Workers Compensation Audits

Posted on January 14, 2014 by Alex McFarland

Each year, business owners have to take valuable time from their busy schedules to complete and possibly meet with a workers compensation auditor to complete and wrap up the prior years workers compensation policy with regard to estimated payroll per class codes and actual payroll per class codes.

Nobody wants to do it, yet everyone must do it…or risk the consequences.

Worker comp audits are done for almost every workers compensation policy issued except for some owner-only policies and very small office policies. Some of the audits are simply a mail in audit with a few questions about payroll and job duties, and others are extensive, month long endeavors that you could feel like the auditor is moving into your company and setting up shop.

The size of your premium can determine which audit experience you will have to endure, but remember, you will almost always have an audit.

There is no set limit on what differentiates a mail in audit to a physical audit. Traditionally, smaller premiums will encounter mail in audits. Larger, more expansive risks will require a more thorough and in-depth audit.

Why is this?  Ultimately, any insurance carrier wants to make sure that they are compensated accurately for the coverage that they are providing to the business. If you use any subcontractors, 10-99’s, or day laborers, they want to make sure that the payroll paid to those 3rd parties is accounted for.

So, if you do use any form of the above, it is very important that you obtain and save a copy of each subcontractors’ certificates of insurance in your files. That way, you can prove to an auditor (or insurance company) that they supplied their own coverage and you should not be held accountable.

One thing that we all know is that workers compensation insurance can be expensive. It is important to know that it is far less expensive to be insured and have a worker get injured than the other way around.

I could give you example after example of how a $ 2,000.00 policy incurred a loss in excess of $ 10,000.00. Good for the business owner, bad for the insurance company. On the flip side, I could give you many examples of $ 10,000.00 policies that have never had a claim. At the end of the day, insurance is there to protect you and your employees from an accident.

When an auditor does schedule their visit with your office, just know that they are there to do their job that they are paid to do by the insurance carrier. They have to know if there is any outstanding premium that needs to be paid to the carrier. It is important to supply them with your 941-payroll reports, and subcontractor costs and COI’s (certificates of insurance) from those subs as you can provide.

When it is all said and done, everybody wants what’s owed to them.  Every business wants to get paid based on the terms of the agreement.  Insurance companies are no different.  They provide billing based on an estimate much the same way as many companies give estimates for work.  The primary difference is that the work takes a year to complete.

Purchase worker compensation insurance from our agency and save money on your coverage.

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Workers Comp- Gettting the Biggest Bang for Your Buck

Posted on January 7, 2014 by Alex McFarland

This is a term that everyone is familiar with. Shopping for a superior product or service for the lowest and most affordable price.

Get workers comp at a better price.

Unless you are shopping for a very specific brand or item, we are always looking for the best deal. If you are shopping for a specific brand or item, typically you are willing to pay whatever the premium is for the specific item you are looking for.

So, what about if you are shopping for your workers compensation insurance?

Ultimately the coverage is the same, you have the same limits and them. The only verifiable difference between any two policies is the name of the insurance carrier on the policy. So, why is there a price difference?

When looking for this answer, we first need to start from the very beginning of the application process. From the moment you meet your insurance agent, weather it be on the phone, through email, or in an agents office, everything starts with honesty.

As we all know, honesty is the best policy! There are very fine details that are captured on the application for the insurance coverage.

Specifically, lets talk about the workers compensation coverage.

You have to have the coverage, so why not do everything that you can to maximize the value of your money for the coverage. The information that you share with your agent can and does translate into what sort of leverage we as agents can ask a carrier for credits.

Any information that you could disclose to us that would give a good justification for reducing the overall cost of the policy would certainly help to lower the cost of the policy. If we get just the bare minimum information for the business that needs coverage, what does that do for you as the business owner? Not much. If I can only offer you a policy that isn’t affordable, that doesn’t do either of us any good.

When shopping for insurance, make sure to share with your agent what makes you so good at what you do! Be excited about the fact that you have low turn over! Emphasize to us that you have not had any claims! You agent should be on your side when it comes to getting you the best price possible for your policies.

If we don’t deliver the best price to you that is available, someone else will. That is why it is so important to have a strong relationship with your agent. Trust your agent to do the right thing for you and keep your hard earned money in your pockets!

