If you’re a construction business owner or contractor in California, you must have a good understanding of workers’ compensation insurance. Workers’ comp helps protect both you and your employees in case of work-related injuries or illnesses. Below, we’ll cover who needs workers’ … Continue reading
As a small business owner, you may decide that you want to switch your workers’ comp insurance provider. This may be due to the cost of premiums, the level of service, or some other reason. However, mid-term cancellations can be … Continue reading
In California, business owners of all types work with independent contractors. Whether it’s contractors for construction, freelancers for creative organizations, or workers in the gig economy, independent contractors are common. But determining how to classify workers for insurance requirements can … Continue reading
As many employees have started working from home over the last few years, it raises important questions for employers: Do I need workers’ comp insurance for remote employees? Does my current workers’ compensation insurance cover remote workers? Below, we discuss this … Continue reading
Workers’ compensation insurance is a requirement in California for businesses that have at least one employee. It provides a safety net for both employees and employers in the form of financial assistance and protection in the event of workplace injuries … Continue reading
Many businesses in California struggle to find the best workers’ compensation coverage. Certain industries, labeled as high risk due to the nature of their operations, require even more specialized high risk business insurance. Acquiring workers’ compensation insurance is essential, as it … Continue reading
Workers’ compensation insurance is an essential safeguard for both employees and employers. It provides financial protection in the event of workplace injuries or illnesses. However, the process doesn’t end with securing a policy. Insurance companies will often audit workers’ compensation plans to … Continue reading
Workers’ compensation, also called workman’s compensation or workman’s comp, is an important safety net that protects both employees and employers in the event of workplace injuries or illnesses. It’s a system designed to provide financial assistance to employees who suffer … Continue reading
The JVRC Insurance team understands that COVID-19 has affected many businesses and given these unexpected circumstances business owners have several important questions. Questions such as, what do you do when one or more of your employee’s contracts COVID-19? How does … Continue reading
So, you have just successfully opened your home health care business, congratulations! Up until this point you have put tons of energy and effort into tasks like finding a location, acquiring City and State licenses, purchasing equipment and last but … Continue reading
ALL California employers must provide coverage for their California employees
Largely because of claims that occur, experience modifications, fraud and payroll amounts statewide
The Department of Insurance website, The WCIRB, The Insurance Journal and many other trusted sources
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.
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.
This is calculated based on your payroll, premium paid and by your reported losses for the last three consecutive years
The Department of Insurance regulates the laws and the State Senate makes them
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.
