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As the owner of a same day delivery or courier operation, understanding your workers compensation policy can be challenging. While business owners understand the requirements of carrying workers compensation for their operation, employees, and financial stability, if you’re unfamiliar with the nuts and bolts of this coverage (or benefits program as a whole), it can become a maze of questions, and understanding pricing.
Why You Need It
Workers’ compensation is essential to your business and, in most cases, required. Without it, organizations run the risk of crippling financial liabilities associated with on-the-job employee injuries.
And while it’s important to understand why your business needs a workers’ comp policy, it’s equally important to understand how your premium rate is calculated.
There are three primary factors that determine a business’ workers compensation (WC) premium rate. For the most part, these factors are fixed by each state, and your insurance company's discretion is strictly limited.
Workers Comp Premium Rate Factors:
Risk Strategies works with nearly 2000 delivery and logistics companies of all shapes and sizes nationwide, specializing in the full range of insurance and risk management solutions for this industry: property & casualty, alternative risk solutions, employee benefits, IC risk programs, key person risk management, safety and accident prevention, executive and family risk, and financial services.
Contact us today to learn more about using our expertise to take you further and protect your journey. To learn more please call (877) 862-4755.