•Bad Economy Makes Business Owners Targets of Employee Lawsuits
It's no surprise that when the economy takes a nose dive, people get extremely anxious about money. And what do we do in this country when we are low on cash? That's right, WE SUE! All of a sudden seemingly normal people start paying closer attention to all those lawyer ads on TV. After all, somebody must be responsible for this. Since most lawyers know that suing the government is a big waste of time (and money), who is the most logical choice? Why employers, of course.
For example,...
•The Not So Independent Contractor
No Workers Comp? Go to Jail! Go Directly to Jail! - Part 2
In the first installment of this series I talked about the legal obligation employers have to carry workers compensation insurance on their employees. I explored the severe consequences meted out on those employers that don't. Namely, employers who willfully choose not to carry workers comp on their employees are subject to both criminal and civil penalties. The employer also loses its immunity from employee initiated lawsuits....
•The Top 6 Workers Comp Insider Secrets
For most organizations, employee related costs are one of the biggest drains on the bottom line. And workers compensation insurance is often the main drain. Unlike the price of gas, however, understanding these six workers compensation insurance industry secrets can help owners and managers aggressively control these costs. So what are they?
1. Insurance companies don't pay for your employee injuries - they just finance them for you.
Do you realize that oftentimes you pay $2 to $3 back to...
•Why Assuming Your Workers Comp Experience Mod is Correct Could be a Dangerous Calculation
Quick Mr/Mrs/Ms Businessowner! What does the following formula mean to you?
M = AC+E(LC)+E(1.00-C) / E
No. It has nothing to do with Einstein's famous equation. However, it could mean the difference between a fat bottom line or permanently hanging up the "closed" sign. Give up yet? It's the calculation that determines your workers compensation experience modifier (mod). You know, the number that can save you or cost you thousands on your workers comp premium.
Just in case you've...
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