ALL California employers must provide coverage for their California employees
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California Cannabis Dispensary, Cultivator, & Grower Business Insurance
JVRC Insurance Services is committed to providing insurance to the rapidly expanding Cannabis Industry. Cannabis dispensary business insurance, cultivator/grower insurance, and banking solutions can be expensive and difficult to acquire…
EPLI Insurance In California
Whether you’re a small or large business, California EPLI Insurance (Employment Practices Liability Insurance) can cover the majority of employee/employer related lawsuits and exposures. One of a business owner’s greatest risks is potentially…
Group Health Insurance In California
Group Health Insurance in California has gone through major changes in the past few years. It has been extremely difficult for businesses to follow and keep up with all the rules, changes, and requirements you must abide by…
Surety Bonds In California
A large number of California businesses are required to have surety bonds in order to conduct business in the state. These surety bonds are also often required by clients, vendors, and other businesses in order to begin a job or … Continue reading
Professional Liability Insurance In California
Professional Liability Insurance for California hits close to home here at JVRC Insurance. It is such a crucial part of our business and covers some of our largest exposures. As a professional, I’m sure you know the liabilities that come … Continue reading
California Commercial Umbrella Insurance
Though there are many reasons to consider a Commercial Insurance Umbrella policy for your business, there are two that stand out. One, it protects your business from the high cost of a catastrophic claim or lawsuit. Two, you may need … Continue reading
Business Owners Insurance Policy in California BOP)
It can be quite expensive to own a business in California. Let the best business insurance company in California build you a custom Business Owners Policy (BOP) that can… consolidate a variety of…
Commercial Property Insurance In California
Workers’ compensation insurance is a critical component of doing business in California. JVRC Insurance, one of California’s best business insurance companies, has been providing workers’ compensation insurance for California businesses for over a…
Commercial Auto Insurance California
California law states that any vehicle registered in the state of California must be insured by an auto policy. You can accomplish this by either acquiring a personal or commercial auto insurance policy in California. Contact us to determine which … Continue reading
General Liability Insurance In California
General liability insurance in California is probably the most dynamic insurance policy you can purchase to protect your business. Almost all of the businesses and clients you work with will require you to carry General Liability in California and will … Continue reading
Frequently Asked Questions about Business Insurance
Why is California Workers Comp Insurance so expensive?
Largely because of claims that occur, experience modifications, fraud and payroll amounts statewide
Where do we get the information we post on our blog site?
The Department of Insurance website, The WCIRB, The Insurance Journal and many other trusted sources
What is an experience modification?
It’s a percentage that compares the payroll and loss history of your company to a similar-sized company within the same industry. For example, if a company has a better than average loss record, their experience modification would be less than 100%. If that is the case you would receive a credit on your Workers Comp rates. If that is not the case however it would result in the opposite, an increase in rates. The experience modification can be closely compared to an individual’s credit score.
Why is Workers Compensation Insurance a necessary requirement?
It is illegal in the state of California to not carry it. There will be penalties, fines and many other consequences if a worker is injured and you do not carry it. Furthermore if there is a claim and you do not have California Workers Compensation Insurance at the time the employer is still liable for all costs relating to the injury which can be devastating to any company.
How does your insurance carrier determine what your experience modification number is?
This is calculated based on your payroll, premium paid and by your reported losses for the last three consecutive years
Who regulates and makes California Workers Compensation laws?
The Department of Insurance regulates the laws and the State Senate makes them
What is a Classification or a class code?
It’s a component used determine the price an employer pays for their workers’ comp insurance premium. Classifications are established for each industry and typically include all jobs or operations within a particular business.