These seven deadly sins can destroy the financial
success of your business:
#1: Attitude
Attitude is everything. Poor, sour attitudes towards
claims, workers' compensation companies and ever
increasing insurance premiums will inevitably result
in continual business frustration and distraction.
Let us adjust your attitude and help you use the
system to your advantage and success.
#2: Value
People always underestimate the true value of
a workers' comp policy. They ignore what it covers
and what it doesn't, what it's for, how much protection
it affords them and against what. Don't underestimate
the tremendous value of proper worker's compensation.
It is your only lifeline during a crisis.
#3: Payroll
Don't miscalculate what you spend on payroll!
Workers' comp. premiums are based upon total payroll
amounts at the end of the year. Incomplete, or
unreported payroll records WILL result in an underpayment
of insurance premium and WILL resurface in an audit.
Consequently, you WILL owe money! It is likely
that you will owe thousands or tens of thousands
of dollars. Worse, the consequence of poor organization
is the payment of dollars and premium that complete
records would negate and wipe out completely!
#4: Subcontractors
Subcontractors are a valuable business resource--
however-- their misuse, improper substitution,
or the labeling of an employee as a subcontractor
can be disastrous. Don't assume subcontractors
have (or have enough) coverage. Don't use subcontractors
to resolve the necessity for employees. You can't
escape workers' compensation insurance!
#5: Hiring
Practices
Unsatisfactory, or no hiring practices at all
puts you on thin ice at best. Bad employees mess
up your workers' comp record, and this results
in much higher premiums. Always check an employee's
personal history, criminal background, drug usage
(testing), references, education, qualifications,
and certifications.
#6: Safety
Safety on the job is paramount. Employees are
like your best equipment: you need to take care
of them, because they are not cheaply (or easily)
replaced. Claims are usually the result of inadequate
procedures, policies, awareness, and safety training.
#7: Classification
You may have a legitimate claim. You may not even
have been at fault. BUT if you are misclassified
in any way, your insurance is not obligated to
pay. If you are misclassified, you are tap dancing
on a landmine.
Thank
You for taking the time to read the 7 Deadly Sins
Report.
You
could be just minutes away from lowering
your insurance costs. Take the first step
and apply now for a cost-free, no-obligation
quote within 24 hours in Remember, You can't
save if you don't compare.