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2014 Workers Compensation Market Outlook

Posted on January 7, 2014 by AJ Schrage

It was predicted that 2013 would be a challenging year in the workers compensation marketplace and that certainly proved to be the case.  In 2014, I would expect the challenging conditions highlighted by the current trend of a tightening work comp market to continue. 

Some of the challenges facing workers comp insurance carriers are brought to light by the recent financial concerns of notable property and casualty carriers.

We are not that far removed from Ullico entering into receivership.  Recently, Tower Group has been downgraded and public losses have pressured stock prices of Tower and QBE.  Some carriers have been forced into substantial lay-offs and or restructuring to address the pain created by claims from the 2008-2013 period. 

Time will tell if carrier responses to the challenging financial climate are successful.  In fact, AmTrust Insurance (and its affiliates) just acquired Tower Group, and it would not be surprising if the most financially stable carriers acquired those pressured by the difficult financial climate.

Another related dilemma is that many states continue to have significant increases to workers comp rates.  In Missouri, most carriers are taking a double-digit increase in 2014.  In Delaware, there has been a recommendation for almost a 40% increase, but it was not approved.  California had huge rate increases in 2013, and additional substantial rate increases are expected in 2014. 

These rate increases are required as many insurance carriers in the workers comp marketplace have been suffering substantial losses.  However, the increased rates will certainly create additional pain for business owners.  Larger businesses may consider options more and more where they take on some of the risk as opposed to only considering guaranteed cost options.

Numerous states have attempted to remedy some of the issues facing the workers compensation marketplace by changed regulation or legislation.  Illinois, Missouri and Oklahoma are all states which have made notable legal changes related to workmens comp recently.

There is a good chance that 2014 is the year that could truly separate carriers with strong financial results from carriers that have been trying to outrun losses simply by writing additional premium.  Carriers doing well financially, such as The Hartford, Travelers Workers Comp, First Comp Insurance /Markel, Employers, Missouri Employers Mutual and Guarantee Insurance Company seem well poised to continue writing business at a profitable and fair rate.  On the other hand, carriers pressured by recent poor financial results will likely be forced to undergo significant strategy changes.

Lastly, it has been a pleasure to work on finding insurance solutions for so many clients over the past year.  Sometimes the goal is to save money; sometimes it is important to locate adequate protection.  It is always satisfying to tailor a solution to an individual client’s preferences. 

I wish that your families and businesses prosper in 2014, and I look forward to continuing to find the best insurance solutions for my clients in the year ahead.  Have a great 2014!

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Understanding Your Workers Compensation Loss Runs

Posted on January 7, 2014 by AJ Schrage

Employers are always looking for ways to increase workplace safety and to reduce workers comp insurance premiums.  Carefully reviewing and analyzing workers comp insurance loss runs is one way to accomplish this. 

Loss runs are essentially a data summary of claims an employer has.  Loss runs contain a gold mine of information for the astute reviewer.  Correctly mining that information can lead to a treasure trove of beneficial changes.

First, it is worth knowing what typical workers compensation insurance underwriters are looking for when they review loss runs. Underwriters are looking at the frequency of claims; in other words how many claims show up in a given time period (while considering the size of employer and risk of the occupations). 

Additionally, underwriters are reviewing the severity of claims on a loss run.  Severity of claims is typically measured by the cost of the claims present on a loss run.  While detailing how experience modification ratings are calculated is beyond the scope of this article, frequency and severity of claims are the primary drivers of a company’s experience modification ratings.  Furthermore, “E-Mods” are significant contributors to the cost of a company’s workers comp insurance premium.

A basic question is how to get loss runs.  Loss runs can be requested directly from an insurance carrier.  Employers will generally need to obtain three to five years of loss runs when they are shopping for insurance.  Prior insurance carriers are required to provide loss runs promptly upon request.  Loss runs must be requested from each prior insurance carrier if an employer has had multiple carriers in the most recent three to five year period.

One thing that I find particularly helpful to do when reviewing loss runs is to look for patterns in the types of claims.  For example, perhaps an employer has a frequency issue; in other words too many claims.  If all (or most) of those claims are slips and falls or muscle strains; specific preventative/protective measures can be implemented or additional employee training can be provided.  This can create a safer workplace and directly lead to less workplace injuries. 

Additionally, such targeted preventative measures may convince an underwriter to provide better pricing on future workers comp insurance premiums if the underwriter can be convinced that future losses will be better than predicted by simply reviewing a past loss run.

