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Maryland Report Says Many Workers Misclassified, Costing $59M in Workers’ Comp Premiums

Insurance Journal

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workers’ compensation premiums each year, according to a report from a state task force. Maryland’s Joint Enforcement …

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Maryland Report Says Many Workers Misclassified, Costing $59M in Comp Premiums

Insurance Journal

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workers’ compensation premiums each year, according to a new report from a state task force. Maryland’s Joint …

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Understanding Classification Rules in Workers’ Compensation

AMAXX

These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. What Are Classification Rules?

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Understanding the Two Primary Benefits of Workers’ Compensation for Employers

AMAXX

While their primary purpose is to ensure employees receive medical and wage replacement benefits for work-related injuries, they also offer critical advantages to employers. Under this system, employees who accept workers compensation benefits for a work-related injury or illness forfeit the right to sue their employer for negligence.

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Understanding Classification Rules in Workers’ Compensation

AMAXX

These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. What Are Classification Rules?

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Understanding the Key Parties in Workers’ Compensation

AMAXX

Insurance Company: The Risk Bearer Often referred to as the underwriter, insurer, or carrier, the insurance company provides the workers’ compensation policy and assumes the employers risk. These external companies specialize in claims management, ensuring that each claim is handled efficiently.

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Keeping Coverage Affordable: California Drivers Will See Auto Insurance Rate Increases in 2025

Freeway Insurance

Senate Bill 1107 , which increases minimum insurance requirements, is expected to further drive up premiums statewide. This latest change could disproportionately affect communities where insurance costs already strain household budgets. million uninsured drivers in the state.