North Carolina continues to impress with their historically low workplace injury and illness rates. North Carolina, with a rate of 2.3 cases per 100 employees, is below the national average of 2.8. NC’s Labor Commissioner, Cherie Berry, credits the two decades of success to a safety culture commitment. When speaking specifically in regards to the private construction industry, Berry states, “We are especially pleased that private industry construction saw a significant decrease in its total recordable rate from 2.5 to 1.6 and is significantly below the national rate of 2.8 per 100 full-time workers.” North Carolina has gone above and…
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In August, we posted a blog about the importance of promptly reporting claims. Today, we continue this theme by emphasizing the value of “Post-Claim Communication”. As vital as it is to quickly report claims, it is equally as necessary to keep the communication going with all on-going claims. Because the claims process can be so arduous for the company, it can be easy to forget about the well-being of the injured employee. Employers should take it upon themselves to check-in with the employee to see how they are doing and ask if they need anything. This communication will go a…
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According to the National Safety Council (NSC), each year, over 50,000 auto accidents take place in either parking lots or garage structures. These accidents are the cause of nearly 60,000 injuries and 500 deaths. Many of these accidents are preventable, as the NSC states that nearly 66% of driver’s nationwide user their cellphone while driving through parking lots. Even if a driver is responsible for the accident, the owner of the parking lot or garage could be held legally liable. Selective Insurance states, “Whether the person is exiting or entering a vehicle, walking or driving, their safety is your concern”.…
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Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. What is a minimum experience mod? What is my organization’s min mod? How do I get to my minimum mod? Experience Mod Your Experience Modification Factor is an important part of determining how much you’ll ultimately pay for your Workers’ Compensation Insurance. The final number evaluates you against peers in your industry – whether that…
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Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Secret 1: Insurance companies don’t pay for employer injuries – they just finance them for you at an exorbitant cost You pay $2 to $3 to the insurance company for every dollar it pays out for employee injuries. Each claim results in the most expensive financing contract you have in your business. First,…
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Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Why was my work comp premium audit so high? Why do I owe money to the insurance company after my premium audit? How do I prepare for a premium audit? What do I need for a premium audit? Workers’ Comp Premium Audit Workers’ Compensation costs are a major expense item for most…
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Business owners and general contractors are always looking for ways to save money. Often times the most effective way to save money is by setting up preventative measures. One such preventative measure, fleet telematics, not only saves on everyday operations but also on claim-related activity. We at Insurance People partnered with Azuga, a GPS Fleet Management Software company to provide this service to our clients. Azuga’s software allows the user to view when, where and how the vehicle was being used. They also offer a dashcam system for the vehicle, which is crucial for claim-management. No longer do business owners…
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Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Common FAQ’s: How much does my work comp cost? How is my work comp premium calculated? Work Comp Premium – Payroll & Job Classification: Although Workers’ Compensation insurance is one of the most frustrating coverages to understand, it is one of the easiest coverages to produce a quote. The main two factors used…
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Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Experience Modifier Experience rating is a mandatory process that modifies the published rates for workers’ compensation coverage based on a comparison of your past losses to your industry’s average losses. Usually three years of loss experience are used to calculate the experience modifier (Ex Mod). An Ex Mod below 1.00 means your recent…
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