Another thing an employer can do is to review a loss run to make sure that information is presented as accurately as possible and that favorable steps to influence how the loss run is viewed have been taken.  Open claims should be noted, and it is important for an employer to make sure that open claims are really still open or if they can be closed.  Also, the amount of reserves allocated to open claims should be assessed. 

While I would not suggest approaching an adjuster every time the amount of reserves looks out of line, this can be an important tool in cases where the dollar amounts are substantially out of line based on changed information.  Ultimately, getting reserves reduced (when appropriate) can improve an employer’s loss ratio.  Also, recently closed claims should be reviewed for accuracy.  In a similar vein, it is important that credit for any subrogation efforts by an insurance carrier are reflected on the loss run.

This article has provided tips on how employers should use loss runs and how they can make sure their loss runs reflect in the most positive light possible to underwriters who may be reviewing them.

For more information about workers comp or to start a workers compensation insurance quote visit our website.

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Drugs Policies and Safety Programs relating to the Workplace

Posted on November 13, 2013 by Josh Frerking

We don’t need another Lindsey Lohan story on Star Magazine to point out the ill effects drugs can have on our lives, but when it comes to the workplace; slowed response times, blurry vision, impeded depth perception to name a few of the effects these can have on your body, just think about some of the accidents these can cause when working on a construction site, driving a truck or even the file room office can be an accident waiting to happen.

Most of us realize that drugs and alcohol in the workplace do not work well together. If you are an employer who doesn’t believe that, for everyone’s sake please find another calling. Everything from motor vehicle accidents, heavy equipment operations are the obvious areas of concern, but even some of the less intense jobs can have significant injuries caused by employees working under the influence.  Not to mention the poor publicity as most of us aren’t going out of our way to do business in these types of environments.

Workers compensation in Missouri also frowns upon this, for quite obvious reasons. So much that if an employer has proof an employee was on drugs or alcohol when their workplace injury took place, it is possible for Workers compensation benefits to actually be cut in half. That can be huge. This can also be the case for an employee not complying with safety standards implemented in your safety manual. For all of you employers out there this is where you should really pay attention:

As an Insurance Agent, I have learned more than any other job I have ever had that you must have a paper trail for everything. You can say your injured worker was not complying with safety guidelines; but if you don’t have a guideline that you have on file or something indicating that you told the employee this was a guideline then its hard to say they were not complying.

Safety manuals seem tedious and obvious, however they provide proof that you have laid out the ground rules for your employees. Drug free workplace policies do the same thing. Manuals and policies are virtually useless if you do not enforce them though. This is why regular active drug testing and especially post accident drug testing is imperative to provide the proof you need when you suspect this being the reason behind an employees workplace accident.

I would love to provide more detail, but its pretty simple. Set your safety rules and enforce them. This is one of many proactive steps you can take as a business owner to make your workplace as safe as possible and help lower the cost of workers compensation. Despite popular belief, most accidents can be prevented if the proper measures are taken.

When you have a safety conscious culture in your workplace, it is contagious and will spread throughout your employees. Some previous jobs I  had utilized incentive plans for accident free days for the company and goals were celebrated.  Sometimes a simple BBQ can go a long way when employees know you are concerned about their safety.  Some employees relate to the dollar more and fortunately we can provide that perspective as well as many studies can show the direct premium cost accidents and claims can have on a companies workers compensation premium and in turn their bottom line.

Safety and drug free programs can be found through most insurance carriers.  OSHA also has a general manual, which can assist you.

If you want to learn more about how Safety and Drug Programs can help reduce your workers compensation rates, feel free to contact us at The Insurance Shop.  We can help you locate the appropriate manuals, guidelines, and documented materials for your company.

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Directors and Officers Insurance

Posted on November 11, 2013 by Melinda Langworthy

Many small business owners believe that their general liability insurance or umbrella business insurance policies will cover claims involving directors and officers of the company.  However, general liability policies do not respond to management liability lawsuits.

Some also believe that D&O insurance is only for large or publicly traded companies.  This is also not true.  A business of any size will usually have officers and possibly directors who can be targeted by litigants over their management of company affairs.  Although privately help business don’t risk exposure to securities class action suits, a business does have to have shareholders in order for it’s directors and officers to be personally sued.

Directors and officers liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously.

