Jennifer Sanborn’s Post

Want to pay less for workers' comp and make more money? Of course you do! Here's how USI helped a general contractor do exactly that: - The GC was having a tough time qualifying for new work because their workers’ compensation experience mod was 1.13 — too high for the contracts they wanted to bid on. - When USI verified their historical payroll amounts by worker classification and evaluated their open claims, we identified payroll errors and a claim reserve that was set too high. - After pointing this error out and advocating on behalf of the contractor with the insurance company, we were able to reduce the e-mod from 1.13 to 0.98, creating a premium savings of almost $7,800. - The reduced experience modification rating also allowed the contractor to bid on and win several new contracts worth over $4.3 million. Want to LEARN MORE about how USI can help? READ USI's report: Understand Your Experience Mod to Reduce Workers’ Comp Premiums Then CALL ME at 213.337.6428 or email spencer.stone@usi.com #workerscomp #businessinsurance #riskmanagement #experiencemod

What is it? Worker's compensation is insurance that benefits employees who suffer work-related injuries or illnesses. Workers comp covers medical expenses, rehabilitation costs, and a portion of lost wages. In return, employees typically relinquish the right to sue their employer for negligence. Who needs it? Businesses with Employees: Most states require employers with any employees to carry workers' compensation insurance. Specific Industries: Certain industries, like construction or manufacturing, may have additional requirements. Sole Proprietors & Independent Contractors: Sole proprietors and independent contractors generally only need workers' compensation if they hire employees or their client/employer requires them to carry their own coverage. How to Handle an Audit: Stay Organized: Keep records of employee classifications, payroll, and any claims made. Understand Your Policy: Familiarize yourself with your worker's compensation policy to ensure you are in compliance and understand the coverage. Prepare for Questions: Be ready to explain your payroll practices, employee roles, and any claims history during the audit. Work with Your Insurer: Communicate with your insurance provider before the audit to clarify any uncertainties and get guidance. Review Findings: After the audit, review the findings carefully. If there are discrepancies, discuss them with your insurer or seek legal advice if necessary. Staying informed and proactive can help you confidently navigate worker's compensation requirements and audits! #OfficeOps #Bookkeeping #WorkersComp #StayOrganized #Insurance #Employers #Policy #Payroll #Claims #Audit #Review

🚨 Employers, Are You Aware of the Increased National Insurance Contributions? 🚨 The UK government’s recent changes to National Insurance could impact your bottom line. As an employer, it's crucial to stay ahead and understand how this affects your payroll, budget planning, and overall costs. At AJN Accountants, we’ve broken down what these changes mean for your business and how you can navigate them effectively. Discover actionable strategies to manage this additional cost while maintaining financial efficiency. 👉 Read our latest blog for a full breakdown: https://lnkd.in/eDpqFvsQ #employersni #payroll #employers

A recent Traveler's study showed that 35% of worker's compensation claims stem from 1st year employees. We have great solutions to add controls that can lower the chances of those 1st year employees increasing your company's EMOD. Your business’s workers’ compensation experience modification factor is impacted by many variables — and has a direct correlation with your insurance premium costs. Learn more in our new #USIExecutiveSeries article:

🚀 Introducing Our Workmen Compensation Insurance – Tailored for Payroll Companies! In today’s dynamic business landscape, safeguarding your workforce is more important than ever. Injuries and accidents can disrupt operations, and legal obligations are getting more stringent. That’s where Vedant Invest & Insure comes in with Workmen Compensation Insurance! Here’s how we can help payroll companies: ✅ Legal Compliance: Stay aligned with Indian labor laws ✅ Financial Security: Medical expenses, lost wages, and disability coverage ✅ Simplified Claims Process: Hassle-free, quick payouts ✅ Boost Employee Morale: Retain talent with better benefits 🔑 Why Choose Us? We offer flexible coverage, affordable premiums, and dedicated support to ensure your workforce feels safe and secure—letting you focus on your core business. Let’s connect to explore how we can protect your workforce and elevate your business! 📞 Contact: Vedant Patel | 9265103106 | pvedant63@gmail.com 🌐 Vedant Invest & Insure #InsuranceSolutions #WorkmenCompensation #PayrollManagement #RiskManagement #EmployeeBenefits

Many businesses believe that simply having an experience mod below 1.00 is the goal. But knowing how low it can be is important. The difference between the current experience mod and the minimum mod, a number unique to each business, represents the opportunity for further savings. Contact me to learn how USI is helping companies with their Workers Compensation: shawn.rubin@usi.com #workerscompensation #riskmanagement #usioneadvantage

So, Employers National Insurance is changing. Not new news! However, have you had any discussions or carried out any investigation into how much of an impact this could have on your business? I recently carried out a review for a client who was in their words "confused with some of the online calculators and drifting between terrified and mild panic" with the results they were getting. We will, over the next week or so, complete this exercise for all of our clients as we know it is important to offer as much support as possible with payroll related changes that can cause impact to businesses. This is a potentially confusing/costly change and now is the right time to be having conversations about the impact this will have on business in the coming year to be able to recognize what, if any, actions should be taken. If you do have any questions regarding this obviously reach out to your payroll team/provider for clarity. Or failing that, give us a shout and we will be happy to offer help with forecasting the effect going forward if we can. Email: payroll@dcpayroll.co.uk

Understanding NYCPAP Credit and Payroll Cap in Workers’ Compensation Insurance for New York Contractors https://loom.ly/fDn-Jvk #construction #building #architecture #contractor #constructionmanagement #constructionindustry #constructioncompany #constructionproject #constructionlife #constructionworker #constructionsite #constructiontechnology #constructionmaterials #constructiondesign #constructionjobs #constructionbusiness #constructionnews #constructiontrends #constructiontips #constructioninsights #constructionupdates #constructioninnovation #constructionleadership #constructionstrategy #constructionplanning #constructionprocess #constructionefficiency #constructionsuccess #constructiongrowth #constructiongoals #constructionchallenges

A worker's compensation claim can affect an employer's premiums for up to three years. It is worth your time to study ways to reduce these costs. Here is a nice overview of 12 such ways. I challenge you to start implementing some of these great ideas TODAY! https://lnkd.in/gtKjDYjA

Are you confused by Workers' Compensation Premiums? Learn how premiums are calculated, why audits are important, and what happens after an audit. Contact us for expert advice on improving your experience modifier and potentially reducing your premiums. https://hubs.ly/Q02xghwk0 #WorkersComp #Insurance #SafetyFirst