ALL California employers must provide coverage for their California employees
Blog Archives
Special Event Insurance in California
Putting on a Special Event such as a concert, conference, workshop, or wedding can be extremely rewarding and at the same time be quite a task to take on. There is an endless list of responsibilities and tasks that come … Continue reading
Security Guard Insurance California
We here at JVRC Insurance Services truly enjoy and are dedicated to “protecting the protector” when it comes to the Security Guard and Private Patrol Industry. It is quite the difficult and daunting task to provide the proper protection for … Continue reading
Contractors Insurance Services
JVRC Insurance has been providing California Contractors insurance services for almost 15 years, ensuring the safety and security for all aspects of their businesses while also providing the most competitive pricing! Contractors deal with much adversity and tremendous hardships in … Continue reading
Farm Labor Contractors’ Workers’ Comp Insurance
JVRC Insurance Services is a California Commercial Insurance Agency that specializes in representing Farm Labor Contractors (FLC). We understand the licensing challenges and the regulatory complexities imposed by the California Division of Labor Standards Enforcement (DLSE).
Auto Dealer Workers’ Comp
An auto dealership requires a wide variety of well-trained employees in order to operate efficiently. In order to protect them and your business, an auto dealer workers’ compensation insurance policy is essential. It provides coverage to all employees in case … Continue reading
PEO Insurance In California
PEOs, or Professional Employer Organizations, provide small businesses with services that reduce their administrative tasks, making them more competitive while providing cost savings. These services include payroll, benefits, HR, risk management, and other administrative requirements. Additionally, they can give small … Continue reading
Home Healthcare Insurance Services
Caring for individuals in their homes is an essential profession, but it’s not without risks. JVRC Insurance wants to ensure your home healthcare aide business is well-prepared for the unique challenges you may face. We can provide a range of … Continue reading
Legal Malpractice Insurance Company In California
Legal professionals in California, like elsewhere, are susceptible to the risk of professional liability claims. To shield your practice from the financial implications of these claims, legal malpractice insurance is indispensable. This coverage is tailored to the unique challenges of … Continue reading
Restaurant & Bar Insurance In California
JVRC Insurance Services provides leading bar and restaurant insurance in California. Ensuring the success and longevity of your establishment involves more than just delicious food and drinks; it demands sound risk management. We offer the specialized insurance coverages essential for … Continue reading
Technology Business Insurance
Businesses in the technology industry are involved in one of the most dynamic and pioneering industries in the world! Technology business insurance is so vital considering that Technology is forever changing and evolving which forces your business to constantly change … 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.