D&O liability insurance protects corporate directors and officers in the event they are personally sued. The board of directors, the president, treasurer, and other officers of your organization are the brains of the company. Increasingly, directors face personal financial liability in an increasingly complex and litigious world. That is the purpose of D&O coverage: to lower that risk in order to attract the best brains for your company. The insurance protects directors and officers by covering legal fees, settlements, and other costs.

In some cases when a company hires a new officer they will demand D&O coverage as a condition of their employment because they do not want to put their personal assets at stake.  Sometimes outside investors, such as venture capitalist or other financiers will require D&O policies before providing funding to the business.  They often see the coverage as a way to protect their investment.

Directors and officers are sued for a variety of reasons connected with their company positions, including misuse of company funds, misrepresentation of company assets, fraud, failure to comply with workplace laws, and lack of corporate governance among other issues. Simply hiring employees potentially exposes directors or officers to employment practices litigation (EPL), which may be covered by some D&O policies. Claims over employment are now the most common lawsuits brought against a company’s management.

D&O insurance had been criticized for undermining corporate governance by eliminating a strong disincentive for illegal or unethical behavior.  Insurance companies understand that by writing D&O insurance policies they facilitate the source of wrongful acts that they are insuring against.  In the 1930’s Insured’s had to pay premiums out of their own pockets, so volume grew slowly.  But legal changes on the United States during the late 1980’s allowed corporations to pay premiums.

One in six company executives — or 17 percent — believe their business will experience a D&O related loss in the next years, according to a survey of decision-makers at 451 U.S. companies, more than 90 percent of which had annual revenues of less than $25 million. The survey, sponsored by Chubb, found that one in eight survey respondents — or 12 percent — had experienced a D&O lawsuit within the past five years. The costs to settle and/or litigate those cases averaged $225,682, with some losses approaching $5 million, the survey found.

The cost of D&O insurance is based on a variety of different factors.  Small private companies are considered low risk and could pay as little as $500 per year per million in premiums.  Large publicly traded companies are usually considered high risk and could pay from $10,000 to $30,000 per million in annual premium.  That’s a small charge to protect against a potential settlement that could be a seven figure settlement.

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Workers Compensation Payroll Audit – Process and Result

Posted on November 11, 2013 by Justin Bartmess

Preparing for a workers compensation auditIt’s important for employers to fully understand the nuts and bolts of a workers comp audit.  Many employer find themselves owing huge audit bills due to poor planning or attempting to reduce the startup cost for coverage.

Workers Compensation insurance is based on a payroll “estimate” for the upcoming 12 month period starting with the effective date of the policy.  Each business type is assigned one or more workers compensation class codes that fit their business and job duties.  Each of those codes are assigned a percentage rate factor know as a manual rate.

Payroll multiplied by the percentage rate factor for each class code determines the premium amount charged for the policy.  After the policy period (1 year) is complete, EVERY standard workers compensation insurance carrier will perform a payroll audit for the previous 12 months of coverage.  This is know as an annual audit.

During this audit process the auditor can require a physical audit or a mail audit.  Mail audits are fairly simple, complete the worksheet and submit the requested payroll verification documents.  Most carriers will want copies of quarterly tax documents to validate the information on the mail audit.

Physical audits require the auditor to meet with the business owner to collect and verify payroll documentation and inspect the business to determine the proper classification code(s) were used.  Payroll documents the auditor will collect are year-end tax reports, payroll ledgers and 1099 payroll information.

The purpose of the audit is to determine the “actual” wages paid to employees and to make sure the employees are classified correctly.  After the audit process is complete, the auditor reserves the right to change or modify the workers compensation class codes as they interpret the business based on their inspection.

The auditor will report the “actual” wages paid to employees and uninsured 1099’s per class code to the insurance carrier.  The insurance carrier will adjust the payroll figures and class codes then send the business owner a refund or an invoice for the additional amount due.  If the business owner fails to complete the audit as requested, it will likely create difficulty purchasing another workers compensation policy.

After the business owner receives the audit results, the business owner can dispute the results if they feel that some information is incorrect.  Business owners can go directly to the carrier’s audit department to capture the auditor’s report/notes, or business owners can involve their agent to assist with this process.

If a work comp classification code is changed and the business owner doesn’t agree, the business owner must request an inspection by the appropriate state workers compensation bureau or NCCI.  Typically this request costs the business owner a few hundred dollars to have an inspector determine the appropriate codes.

