Workers Comp Insurance
At Broker Solutions, we take a strategic comp approach to workers’ comp. This gives businesses more control over cost, risk, and outcomes. Through creative and thoughtful strategy, we’re able to make workers comp work for everyone.
Contact us to learn more about Brokers Solutions workers comp services.
Benefits of Strategic Workers’ Comp
40% average reduction in claims after one year
35% lower claim costs YoY
60% fewer open claims per adjuster
How are strategic comp solutions different?
Upset the model: Safety can lead to savings.
Mitigate risks: Prevent accidents from happening.
Control the claim: Fight fraud and improve service.
How does workers’ comp work?
Workers' compensation, or workers' comp, is a government system that provides financial and medical benefits to employees who are injured or become ill as a result of their job.
Workers’ comp serves as a form of insurance that employers are required to carry to protect employees and themselves from financial consequences of workplace injuries and illnesses. In general, employers are required by law to provide workers’ comp insurance to full-time, part-time, and temporary workers, but not independent contractors.
Workers’ Comp Insurance Cost
Brokers Solutions offers competitive pricing on our workers’ comp insurance packages and promise to work with you to meet your client’s needs and budget. Workers’ comp insurance cost in California is dependent on the number of employees, payroll, and many other factors.
Our team will help you find a workers’ comp solution that is cost effective and scalable.
Contact us to get started today.
Workers’ Comp FAQs
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Workers' comp covers a range of benefits and expenses related to work injuries and illnesses. These can include expenses and benefits like:
- Medical costs
- Temporary disability
- Permanent disability
- Vocational rehabilitation
- Death benefits
- Disfigurement or scarring
- Travel
- Prescription medication
While the exact calculation of workers’ compensation benefits can vary by policy and jurisdiction, there are some guidelines for determining the amount an employee can receive.
Average Weekly Wage (AWW): The injured employee's average weekly wage is a key factor in calculating workers' compensation benefits. Workers' comp is typically calculated as a percentage of the AWW, which usually ranges from 60% to 75%.
Temporary and Permanent Disability Benefits: Employees may be eligible to receive temporary and permanent disability benefits for both total and partial disabilities. Partial disability benefits come into play when an employee can still work, but their earnings are negatively impacted due to a work-related injury. In this case, the benefits are calculated as a percentage of the wage difference between the pre-injury earnings and the reduced post-injury earnings.
Caps and Limits: Many jurisdictions impose caps or limits on the maximum amount of workers' compensation benefits that can be paid to an employee. These limits can vary based on the severity of the injury, type of benefits being claimed, and local laws.
The specific requirements for obtaining workers' compensation insurance depends on the state or country where the business operates, but in general, any employer with full- or part-time employees is required to provide coverage.
High-risk industries, like construction, manufacturing, agriculture, transportation, and healthcare often have stricter requirements related to workers’ compensation.
Don’t just take our word for it
Nick Minetos
PEO Emperor
Contact the Brokers Solutions team to get started today!
Our dedicated experts are here to guide you through a personalized journey, providing insightful advice and tailored solutions that align with your unique needs.