In this article, we discuss the importance of a workers comp communication plan which is initiated following a worker injury. I’ve witnessed it too many times. An employee gets injured on the job and they get the cold shoulder from their employer. No communications, no instructions, no empathy. And then the employer wonders why morale … Read More
So we’ve discussed in the past couple of posts how to reduce your workers comp mod that the only two variables in your mod are payroll and claims. We’ve discussed claims and in another post, we’ll talk about safety, safety culture, and best practices, so in this post, we’re going to talk about payroll. Now … Read More
How to Reduce Your Workers Comp Experience Modifier In my last post, we talked about the math portion of the reducing workers’ comp experience mod and how errors often exist which end up costing clients more premium than they should. When we perform audits on mods we often do find errors on prior policy terms … Read More
Today we’re going to talk about how to reduce your workers compensation experience mod. This rating factor in your workers comp policy goes by many names so you may know it as your x-mod, the mod, the experience modifier, and so forth. Let’s start with the fundamentals so I don’t lose anyone here. The experience … Read More
Workplace Incident Investigations When a workplace accident happens in many companies, the injured worker reports to HR, their manager or some other responsible person so they can complete an accident report or initial report of injuries that is forwarded to their workers compensation insurance company. And that’s the extent of documenting the incident. Unfortunately, there … Read More
The New York State Insurance Fund is a quasi-government organization that was formed in 1914 to act as the “market of last resort” for worker’s compensation in New York. Market of last resort means that if your business couldn’t find an insurance company that would sell you workers comp coverage, you would go to the … Read More
Right now, the marketplace for worker’s compensation in New York is mostly stable and competitive but some issues do exist. Below are what we see as the Top 5 Problems with Workers Compensation in New York. #1. Healthcare Costs. As an employer, you have seen the cost of your employee benefit costs skyrocket. There are … Read More
Okay, that’s a pretty broad headline, so I’m going to break down some of the major elements of how workers’ compensation rates work in New York so you have a better idea of how it works and what’s critically important for you to know when making a decision on buying insurance. I’m not sure I’ll … Read More
There’s a lot of things to know about workers compensation insurance in New York, it’s a big state with a lot of businesses large and small across a diverse landscape, but we’ve picked out 5 THINGS YOU SHOULD KNOW ABOUT WORKERS COMP IN NY, with a special focus on Downstate NY. #1. You can purchase … Read More
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 … Read More
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