Author Archives: Curt Sieve
What is an Experience Modification Rate and How Does it Effect My Business
Your Experience Modification Factor (also known as the Experience Modification Rate) will only apply to your workers’ compensation policy. Your Experience Mod (X-mod) compares your workers’ compensation claims experience to other employers of similar size operating in the same type … Continue reading
Posted in National Workers Compensation
Tagged class codes, experience mod, ncci, workers comp claims, x-mod
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Where to Begin When Writing a Safety Program
A formal safety program is a set of written documents that describe a company’s safety policies, priorities, and responsibilities. The program is designed to bring structure and consistency into a company’s accident prevention efforts. Without a written document, your safety … Continue reading
How can I Lower my Workers Compensation Premium?
Workers Compensation is often a large portion of overall Property and Casualty insurance costs. Many business owners look at the workers compensation premium and wonder how they can reduce the overall cost of the insurance policy. The following ideas can … Continue reading
Garage Liability vs. Garagekeepers Insurance
The difference between Garage Liability coverage and Garagekeepers coverage is similar to the difference between liability insurance and physical damage insurance. The first covers the insured’s liability for operations and autos and the other covers damage to customer’s vehicles. All … Continue reading
How to Calculate Workers Compensation Premium
How is Your Workers Compensation Premium Calculated? No matter the size of your company one of the most important things to do and basic costs of doing business is insuring your employees against injury on the job. On the job … Continue reading
How Credits and Debits Affect Workers Comp Rates
When purchasing Worker’s Compensation Insurance there are two primary factors that can change your rate. There are credits, which help lower the price you pay for coverage, and then there are debits, which bring up the price you pay. Below … Continue reading
What are workers compensation limits?
What Do My Workers Compensation Limits Mean? A lot of people are not 100% sure about each of the parts of their workers comp coverage and we get the question “What is workers compensation?” quite often at The Insurance Shop. … Continue reading
Posted in General
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ToolBox Talks
Why Toolbox Talks are Important to You Business Toolbox Talks are informal safety meetings designed to help keep your company’s safety procedures, rules regarding equipment, personal protective equipment, job assignments and expectations on the forefront of your employees minds. This type of … Continue reading
Posted in General
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Do I Need Insurance as a Business Owner
Do I Need Insurance as a Business Owner? This is a question that has been debated often. I think the best way to view it is to break it down on an understandable level. Most Business owners’ biggest asset and achievement … Continue reading
Posted in General
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