: 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.
: This class is an independent-study course. Students will have all the resources needed to successfully complete the course within the online material. A student helpdesk is available for technical support during the course enrollment.
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Lesson 1
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
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