WORKERS COMPENSATION FOR CONTRACTORS:
Workers comp for contractors provides coverage for on-the-job injuries and lost wages protection for employees. It also includes Employers’ Liability, which defends business owners against covered claims of wrongful injury or negligence brought by workers. Most states require businesses with employees to have some form of workers compensation insurance.
Proof of Coverage:
Clients often ask for a ‘Certificate of Liability’ to show you have workers comp. They may request a ‘Waiver of Subrogation’, which we can help set up as either a ‘Blanket Waiver’ or a ‘Scheduled Waiver’. We’ll guide you through the options. Some clients need specific ‘Special Wording’ on certificates. Before bidding or accepting a contract, ask for their ‘Insurance Requirements’. Let’s review these together to ensure you understand the costs and include them in your bid. We’ll also help identify other coverage requirements for contractors and explain any extra responsibilities or liabilities you might be taking on.
Workers Comp Cost Control for Contractors:
- Use these tips to manage your company’s health and future. Ask us for help until you can lead by example and follow your safety program and ethics code (have these as written manuals).
- Join your insurance carrier’s ‘Medical Provider Network’ (MPN). This helps you control which doctors treat your workers and can help with pre-hire screenings.
- Follow OSHA’s Injury Illness Protection Program (IIPP) and other rules. Post safety manuals and posters on-site as required by law. Know your state’s rules and keep their injury reporting numbers handy. Hold safety meetings every 10 days and keep records.
- Learn what counts as ‘First Aid’ and how it affects your Experience Rating and Modification Factor (MOD) if you have one.
- Make a ‘Return to Work Plan’ (RTW). This pays injured workers less while they do light duties you assign. It’s meant to motivate them to return to their regular job sooner.
- Start a ‘Wellness Plan’. This creates a healthier workplace and boosts morale. Encouraging healthy choices leads to loyal, positive workers with good habits.
- Write a ‘Code of Ethics’ and a ‘Safety Manual’. Following these and setting a good example is crucial for your company’s health and future.