Workers Compensation is an insurance coverage based upon the payroll of a company or organization. Each company has different exposures and thus different classes and rates that apply. The most common class is that of clerical for an office exposure and the rate is approximately .15 cents per hundred dollars of payroll.To figure your cost, simply take your clerical wages divided by 100 times the .15 and boom goes the dynamite, that is your annual
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In today’s society, Employee Theft (also called Employee Dishonesty) has grown to be a prominent issue in the workplace compared to years past. It could be because of the economic downturn we experienced, but here are the statistics: 27% of large companies see an increase in employee theft 7% of annual revenues LOST due to employee theft 37.1% of all frauds committed by a manager 2 years go by before an office fraud is caught
It is no surprise when one finds out that their small car has a poor safety rating. But according to some new research by the Insurance Insitutute for Highway Safety (IIHS), these ratings are on the upswing. IIHS evaluated 13 small cars in terms of safety. At the conclusion on the rating, six earned top safety awards. Additionally, none of them walked away with a “poor” rating. (Areas evaluated: front, rear, side, and rollover impact.)
In a lot of businesses, the use of a company car is extremely necessary. But what most don’t know is that there is a huge exposure when employees take the company car to run errands or go on business trips. Businesses with company vehicles need to make sure a “Hired Non-Owned Auto Endorsement” is added to their commercial auto policy. Additionally, business owners should make sure that those driving their vehicles should have an “Extended
In today’s economy, it comes to no surprise that businesses are learning to operate on less. But, let’s say that in an attempt to cut one’s overhead, a business owner terminates an employee. A month later, the owner (let’s call him Kevin) receives a letter from the law firm of said employee, stating that the termination was unlawful. When Kevin went to his insurance agent to ask if this is covered in his current insurance