Pay as you go workers comp is the simple concept of paying your workers comp insurance via a payroll service. Traditional Work Comp Insurer’s bill your premium by estimating your annual payroll at the beginning of the policy period. At the end of the policy year they send in an independent auditor to reconcile the actual payroll. If you underestimated … Read More
New York State Workers Compensation Law
NY State Workers’ Comp law allows corporations with 2 executive officers or less to exclude themselves from the Workmans Comp Policy. Many new businesses believe they are saving a lot of money by doing so. In reality, if they are coded properly, the executive officer cost is minimal. However, in the case when an executive officer is also performing manual … Read More
New York Comp Rates Update – Commercial Contractors Take Notice
Don’t forget to file for the Construction Classification Premium Adjustments Program (NYCCPAP). The program allows for additional premium discounts off your New York workers comp policy. The program applies to commercial contractors with an average weekly wage over $15.50 per hour for eligible class codes (see below). 0042 5057 5193 5429 5491 5606 6003 6229 6325 9526 3365 5059 … Read More