• 16
  • Sep2019

Does Your Business Need Workers Comp in NY?

Does Your Business Need Workers Comp in NY?
Does your business need workers compensation insurance? This is a fairly simple question to answer. Just about every business with employees is required by law to have workers comp insurance in New York. There are exceptions to this rule: 1. If the business is owned by one individual who is the only employee of the company,

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  • 09
  • Sep2019

The Best Workers Compensation Insurance in New York

The Best Workers Compensation Insurance in New York
How to choose the Best Workers Compensation Insurance in New York Hint: The lowest quote may not be your best choice, here's why..... When you think of the best of something, especially when it comes to insurance, the first thing that comes to your mind may be the least expensive, or the cheapest.  There’s no doubt

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  • 23
  • Oct2018

Understanding Indirect Loss Costs Leads to an Eight-Fold Improvement in Cost Reduction

Understanding Indirect Loss Costs Leads to an Eight-Fold Improvement in Cost Reduction
  Executive Summary:  In this article we focus on understanding indirect loss costs and how they impact a firm’s bottom line.  Indirect loss costs are well established in the Fortune 500 world, but they don’t get much attention in the middle market, which is a shame.  Indirect costs are just as significant (if not more so)

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  • 28
  • Sep2018

The Alternate Employer Endorsement

The Alternate Employer Endorsement
In today’s gig economy, there are numerous forms of employment which can bring challenges to your workers compensation insurance, and worker injury risk.  The Alternate Employer Endorsement is an important risk transfer tool which should be deployed when non-traditional employment arrangements are engaged in.  Here’s why. If you are an employer who employs workers from a

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  • 17
  • Sep2018

Employee or Independent Contractor? Avoiding Workers Compensation Problems

Employee or Independent Contractor? Avoiding Workers Compensation Problems
We have written about the topic of properly classifying employees in the past, but there is continued crack down by regulatory authorities and insurers about classifying workers properly with regard to NY workers compensation.  Are workers employees or independent contractors? Under the New York Workers Compensation Board Rules most workers are classified as employees for rating

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  • 17
  • Sep2018

What is a Loss Sensitive Rating Plan?

What is a Loss Sensitive Rating Plan?
A loss sensitive rating plan...... such as a high-deductible plan is an alternate method of financing an employer’s workers compensation risk from guaranteed cost programs.  Under a guaranteed cost policy, an employer pays a “fixed” premium each year based on the company’s rating classifications and payrolls, the one element which can vary during the course of

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  • 10
  • Sep2018

The Seven Deadly Sins of Workers Compensation

The Seven Deadly Sins of Workers Compensation
Workers compensation is often the biggest insurance pain point for manufacturers and other mid-market employers in New York.  Rates are high, a company with “average” claims experience will usually have an elevated experience rating modifier, and there seems to be a perverse element in the workers compensation system that keeps employees out on workers comp longer

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  • 30
  • Aug2018

What is a High Deductible Workers Comp Program

What is a High Deductible Workers Comp Program
As its name denotes, a high deductible workers comp policy or program is a method of insuring workers compensation risk with the employer assuming some of that risk in a deductible of $100,000, $250,000 or even higher per claim, and an insurer taking the remaining risk on. These types of policies are reserved for larger employers

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  • 07
  • May2018

Compassion & Communication – Two Keys to Successful Outcomes in Workers Compensation Claims

Compassion & Communication – Two Keys to Successful Outcomes in Workers Compensation Claims
There are multiple facets to managing worker injury claims, but one of the most important which is not found in any claim filing instructions are managing expectations through compassionate communications. It may seem odd to think about compassion in a business sense, but take a step back and think of the injured worker for a moment

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  • 06
  • May2018

What is Employer’s Liability in Workers Comp?

What is Employer’s Liability in Workers Comp?
Employer's Liability = Protection from Lawsuits Most employers are familiar with their worker's compensation insurance, it is a mandatory form of coverage in New York when you have employees.  But the policy is actually separated into two parts.  Part One covers the statutory obligations the employer has to protect workers when they are injured on the

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