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Part 2: Workers’ Comp Independent Premium Audits Explained

AMAXX

In this three-part series, we are examining nine elements of independent premium audits to help you better understand and control your workers’ compensation premiums. These foundational aspects are crucial for ensuring accurate premium calculations and avoiding costly mistakes.

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The Grand Bargain: How Workers’ Comp Became a Win-Win for Employers and Employees

AMAXX

The workers compensation system may feel like a complex web of insurance premiums, claims adjusters, and legal disputesbut at its core, its rooted in one simple idea: a compromise. What if workers gave up the right to sue in exchange for guaranteed, timely benefits? In other words, both parties won.

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Part 1: Workers’ Comp Independent Premium Audits Explained

AMAXX

When an employer receives a revised workers’ compensation premium bill, the accuracy of the bill can be uncertain and confusing. To ensure fairness and correctness, an independent premium audit is highly recommended. Payroll Information A critical step in any premium audit is the review of an employer’s payroll.

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Part 3: Workers’ Comp Independent Premium Audits Explained

AMAXX

In this final part of our series exploring the nine elements of independent premium audits, we turn our focus to specialized situations and nuanced adjustments auditors carefully evaluate. Auditors disallow estimates, making precise documentation vital to receiving the intended premium savings associated with this exception.

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Who Really Pays for Workers’ Comp? Debunking a Common Myth

AMAXX

In reality, the employer foots the bill for every dollar spent in the workers compensation system. Understanding who truly pays for workers comp is more than a technicalityits a mindset shift that unlocks better program management, smarter spending, and improved outcomes for injured workers. roofing vs. clerical work).

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10 Mistakes That Blow Up Workers’ Comp Costs (and How to Avoid Them)

AMAXX

In reality, workers comp costs are one of the most controllable expenses in your organization. If you’re serious about lowering premiums, reducing claim durations, and improving outcomes for injured workers, start by identifying and correcting these ten common pitfalls. Avoid It : Shift your mindset.

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Understanding Classification Rules in Workers’ Compensation

AMAXX

When it comes to managing workers’ compensation, understanding classification rules is fundamental. These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. What Are Classification Rules?