The landscaping industry’s cyclic nature means that a company likely won’t pay a flat annual premium for its workers’ compensation insurance. Instead, its premium will depend on the classification codes on the policy, how payroll is split among them, and its past three years of claims history used in the experience modification calculation. While you […]
Specialty Insurance
Connecticut’s manufacturing sector, anchored by the aerospace and defense supply chain, has a different injury profile than the general commercial economy. That difference can be seen in how the state prices workers’ compensation insurance coverage, as well as in how much control a manufacturer has over the number on the renewal invoice. Why Connecticut Manufacturing […]
Connecticut healthcare employers deal with one of the more convoluted workers’ compensation classification pictures in the state. A single medical practice or agency can carry several different workers’ compensation insurance class codes under one policy, each with its own base rate. That complexity affects the premium costs at every renewal, and it’s the kind of […]
Essential Takeaways Most business owners understand that workers’ compensation claims will increase their insurance premium at renewal. But many don’t understand how the formula actually applies to their payroll, how long a claim remains in the experience period, or why a $6,000 claim might cost more than $6,000 after all the calculations are complete. This […]
Workers’ compensation premiums are generally set using a standard class-code rate that is applied to payroll, modified according to a company’s accident history and a carrier’s expenses. Learn how premiums are calculated and steps you can take to reduce your costs. In Connecticut, workers’ compensation premiums are largely based on the classification of the work […]
Essential Takeaways: Most Connecticut business owners receive a workers’ comp quote and either accept it or shop around for a lower rate. Neither approach, however, verifies whether the calculation behind the premium is correct in the first place. Every workers’ compensation insurance CT premium is calculated using a defined formula based on three factors. Understanding […]
Essential Takeaways: Many small business owners in Connecticut think about workers’ comp the same way they think about payroll, which is per head. The problem is that workers’ compensation insurance CT premiums are not calculated that way, and approaching them as a flat per-person cost can result in budgets that don’t fare well in the […]
Essential Takeaways: Connecticut is a highly desirable place to own a home, thanks to its charming colonial architecture and scenic coastal views. However, there is also another reality many homeowners must address: some properties can be very challenging to insure via standard carriers. Has your home been declined homeowners’ insurance or non-renewed? Most insurability problems […]
