Workers' Compensation Insurance Tailored to Your Needs

Workers' Compensation Insurance

Workers’ Compensation Coverage Workers Compensation insurance may be common, but finding the right solution for your business may not be so simple. If your business has employees, Workers’ Compensation insurance may be mandatory.

Workers’ Compensation is an exclusive remedy system that provides payments to injured employees for medical bills resulting from on-the-job injuries. Your CoSaint agent will perform a thorough risk assessment to determine ways to minimize risks, reduce workplace injuries, identify hazards and eliminate potential problems. These services are very helpful in holding down claim costs over the long term.

At CoSaint, we will help you find the right coverage for your workers’ compensation insurance needs. We have access to leading carriers in the commercial insurance industry and will help you find the right coverage at the most affordable price.

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More About Workers' Compensation Insurance

Workers’ Compensation insurance (“Workers’ Comp”) is a mandatory type of insurance carried by many businesses. Workers’ Compensation insurance covers medical costs and a portion of lost wages for an employee who becomes injured (or ill) while on the job. Workers’ comp insurance also protects companies from being sued by employees for workplace conditions that can cause an injury or illness.

Workers’ Comp insurance is required by law in almost every state (typically if you have more than 3 employees). Workers’ comp laws are designed to ensure payment by employers for some part of the cost of injuries, or in some cases, of occupational diseases, received by employees in the course of their work.

It is important to note that Workers’ Compensation is an auditable policy. This means, that the initial premium is based on your estimated payrolls for the upcoming policy period. At the end of the policy period, an audit is typically performed to ensure the premium reflects the actual payroll amount. State laws and other governing bodies require the policy be audited to ensure employers are paying for their actual exposure. Differences between the estimated information and the actual information obtained through the audit may result in payment of an additional premium or a premium refund. In addition, the payroll on your current policy may be adjusted to reflect the updated information.

CoSaint also offers a “pay as you go” solution that reduces the burden of the audit process. In these situations, you will submit your actual payroll information each period and your Workers’ Comp premium is adjusted real-time. Speak with your CoSaint agent to learn more about the best solution for your Workers’ Compensation needs.

Workers' Comp Insurance in SC & NC

CoSaint offers Workers’ Compensation insurance in South Carolina, North Carolina, Ohio and Kentucky. When it comes to Workers Compensation insurance, CoSaint will work with you to assure you have the appropriate amount coverage at the right price. As an Independent Insurance Agency, we will get quotes from leading insurance companies to help you select the most effective and affordable coverage possible. We will then walk you through your options and help you identify additional savings. You can sleep easy knowing your employees are protected and CoSaint is with you every step of the way.