North Carolina Business Workers Compensation Insurance
Accidents Happen, Is Your Business Protected?
Unfortunately it happens too often. Consider the following workers compensation injuries reported from business owners in North Carolina:
- A plumber lifted a tub and injured his back causing 2 years of disability and expensive medical bills.
- A 30-year veteran electrician was electrocuted and severely injured.
- A service technician was killed in an accident while traveling to the job site.
These are all awful tragedies, but they help to explain why workers compensation exists and why it is required by law. Companies with three or more employees must carry workers compensation insurance for their employees in North Carolina.
As a diligent employer, whether required by law or not, you want to purchase the workers compensation insurance that will protect your employees and your business assets. However, you should also expect real value that can help keep premiums down and provide a monetary reward for running a safe business.
Understanding NC Workers Compensation Insurance
North Carolina small business employers must understand their obligations and rights under NC workers compensation laws. Although the laws and regulations can be complicated, a few key elements of a workers compensation program offer employers the essential tools needed for controlling the return-to-work path for injured employees.
Workers compensation insurance is experience-rated: your costs are based upon your losses. Employers essentially pay for their own losses. The higher their losses, the higher their costs. All business insurance plans are loss sensitive to some degree.
Smaller North Carolina businesses on "guaranteed cost" insurance programs see the benefit of reduced losses gradually. Their premiums are based on a three-year loss experience (experience modification factor or "mod"). As losses go down, premiums also go down. Larger companies with a deductible, retrospectively rated, or self-insurance program see results of reduced losses immediately.
All employers can dramatically reduce their costs by reducing their losses. Workers compensation costs are based on an employer's losses over time. Every injury, every day away from work for an injured employee contributes directly to your workers compensation costs.
The Right Workers Comp Protection for Your Business
We represent many of the premier workers compensation providers in the state. Our programs include access to safety professionals who will assist in identifying and remedying potential hazards. Some of the programs include the ability to receive a portion of your premium returned as a yearly dividend. You will also have access to claims experts who work to make sure injured employees are back at work as quickly as possible.
Operating as a team, we can work to lower your losses and your premiums will go down. Our insurance companies work together with you to speed the recovery of your employees and return them to work as quickly as possible. These actions will lower your costs.
Your North Carolina Workers Compensation Insurance Specialists
With over 1,000 workers compensation insurance clients, we have the knowledge and expertise to provide the right protection for your business. Our staff has been providing workers compensation programs for businesses in North Carolina since 1980. With a combined staff experience of over 150 years in the business, we know the workers comp laws in the state.
Together we will make sure you receive value added protection at a reasonable cost.
Complete the Free NC Workers Comp Insurance Quote Request form and find out if you have the right workers compensation insurance protection for your business.