Worker’s Compensation

Employees are legally entitled to protection from the financial cost of to an accident that occurs while on the job.  If you pay your employees and give them a W-4, your state requires you to carry this insurance.  The workers compensation policy will pay the medical bills, a portion of lost income, and protect your company from possible lawsuits filed by injured employees.  Owners, officers and partners may be included according to legal structure of your business.

Whether you employ less than 10 people or over 1000, your loss experience, which is collected by the Workers Compensation Bureau, directly impacts your premium by assigning an experience modifier.  This is why you need an insurance partner that understands your business and will work with you to control exposures that cause losses.

At the end of the policy year, the insurance company will audit to ensure accurate payroll- as it is the basis of the premium, and you may have a premium adjustment.

Have a question? Call the insurance professionals at ENGS Insurance, toll free 855-270-2650.