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The Advanced Insurance Management ® Online Guide to Workers Compensation Insurance Workers' Compensation is regulated by each state, and the rules regarding this business obligation can vary significantly. Most states utilize a system where most employers purchase private insurance to meet this statutory obligation, but some states maintain a state-run fund that competes with private insurance. A few states require employers to use only their state fund and do not allow private insurance. For the details on each state, check our State by State directory. If your company purchases Workers' Compensation insurance, your premium is calculated according to a certain format. Some of the fine details of that format can vary from state to state, but there is also a considerable degree of uniformity from state to state regarding how premiums are calculated. We've included on our website a number of pages containing information about the details of that general format: |
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The Basics of Workers' Compensation Premium Calculation Glossary of Workers' Compensation Terminology Experience Modification Factors Payroll & Other Remuneration Defined Warning Signs of WC Overcharges Worker's Compensation in Illinois Precision Machining & Workers Comp Why Workers Comp Overcharges Are So Common We also have a state by state directory of insurance regulators and information about insurance industry professional designations |
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And for more detailed info, check out: Workers Compensation: A Field Guide for Employers Consultants on Workers Comp Classification Codes, Experience Modifiers, Payroll Audits, & More We've been helping employers since 1987, making Advanced Insurance Management one of the oldest and most experienced firms in the field of premium recovery. |
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