Workers Compensation is Designed to be a Compromise Between Employers and Employees
Employees get benefits regardless of who was at fault. In return, employers get protection from lawsuits by injured employees who want to be awarded money damages for pain and suffering or mental anguish. Every employer needs to have workers compensation and we understand the costs can be a financial burden on even the largest businesses. LG Insurance Agency can offer some creative guidance in lowering your yearly premiums.
Ratings are Mandated by the State
Some agents out there may just tell you that – it is what it is. We at LG Insurance group think a little differently. If you have had claims in the past and you have been in the state plan for more than 3 years, there are opportunities to pursue to get your premiums lowered and to positively affect your experience modification.
Would You Like to Lower Your Premiums?
If you have outstanding reserves on your policy from previous claims, we can see if we can get them removed from your policy (companies are notorious for leaving them lingering as it is less they have to pay out when it comes time for profit sharing). Also, if you have been with the state plan for more than 3 years it is time to re-evaluate your experience mod and see if we can get you placed with an admitted carrier. We can also see if we can get you some credits from the carrier to lower your premiums.
NY and NJ Workers Compensation Policies that Fits Your Needs
At LG insurance group we have various workers compensation markets with specific programs for contractors, restaurants, and technology-based office businesses. We work very closely with our insured to make sure that the workers comp is set up appropriately and accurately through our carriers and the state based New Jersey Compensation Rating and Inspection Bureau (NJ CRIB).
We also have the capabilities of doing a pay-as-you-go worker’s compensation insurance program where payments become bi-weekly based on your payroll usage and are reported by your payroll company. Don’t be turned off by this incredibly difficult insurance to navigate – let the experts at LG Insurance Agency help you with this critical component of your insurance portfolio.
Workers Compensation through pay-as-you-go in New York and New Jersey is a great program. This program can save companies time and money in addition to headaches and backlash of the audit season.
