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Understanding Classification Rules in Workers’ Compensation

AMAXX

When it comes to managing workerscompensation, understanding classification rules is fundamental. 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. What Are Classification Rules?

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Understanding the Two Primary Benefits of Workers’ Compensation for Employers

AMAXX

Exclusivity: Protection Against Lawsuits One of the most significant benefits of workers compensation for employers is the exclusive remedy provision. 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 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 workerscompensation policy and assumes the employers risk. For further insights into workers compensation best practices, explore resources like WC Mastery Training .

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Understanding Classification Rules in Workers’ Compensation

AMAXX

When it comes to managing workerscompensation, understanding classification rules is fundamental. 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. What Are Classification Rules?

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Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

AMAXX

When it comes to calculating workerscompensation premiums, two critical factors play a significant role: the frequency and severity of claims. Understanding how these two factors interact can help businesses reduce their premiums and improve workplace safety.

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Falling Work Comp Rates: The Good, the Bad, and the Ugly

R&R Insurance

On October 1, 2024 Wisconsin continued its trend entering a ninth consecutive year of reduced workers compensation insurance rates. Workers compensation rates are state mandated in Wisconsin, meaning all insurance carriers must use the same rates resulting in premiums from one carrier to another are basically the same.

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Emod Fundamentals – Perception of Risk

AMAXX

Click Link to Access Free PDF Download “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact” Whatwe’retryingtodohere,whatdidnotwhatnecessarilywe,whattheinsurancecarriers,whattheunderwriterstryingtodoisthey’retryingtogetanaccurateperceptionofrisk. All state laws vary.