The Knowledge Base

helpful tidbits from the experts

Pay-As-You-Go Workers' Comp: Navigating Your Options

Pay-as-you go workers’ comp is becoming more and more popular with small business owners. Here’s what you need to know before jumping in.

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How to Create Effective Workers’ Comp Safety Programs

According to the US Bureau of Labor Statistics, there were 2.6 million nonfatal workplace injuries and illnesses reported by private employers in 2021 (the most recent year for which statistics are available). While that marks a 1.8% decrease from 2020, that still includes almost 5,200 work-related deaths. Here are a few additional eye-opening statistics for employers:

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Your Drug-Free Workplace Program

According to the National Safety Council, 9% of working American adults have a substance use disorder, ranging from alcohol to illicit drugs. The US Department of Labor highlights that 65% of accidents in the workplace somehow involve drug and alcohol abuse.

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How to Create a Workers’ Comp Return-to-Work Program

Every business owner knows that a workplace accident usually means two things. First, an employee will likely be out of work while they recover with the help of your workers’ comp insurance. Second, your rates are probably going to go up if the incident affects your Ex-Mod rate.

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Understanding the Workers’ Compensation Claims Process

Most states require businesses to carry workers’ compensation insurance. These policies provide vital protection for employees injured on the job or through work-related duties or processes.

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6 Tips to Lower the Cost of Your Workers Compensation Policy

Controlling your business’s costs is essential to a healthy bottom line. While you can implement many cost-saving tactics that help you save money, one option is to reduce the cost of your workers’ compensation policy.

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Life Cycle of a Workers’ Compensation Policy - Kickstand

Workers’ compensation policies are generally annual contracts that are set up between your business and the insurance company you choose for your policy. The policy will start at the effective date and will go through to the expiration date, which is generally one year from the time the policy goes into effect. Of course, there may be differences based on the insurance company and policy you choose.

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Understanding the Basics of Loss Control - Kickstand

The term Loss Control is commonly used in the insurance industry, as a means to describe ‘risk management’ when it comes to preventing claims from occurring. The goal is to reduce the risk for the insurance carrier offering the coverage and for the business that holds the workers' compensation policy. By finding potential risks and mitigating them as early as possible, it can help prevent injuries in the workplace and lower the amount of claims because it helps to make the workplace safer.

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What are Loss Runs and how do you request them? - Kickstand

A loss run report records the history of claims made against a business insurance policy. It is similar to an incident report as you might keep for management records. When looking for new business insurance coverage, you can provide the report to prospective insurers. Underwriters can use loss runs to determine how risky your company will be to insure. If there were no claims, these documents would state that there were none. Loss runs can be obtained by requesting them directly from the carrier with whom the policy was issued or by contacting the agent who sold you the policy.

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