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7 Dirty Secrets of Workers Compensation Insurance PDF Print E-mail
Articles - Workers Compensation Insurance
Article Index
7 Dirty Secrets of Workers Compensation Insurance
Dirty Secret #2
Dirty Secret #3
Dirty Secret #4
Dirty Secret #5
Dirty Secret #6
Dirty Secret #7
All Pages

Dirty Secret #1

Insurance companies don't pay for your employee injuries — they just finance them for you at usury interest rates.

Do you realize that you pay $2 to $3 back to the insurance company for every dollar they pay out for your employee injuries? Each claim results in the most expensive financing contract you have in your business.

You pay outrageous premiums. Then you have to pay for almost all of your claims. You pay:
  • For employee injuries through lost dividends and return of premium
  • Increased costs because your Experience Modification skyrockets
  • Lost productivity
  • Reduced morale for the unhurt employees who fill in for the injured employee
  • Increased stress for management and staff
You have Workers Compensation for only two reasons:
  • The law requires it.
  • Workers comp spreads the true cost of employee injuries out over time. Work Comp does not pay for employee injuries. You do!


 
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