Unfortunately, we don’t all live in a bubble and accidents still happen (even if we try our darnedest).When employees get injured on the job or suffer from an occupational illness, workers’ compensation insurance
From an ‘insurance nerd’ perspective, contracts can be a valuable tool or a deadly trap for a contractor...Many contracts are drafted by professionals with little knowledge of insurance coverage.And, too many construction contracts
https://youtu.be/EOR3XweDxY0An experience modification factor is your business’s workers comp rating. It’s like your grade for workers comp – and you're being grading on a bell curve with other “like” companies in your industry.
You better make sure… In most states, the contractors are liable for workers' comp benefits to an injured employee of an uninsured subcontractor. Although the upper-tier contractor’s work comp policy will respond to
And why you should care... Most states use the National Council on Compensation Insurance (NCCI) to collect data and calculate the Experience Modification Factor. But some states have their own independent rating bureaus.