SilverBlog

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Blog Tag: Workers' Compensation

Managing your workers comp class codes can be a challenge. These complex numbers represent an extensive compilation of job descriptions and they vary by state. Many employers end up using incorrect classifications, while others avoid updating them from year to year. However, workers comp class codes play a vital role in regulating insurance premiums and can have a substantial impact on your workers’ compensation policy. They need to be a priority.

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Building maintenance companies face many exposures during day-to-day operations. From compliance issues to contractual risk, there are numerous factors at play. One of the biggest areas of concern, however, is employee-related loss. Building maintenance companies need effective workers’ comp risk management. Fortunately, they can use key performance indicators (KPIs) to help address this exposure.

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While looking through a stack of insurance contracts, you’ll likely notice that many include additional insured endorsements – unless you’re looking at workers’ compensation policies. These policies are intended to cover the insured’s employees. Adding an additional insured would require the policyholder to cover an owner or general contractor’s employees for work-related injuries. Therefore, this endorsement is not permitted for workers’ compensation coverage. This restriction has sparked a growing interest in something called the “alternate employer endorsement.”

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The Family Medical Leave Act (FMLA) regulations can be difficult to follow. Mix in some workers’ compensation laws and things can get really complicated. FMLA protects the employment status and health benefits of an individual for up to 12 weeks under certain qualifying criteria. Workers’ compensation provides benefits and wage replacement to employees who suffer job-related injuries and illnesses. It is possible for FMLA and workers’ compensation to run concurrently when an employee misses work due to an on-the-job injury that qualifies as a serious health condition. This can be any illness, injury, impairment or physical / mental condition that involves inpatient care or continuing treatment by a healthcare provider.

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Employees have spoken – paid time off (PTO) is important. In fact, a good PTO policy is one of the most valued benefits among job seekers. According to a recent survey, flexible hours and more vacation time ranked among the top three job perks people look for – right behind better health insurance.¹

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America’s aging population is growing at a rapid rate. There are roughly 56 million Americans over the age of 65, and that number is predicted to climb to 84 million in just three decades. As this demographic steadily grows, so will the need for senior care assistance.

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Looking to hire a new employee? An accurate job description serves as a great starting point to find and hire the right worker for an open position. But if you’re only using it for hiring, you might be missing out on some of the best applications for this useful resource.

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High seas, salty air and sword fights. It may be hard to believe, but the first historical accounts of workers’ compensation are linked to pirates. As motivation to participate in this dangerous trade, they were often rewarded in gold if they sustained significant injuries. The bigger the sacrifice, the bigger the reward.

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Each year, employers spend billions – yes, billions of dollars resolving issues related to overexertion injuries. In fact, these claims have been repeatedly identified as the leading cause of disabling workplace injuries in the United States. What’s more important, however, is that many of these injuries can be prevented through the application of a few ergonomic analysis tools.

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An Accident Waiting to Happen
Car accidents happen in the blink of an eye – a split second that turns a casual drive into a frightening collision. It doesn’t take long for panic to set in. You become worried about your passengers, yourself and your vehicle. One of the few calming factors during all of the chaos is knowing that this is what insurance is for. Accidents happen and insurance comes to the rescue. Right? Well, not always.

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