The bureau inspection and classification code determination is final, and may be applied back for up to 3 years.

Understanding how the audit process works helps employers better manage their workers comp coverage.  It’s important to ensure proper classification of employees and accurate payroll expectation before you buy workers compensation coverage.

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Evolution of Workers Compensation

Posted on November 11, 2013 by Josh Frerking

According to The Iowa Orthopedic Journal,  workers compensation insurance in its basic form can be dated back as far as 2050 BC from ancient Sumeria and similar forms of compensation are seen in Greek, Roman, Arab and Chinese law to compensate those with work related injuries.

The concept of Workers Compensation is not some new scheme that came out of nowhere, however the concept has evolved considerably over the years and especially in the last century.

The changes you see are the compensation provided for certain injuries to help workers regain from losses back to where they were before their injuries.  And also to more modern strides to increase workplace safety and injury prevention. These two areas will always be up for debate and will fluctuate by state in how they will be enforced and handled, however a modern issue workers comp insurance companies are trying to help with is the concern with collecting insurance premium for these policies.

With regard to the modern form of Workers compensation we know of today in the United States, employers are responsible for providing workers compensation when they have a certain number of employees, but more importantly they can be held liable for injuries which take place on the job and are work related.  In some industries, this creates a very large expense for employers and the insurance companies, which provide this coverage for them.

With high costs, brings expensive premiums and can put significant strains on an employer’s bottom line. The insurance industry has found ways to evolve and find new ways to make this more accommodating to employers as they can.

Payment options are better now as carriers help spread out the cost of premium over several payments which can ease cash flow issues for employers.  Unfortunately, workers compensation premium is based directly off the amount of payroll your company pays out, and because of this the insurance companies provide end of year audits to make sure they have collected the correct premium based on estimated payroll. When an employers payroll fluctuates significantly, this can sometimes cause large audit discrepancies and puts further burden on the employers.

One of the newest concepts which was previously only available through leasing companies is the Pay-As-You-Go Workers Compensation plan.  This option has become available for individual employers as well through companies like The Hartford, Employers, Guarantee Insurance Company, and Zurich.

Whereas most payment plans require 10-25% of premium up front plus taxes and fees, Pay As You Go workers comp reduces startup costs by requiring only the necessary taxes and fees at policy inception, and then payroll is reported per pay period while premium is paid based on the reported payroll.

This option lowers the start-up amount for a policy and minimizes the risk of large end of year audits. Plans vary in design but the basic idea is reporting and paying premium based on the actual payroll. It is often beneficial to have a professional payroll service like PaySmart Payroll to provide your payroll services as the workers compensation reporting is actually included in their service.  Other companies might charge a fee for this service, but some bureaus, such as PaySmart, do not.

See if you business qualifies for Pay As You Go workers compensation today.

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Creating a Safer Working Environment in Restaurants

Posted on November 4, 2013 by AJ Schrage

Smiling waitress showing how restaurants needs to be safe.All workplaces should aspire to be as safe as possible for a number of reasons. At the top of the reasons to focus on safety is to keep your employees healthy and happy. Safety also helps to reduce the cost of workers compensation insurance.  Safer workplaces can save lives and save money at the same time. Restaurants, especially need to focus on safety because of the amount of direct contact employees have with the general public. As it relates to workers comp insurance, safer working environments can reduce workers compensations claims and avoid losses in productivity when injuries do occur by reducing the likelihood of injuries and improving employee morale.

With respect to restaurants, most work related injuries are preventable!  It is important to identify and eliminate hazards by planning and good decision-making about how get work accomplished.

The most common workplace injury in restaurants is sprains and strains.  Bruises, burns and cuts are also common.  In general, a good plan of attack in restaurants is to remove or isolate workplace hazards, improve work practices and use protective equipment and clothing when appropriate.

An illustrative example is helpful to understand this roadmap.  For example, many restaurant workers get burned cleaning deep fryers, or when lowering frozen food into the fryers.  Aspects of the hazard can be removed by installing grease pans which automatically dump grease for cleaning.

An example of safer workplace practices would be to train the importance of and require the shaking of ice crystals off frozen foods before putting them into the deep fryer.  This simple practice can help reduce and avoid dangerous splattering.  There is numerous protective clothing and equipment which can be worn including gloves, long aprons and sleevelets.  Any of this protective clothing should resist heat and grease up to at least 400 degrees.

