Category Archives: General
Workers Compensation Class Codes
One of the most important aspects of pricing work comp insurance revolves around the classification system, or class codes. Most states rely on the National Council on Compensation Insurance (NCCI) to develop and maintain workers’ comp codes, while a few states such … Continue reading
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Second Injury Funds
At one point in time, it was a standard feature of most workers compensation systems to have a Second Injury Fund (SIF) in place. A typical Second Injury Fund provides coverage for employers when an employee who already has a … Continue reading
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Cell Captives Not Just for the Big Boys Anymore
In the not so distant past insurance captives required a ton of capital and were out of reach for many business owners. The cost required to start a captive, coupled with the overhead and expertise needed to manage it, made … Continue reading
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Retro Plans Help in Hard Market
Can a workers compensation retrospective rating plan be a good tool for larger accounts as the comp market hardens? Many insurance companies and industry professional expect the workers comp market ot begin to harden this year (2012). A hard market … Continue reading
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The Hartford XactPay
The Hartford adapts XactPay program away from QuickBooks with XactPay Express Several years ago The Hartford introduced the XactPay program exlusively for QuickBooks Users. In 2011, The Hartford expanded the program to allow all employers with an Internet connection to … Continue reading
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Pay As You Go Workers Compensation
What is Pay As You Go Workers Compensation and how can it benefit an business? Pay As You Go Workers Compensation is a relatively new way to buy workers compensation coverage. The primary benefits of Pay As You Go include 1. reducing the … Continue reading
Retail Insurance vs Wholesale Insurance
In today’s world, it is getting hard to tell the difference between a retail insurance agency and a wholesale insurance agency. More and more states are dropping any distinction between a broker and an agent. So what’s the difference anyway? … Continue reading
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What is a Ghost Policy?
Ever heard the term ghost policy with regard to workers compensation insurance? Ever wonder exactly what it is? A Ghost Policy is the term used to describe a type of work comp policy issued to individual business owners that really … Continue reading
NCCI Quoting States
I was recently discussing all of the NCCI states around the country and an agent asked me how many states our firm could quote with NCCI. I honestly didn’t know exactly how many states NCCI provided residual market access for, so I looked … Continue reading
Workers’ Compensation Blog
Workers Compensation Shop.com launches Blog on Feb 1, 2012. Our mission is to provide work comp news and information related to national and state specific workers’ compensation insurance.
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