Workers’ Compensation Tutorial
Tuesday, October 21st, 2008Whether you’re in business or starting a new business you need to know the basics of workers’ compensation insurance. Virtually every business that has employees other than the owner is required by state law to carry workers’ comp. But you need to be careful in choosing a policy. The fact is many insurance companies can get remarkably tricky when it comes to writing policies - in their bag of tricks are such ploys as classifying the type of work your employees do incorrectly, miscalculating so-called modification factors, and making a variety of other types of errors which, oddly enough, result in insurance costs to you that are higher than they need to be.