Obviously, the best situation is when workplace hazards can be completely eliminated.  This eliminates the necessity of employees following procedures or using personal protective equipment with respect to certain potential hazards.  Employees following procedures or using personal protective equipment is of course a desirable practice for reducing exposures.  However, in practice, both of these can be lacking when restaurants get very busy.

Thus, it is best if restaurant environments can be safe workplaces even as busy working conditions makes it less likely that employees will utilize ideal practices.  Eliminating and isolating workplace hazards is the best solution to reducing workplace injuries in restaurants, especially when things get very busy.

For any restaurant, it is import to create a safe workplace with respect to the most common workplace hazards.  With respect to cooking surfaces and ovens, there should be built-in guard bars, overcrowding should be avoided, pots should not be filled too full, burner flames should only cover the bottom of pans, pot handles should be set away from burners and not stick out over the end of a cooking surface, tongs should be used to lower food into boiling water, and hot oil and grease should never be left unattended.

With respect to knife safety, the correct size and types of knives are important, box cutters should be provided for opening boxes, knives should be stored properly in areas where the blades are guarded, knives must be kept sharp,  knives should never be left in soaking water, a damp cloth should be placed under cutting boards in use to avoid slippage, and it is important to let falling knives fall (as opposed to trying to catch them) – simply step back and warn others.  Cut resistant gloves are also helpful.

Another major concern is slips and falls.  It is important to wear non-skid, slip-resistant shoes, have safety mats, have enough work space and avoid moving too quickly, keep walkways clear and free of clutter, maintain carpet and flooring in good conditions, don’t carry items that are so tall they obscure vision, and warn others when walking behind them.

Although this blog only scratches the surface of restaurant safety, hopefully it gives you a flavor of ways to increase employee safety in your restaurant.

Workers Compensation Shop.com specializes in Workers Comp Insurance for Restaurants across the U.S.  Many of our insurance carriers offer the lowest filed rates in their respective states across the country.  Give us a call today for a quick and easy workers compensation quote for your restaurant.

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How Missouri Workers Compensation Changes will Affect Employers in 2014

Posted on November 4, 2013 by Alex McFarland

With January 1 right around the corner, many business owners are anticipating the impending changes for workers compensation rates, rules, and regulations in MO. Insurance is a major concern for business owners as it is a critical portion of their annual overhead and operating costs.

To prepare yourself for the upcoming year, I want to point out to employers some of the most important changes you will be seeing and what that direct impact will have on your bottom line.

Missouri Second Injury Fund Surcharge:

This surcharge was founded on great principals to promote the hiring of disabled American veterans from World War II. The idea behind this surcharge was that a small percentage of the estimated annual premium would be paid into this fund to help an injured worker when a new injury combines with a prior injury that results in a larger overall disability.

Unfortunately, the 3% that was collected by this fund has proven to not be enough to collect and the SIF is bankrupt. What this means is that, in 2014, the fund will double its surcharge from 3% up to 6%.  This will affect not only business owners, but also consumers as well.

Missouri Workers Compensation Rates:

The National Council for Compensation Insurance has also recommended that Missouri take an approximate 11% increase in the rates for the coverage across the board as well. With the skyrocketing cost of insurance, this is the only way to provide adequate premium to cover potential claims. This increase is considered to be an average increase. So, although some may see an increase, others could see a decrease in their overall costs.

If there is a bright side to this information, it is that as consumers, we can all do our due diligence to shop the comp market in order to see what carriers are able to offer in terms of rates and credits. Not all carriers will be taking the same increase in rates recommended by NCCI.

The only way that a business owner will know for sure if they are getting the best price for their workers comp in Missouri is to shop for the coverage!  Fortunately, The Insurance Shop has multiple markets here in Missouri that we can look toward for competitive pricing. So, if your current agent tells you that he is presenting your renewal coverage with the best price, remember, that could only be the best price that they are able to offer.

In order to plan for this, what you need to do is to request a copy of your “currently valued loss runs” from your current and prior carriers, ask for a copy of your “experience modification worksheet” and give our agency a call.

We are located in Columbia, Missouri and ready to help you in the best way possible. Helping you keep more of your hard earned money as profits!

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