workers’ compensation policy in Texas

Choosing a Workers’ Compensation Insurance Policy

Employers may find it overwhelming to take into consideration all of the different aspects of workers’ compensation coverage. Consulting with a knowledgeable insurance agency can help employers decide on the best workers’ compensation policy in Texas for their business and their employees. An agency can also advise employers about different avenues that may be available in terms of workers’ compensation options.

Different factors influence workers’ compensation insurance rates and the choice of policy. Every workers’ comp insurance policy takes into account the various types of jobs that are present in a given workplace. The potential dangers and risks of each job in the company need to be assessed, even for jobs that do not involve an obvious risk of injury. The selection of a policy also depends on the EMR of the business, or Experience Modifier Rate. EMR is a numerical depiction of how a particular business’s history of insurance claims and safety compare with that of other companies of the same type. An EMR greater than 1.0 suggests that a company poses a greater than average safety risk, while an EMR less than 1.0 suggests that a company poses less risk than average. Other factors such as payroll audits, a company’s present workers’ comp policy, the presence of safety education curriculum, accident investigation procedures and changes in employee populations can influence the choice of workers’ comp policy.

Selecting the best workers’ compensation policy in Texas can be a daunting task. In this regard, an experienced and reputable insurance agency can be a Texas business owner’s best friend.