Workers Compensation Insurance-When you own a business and have employees, this insurance provides coverage to your employees for work related injury or disease. The benefit provided goes to the employee in the form of medical care, lost wages and a death benefit if death should occur from a work related injury.

For our timber clients we have numerous markets that provide competitive pricing for work comp while offering a quality product.

We have two preferred markets beyond what is offered through the MN Assigned Risk program for our logging clients. These additional markets have more favorable pricing, but have premium volume restrictions and also look closely at loss experience when determining acceptability of risks applying for coverage.

Because work comp can be one of the most expensive insurance coverages that a business purchases, we emphasize to our insureds that they need to implement procedures to provide the safest work-site possible for their employees regardless of the type of industry they are involved in.

Safety for employees is something that all employers regard highly and in some cases an outside observer can provide insight regarding simple procedures that can be implemented to make the work place even safer. Work-site safety precautions can vary immensely by the type of industry being insured. The companies that we represent will be glad to make recommendations in addition to those that we might see when visiting your site.

Special coverage we would suggest:

• Increased limits of coverage from the statutory limits of $100,000/500,000/100,000 up to a coverage level of $500,000/500,000/500,000.
• It is important to provide accurate estimates of annual projected payroll figures as well as proper classifications of payroll distribution between different employee positions. By providing accurate payroll figures the client can minimize the possibility of a large additional premium owing when the policy renews and the audit is complete. All work comp policies are rated on the payroll of the business and are audited to determine that accurate premiums have been charged.
• Depending upon your type of operation you could be placed with one of our carriers who offers a monthly reporting form of premium calculation. The monthly reporting form of premium calculation simply means that you will pay your premium on a monthly basis based on the payroll that you had for that month. During slow times of the year your lower payroll accounts will be reported and the associated work comp premium will also be lower to match the actual payroll for that monthly period.