If you?ve ever operate a business then you have dealt with workers comp insurance companies. Dealing with the non-stop threat of increased premiums will make any employer paranoid.
Likelihood is that you already are aware that there are several things that take place in your company that will cause the workers comp insurance companies to raise your premiums. Other reasons you may not realize are that there are also numerous mistakes made by the insurance carrier that have an adverse effect on your company. Here is a list of common mistakes by businesses and workers comp insurance companies that cause workers compensation premiums to rise:
* Insufficient safety program to prevent injuries
* Non-existent get back to work procedure
* Not reporting injuries to the insurance company whenever they occur
* No contact with the injured worker?s doctor
The previous are just a sampling of the common mistakes that business owners make when dealing with work comp. There are several options available that will help employers to help reduce costs with minimal upfront costs. If not observed the reasons above can total to thousands of dollars in increased premium rates.
The next list below are common mistakes produced by workers comp insurance companies:
* Workers supplied with the wrong workers compensation classification code
* Company?s experience mod was mis-calculated
* Qualified exemptions and credits mis-applied or not applied
* Mis-calculation of payroll
It could be hard to believe but, these errors are only a small sample of the numerous mistakes that arise. Perhaps the most common issue is when the workers comp insurance company is calculating the overtime rate at the amount indicated on the payroll instead of a straight hourly rate.
Another problem is workers being placed into the wrong job class category. This mistake can cost employers lots of money. One example is a clerical employee being classified under the roofing class code because he is required to go to the work site on an infrequent basis.
If you have ever dealt with insurance carriers you most likely know how difficult it can be to get your business? premiums decreased. Even if you may be right, you may not have the tools you require to show them the problem so that it can be fixed. Then there?s the errors that you do not know about that are costing your company thousands of dollars. Mistakes that cost you tens of thousands of dollars ultimately.
Well I hope I have help point you in the right direction for your business and your needs for GA Workers Comp Insurance or GA Workers Compensation.. This article, Workers Comp Insurance ? Faults Costing A Lot Of Money is released under a creative commons attribution license.
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