Technology company worker’s compensation insurance isn’t as straightforward as you would think.
There are several unique contributing factors that technology companies must be aware of in order to properly set up their worker’s comp policy.
If not addressed, you open your business up to potential gaps in coverage, penalties and overcharges.
Here’s what you need to know and how to solve the problem…
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Technology Company Workers Comp Insurance
When it comes to technology insurance in general, the feedback we receive from new clients is that they thought coverage would be straightforward.
Technology, as an industry, is dynamic in nature.
While you do mostly have people in office settings, you also have remote workers and workers outside of the country.
You may have people that are actually manufacturing goods, you may have programmers, inside and outside sales individuals, customer service, executive leadership, and board members.
Not to mention, I have a couple of technology industry clients that actually deliver hard products to their customers with their own drivers and auto fleet.
All of this, if not properly set up, can lead to many headaches from your worker’s compensation insurance.
Headaches from workers comp include:
- Gaps in the audit process leading to large end-of-year bills,
- Penalties for not covering a certain class of business,
- Miss classifying classes of business because of specific state codes,
- and the list goes on…
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The solution is simple, don’t “DIY” your insurance.
Find someone you trust to walk you through this process of setting up technology company worker’s comp insurance.
This is going to sound self-serving, but find someone like our team here at Rogue Risk. We’re worker’s compensation specialists, it’s what we do. That’s why I created the video above…
Regardless of who you choose, make sure they’ll take the time with you to understand your business, walk you through the process and ask you the questions.
Not only how to properly set up your workers’ compensation policy, but how to put the processes and procedures in place to make sure that you’re pushing your comp premiums down to the legal minimum.
Your worker’s comp policy is likely, fairly dynamic and complex. More than most classes, (except for maybe contractors and manufacturers). So take your time with it, set it up right because a poorly set up workers’ compensation program is like a ticking time bomb.
All of a sudden, one of these years, you’re going to get that audit. And if you didn’t do the right things, if you didn’t tick the right boxes, if the right people aren’t covered, worker’s comp auditors can go back in time and they can pull premium out and force you to pay a larger bill than you could’ve ever expected.
This is where we come in at Rogue Risk.
We’re workers compensation specialists and can help you navigate market and workforce changes to make sure you have the coverage you without being overcharged.
You can start with a free Workers Comp Experience Mod Audit, or you can use the options below to get a quote today!
- You can call or text us at 518.960.6600.
- Click here to contact us via email.
I look forward to introducing you to a new way of viewing your insurance program.