Services.
MAKING SURE THE INSURANCE COMPANIES
CLASSIFY YOUR BUSINESS
CORRECTLY
Classifying the business correctly is the first step, one that requires true understanding of your business and having access to the relevant Workers Compensation Insurance Rating Bureaus classification definitions correct. What does the business do? How do they do it? What materials do they use? Critical questions to determining the correct classification. Businesses change, so even if the code that is on the policy was correct before at the time does not make it correct today. The correct code may determine the rate the insurance company charges but more importantly, it will determine the rating values that are used on the experience mod. While it may seem like a good idea to choose a less expensive classification because, in the long run that lower-rated code will result in an experience mod that is higher than it should be. I hire mod may lead to an increase in premium or even an inability to get hired for jobs if the mod gets too high.
PREMIUM AUDIT ASSISTANCE
The majority of workers compensation premium audits are incorrect. While some of these errors certainly fall on the Auditors themselves, most of the overcharges are the result of employers not keeping their records in a way that allows the auditor to complete the audit correctly it is our job to make sure you are prepared. In most businesses ( excluding construction, Agriculture and Staffing businesses, plus some other special circumstances) employees are assigned to the governing classification unless they meet the definition or standard class acceptance. For most class codes, these exceptions are clerical, outside sales drivers. We work with the employer to make sure that each employee is properly classified before the auditor arrives. If a clerical employee is misclassified as someone exposed to the general risk of the business, the business is being overcharged. It is also critical that employers keep track of money they give to employees that count towards the workers compensation premium calculation
Specialized
Advisory
Services
When you place your business with a Certified WorkComp Advisor
you are stepping up to an advanced insurance business consultant
process. CWCA’s receive additional training specific to the Workers’
Compensation industry that enables them to fully understand
the errors that commonly occur and the processes that should be
implemented to keep you from losing money. They clearly have a
better understanding of the insurance industry and are in the best
position to advise you on your total insurance issues. Below are
actual examples how CWCA’s have found, fixed errors and returned
money to employers!