Workers Compensation

Safeguard Your Business & Your Employees

Helping You Get Workers Comp-Fit

Workers Compensation insurance is a significant expense for many businesses and requires a partner that can help you prevent on-the-job accidents, control losses, and manage premiums. This partner is White Eagle Insurance Solutions.

What Workers Comp Provides

Workers Compensation insurance, mandatory in the majority of states, helps both employers and employees in the event of a work-related injury or illness. It will pay for the employee’s recovery needs as well as lost income that results from the injury or illness. It will help with hospital and physician bills, medicine, physical therapy, and other recovery-related expenses. It also protects the employer from lawsuits stemming from workplace injury and illness. If the employee is disabled because of a work-related occurrence, Workers Comp insurance will respond, whether the disability is temporary or permanent.

How Are Comp Premiums Determined

An employer’s Workers Comp insurance premium is determined by its class code, number of employees, total payroll, type of jobs performed, and the employer’s history of accidents and claims.  High-risk occupations have higher premiums than lower-risk occupations. Employers with a good safety record will be rewarded with lower premiums than others in their industry.

An employer may have more than one classification that is included in its Workers Compensation premium calculation. For example, if you are in the construction industry, you may have admin employees in addition to contractors. All of an employer’s classifications and related premiums are combined to determine the Workers Comp premium.

What Is Experience Rating and How Does It Affect Your Premium?

Employers with an annual premium greater than a certain amount are usually eligible for experience rating, which adjusts the premium up or down depending on your claims history as compared to similar employers (similar size and industry). An experience modification factor—or ex-mod —is added to the premium calculation, which either increases or decreases your premium in a given year.

We’re Ready to Serve You

White Eagle’s laser-focus commitment is in providing exceptional client service and protection strategies for your business, employees, family and you. We look forward to speaking with you. Just give us a call at (800) 657-5202