businesses with Unique Workers Comp Risks Unique Workers Comp Risks Can be difficult for a small business to prepare. In most states, Workers Compensation Insurance is required by law for most businesses. Each state has some exceptions that allow some businesses to… Read more »
Insured The insured person is the business or entity involved in an insurance relationship that is protected under the policy. The insured can be an individual, a business, or a non-profit organization. Insurer The Insurer is a term referring to the insurance carrier who is offering coverage under the policy…. Read more »
And Who Might Benefit From a Ghost Policy? A Ghost Insurance Policy is a type of Workers Compensation Insurance Policy where the owner of a business is excluded from coverage and they are the only employee of the business. There must be no additional employees for the business in order for a… Read more »
Issues in Workers Comp to look out for in 2017 Things are changing at within every aspect of the insurance industry. Especially in the workers comp systems each state has for their workers and employers. Here are 5 issues that will be at the forefront of the Workers Compensation… Read more »
Work Comp Rates in Florida are set for a dramatic increase December 1st. The average workers’ compensation rate in the state of Florida is set to go up by 14.5% on average beginning December 1st, 2016. The reason for this dramatic increase in premium is caused by three things…. Read more »
Workers’ Compensation: A Brief History of Workers’ Compensation in America. Formation of the Workers’ Compensation System The workers compensation system was started in the United States during the first half of the 20th century. The first state that enacted a system was in the early teens and the last state… Read more »
Work Comp Rates in New York are on the rise. On recommendation from the New York Compensation Insurance Rating Board, The New York State Department of Financial Services has approved a 9.3 percent average hike in workers’ compensation loss costs. These new rates will go into effect Oct. 1. For injured workers this… Read more »
NCCI proposed to the Florida Office of Insurance Regulation a rate increase of 19.6%. What caused this (Florida Supreme Court)? A 2.2 percent projected rate increase for the June 9th Florida Supreme Court decision in the case of Westphal v. City of St. Petersburg, in which the Florida Supreme Court… Read more »
Breaking down NCCI workers’ compensation class code 9014, Commercial Janitorial Services. Like most workers comp class codes, code 9014 includes many different operations. NCCI workers comp codes generally include a variety of operations. This is because the classification manual is written to include specific operations, but over time, additional operations… Read more »