Workers' Compensation

The Worker's Compensation insurance provides for Workers' Compensation and employer's libability.

Part 1 - Workers' Compensation Insurance coverages are defined by each state. The state's Industrial Commission is the controlling body. It provides medical and disability coverage for on-the-job injuries or work related illness. In many states principals such as owners, officers and partners can exclude themselves from workers' compensation or also known as workmens comp coverage.

Part 2 - Employer's Liability Insurance provides coverage that protects the company in the event that an employee alleges that an employer's negligence or failure to provide a safe workplace was the cause of the employee's injury or illness.

Part 3 - Other States Insurance. This refers to states not listed in Part 1 where the applicant has the potential for operations during the policy term, but none currently exists as of the effective date of the policy.


Experience Modification

Generally the business has to have been in operation for at least two years under present ownership and the premium must meet or exceed a level which is established by the state to qualify for experience or merit rating.

The modification is a factor based on your actual loss history which may increase or decrease your premium payments.