Workers' Compensation: A Field Guide for Employers covers all the topics a student needs to know to understand Workers Compensation insurance, including how to reduce premium costs. Topics covered include how Workers' Compensation insurance is priced and audited. This course explains the classification system used by insurance companies, the audit process, experience modification factors, and how and why overcharges occur. Most importantly, it explains in plain language to students how employers can protect themselves from the common mistakes the insurance industry makes that cause Workers' Compensation premiums to be higher.
* You have 4 weeks to complete this course from date of your enrollment.
Worker's Compensation: A Field Guide for Employers course content
The Worker's Compensation: A Field Guide for Employers course consists of 4 modules:
Workers' Compensation: A Field Guide for Employers Module 1 The "Big Picture" State-By-State and Workers' Compensation Policy and Premiums
- Workers’ Compensation is, primarily, an obligation imposed upon employers by state statutes. A standard Workers’ Compensation insurance policy is a unique contract in many respects.
- Benefits, Coverage, and Rules Governing Premiums
- Understanding Your Policy
- Different Kinds of Workers' Compensation Policies
- The Employer's Duty Under the Policy
- Understanding How Premiums Are Calculated
Workers' Compensation: A Field Guide for Employers Module 2 Classifications and Audits
- The classifications that are assigned to a business can significantly affect how much premium the company pays every year for their Workers Compensation premium.
- The Classification System
- Common Classification Code Mistakes
- The Experience Modification Factor
- Prepare for Your Audit
- Common Audit Mistakes
Workers' Compensation: A Field Guide for Employers Module 3 Finding the Best Agent and Insurance
In addition to finding Workers' Compensation insurance and what needs to be done when a policy ends and the audit is being done. During those two events, there are many important steps that employers also need to take to control their Workers' Compensation costs and make sure their coverage is right.
- Choosing the Type of Agent
- Choosing Insurers and Consultants
- Managing Workers' Compensation Costs Between Renewals
- Alternative Approaches to Traditional Insurance
- Finding the Right Coverage
Workers' Compensation: A Field Guide for Employers Module 4 Alternative Approaches, Employers and Strategy
The pressures created by the costs of Workers' Compensation coverage have made new developments come along much more rapidly. The Workers' Compensation market poses some unique problems for employers of different sizes and types.
- New Developments in Workers' Compensation
- Alternative Approaches to Claims and Safety
- Tips for Large Employers
- Tips for Small Employers
- Different Employers, Different Strategies
After completng the Worker's Compensation: A Field Guide for Employers course
After completing the Worker's Compensation: A Field Guide for Employers course, you should be able to:
- Identify the "big picture" state-by-state
- Define your workers' compensation policy
- Name the classification system
- Recall the premium audit
- Identify techniques for choosing agents, insurers and consultants
Course duration
The Worker's Compensation: A Field Guide for Employers course is 24 hours long, taught over 4 weeks.
