2024 NCCI MOD EXPERIENCE CHANGES

NCCI MOD CHANGES

A QUICK GUIDE FOR 2024 NCCI MOD EXPERIENCE CHANGES

The National Council on Compensation Insurance (NCCI) is updating its experience modification factor for 2024, starting from November 1, 2023, in different states.

Changes Overview:

The NCCI oversees workers’ compensation in 36 states, starting changes from Aug 1, 2024.

The basic formula stays the same, but some components are adjusted to better reflect each state’s cost differences.

Specific Changes:

• Switch from a nationwide to state-specific split point.

• Recalculation of state accident limitations.

Why These Changes Matter:

Although the main formula stays, these tweaks could raise or lower employer premiums.

Benefits of Changes:

• More accurate experience rating modifications.

• Fairer treatment for states with varying cost structures.

• Better performance in states with high or low claim costs.

• Less impact from large outlier claims.

• Fairer calculation of employer claim counts.

• Fairer allocation of credibility to each employer's loss history.

• Simplified calculations.

State-Specific Split Points:

The split point is vital in the formula. It divides each claim into two parts: primary (up to the split point) and excess (above it).

Why It Matters:

Primary losses have more weight in the formula. The D-ratio represents the expected percentage of losses below the split point.

The Change:

Each state gets its split point value based on its average claim costs. This aims for fairer modifications across states with different cost levels.

Impacts:

The changes will vary by state, affecting some businesses with higher or lower experience modifications.

Methodology for State Accident Limitations (SAL):

SAL caps excessive claims to keep modifications accurate. The revised SAL lowers caps across states.

Who's Affected:

NCCI-governed states and some independent bureau states. States with distinct plans won’t be affected.

Organizational Impacts:

Overall, no significant statewide premium impact is expected. Individual employer-level adjustments may vary, with most seeing changes of less than +/-5%.

#staffing #staffinginsurance #staffingworkerscompensation

Mastering Workers' Compensation Costs: 5 Quick Tips for Staffing Companies

Work Comp TIPS

5 Quick Tips for Staffing Companies

Implementing these tips can help your staffing company create a safer work environment, reduce the frequency and severity of workers' compensation claims, and ultimately save money on insurance costs.

Implement Safety Programs:

Establishing and enforcing comprehensive safety programs can significantly reduce workplace accidents and injuries. A safe work environment not only protects employees but also lowers the risk of workers' compensation claims. Regular safety training, hazard assessments, and the use of personal protective equipment are essential components of an effective safety program.

Risk Management Strategies:

Engage in proactive risk management by identifying potential workplace hazards and developing strategies to mitigate them. Conduct regular safety audits, address any identified risks promptly, and keep detailed records of these efforts. Insurers often reward companies with strong risk management practices by offering lower premiums.

Return-to-Work Programs:

Implementing a structured return-to-work program can help injured employees get back to work sooner. This reduces the duration of workers' compensation claims and associated costs. Offering modified or alternative duties for injured workers, when feasible, not only supports their recovery but also minimizes the financial impact on the staffing company.

Employee Training and Communication:

Educate employees on the importance of safety, injury prevention, and prompt reporting of any incidents. Clear communication channels regarding safety protocols and reporting procedures can help prevent accidents and ensure that potential issues are addressed promptly. Well-informed employees contribute to a safer work environment, reducing the likelihood of costly claims.

Annual Insurance Coverage Review with Your Agent:

Collaborate with your insurance agent on an annual basis to review your workers' compensation insurance coverage. As the staffing industry evolves and your business grows, the risk landscape may change. Regularly assessing your coverage ensures that it aligns with your current needs and helps identify potential areas for improvement or cost savings. Your insurance agent can provide valuable insights, recommend adjustments, and negotiate on your behalf, optimizing your coverage while keeping costs in check. Regular reviews also allow you to stay informed about industry trends and changes in regulations that may impact your workers' compensation insurance requirements. This proactive approach helps maintain an optimal balance between coverage and cost, ensuring your staffing company is well-protected.

Should your staffing company require assistance with workers' compensation or risk management, please reach out to our team at Akker, LLC. We welcome the opportunity to collaborate with you.

Contact us - info@akkerins.com

#staffing #staffinginsurance #safety #staffingworkerscompensation #workerscompensation #staffingsafety

Navigating Changes in Automatic Gratuities: Insights for Hospitality Staffing Agencies

Hospitality Staffing

How Automatic Gratuities can effect your workers compensation cost.

For staffing companies operating in the dynamic realm of hospitality, where gratuities form a vital part of employee income, recent developments are causing ripples of change. Automatic gratuities, a customary practice in restaurants and hospitality establishments, are undergoing transformations that could significantly impact not only how tips are managed but also the realm of workers' compensation premiums. In this article, we'll delve into this evolving landscape and offer insights tailored to staffing agencies in the hospitality sector.

Decoding Automatic Gratuities:

Automatic gratuities, commonly known as "auto-grats," have gained prevalence in the hospitality industry. These predetermined tips are directly added to customer bills, especially for larger groups or special occasions, ensuring equitable compensation for the workforce. The goal is to mitigate instances of inadequate tipping or omission of gratuities altogether.

A Changing Paradigm:

Yet, the paradigm of automatic gratuities is shifting, leading to changes that demand attention. Historically categorized as regular income, auto-grats are now being viewed differently, potentially impacting workers' compensation premiums – a crucial consideration for staffing agencies specializing in hospitality placements.

Influence on Workers' Compensation Premiums:

Workers' compensation premiums are fees paid by businesses to secure insurance coverage for employees who might sustain workplace injuries. These premiums are influenced by several factors, including industry classification, payroll size, and the frequency of compensation claims.

The evolving status of automatic gratuities has the potential to disrupt this equation. If auto-grats are reclassified as service charges rather than conventional wages, the payroll amount considered for premium calculation could undergo adjustment. Consequently, this might ripple through the overall cost of workers' compensation coverage for staffing agencies and their clientele.

Anticipating Opportunities and Challenges:

The evolving perspective on automatic gratuities brings forth a series of opportunities and challenges specific to staffing agencies. On one hand, agencies might need to navigate intricate payroll classifications and the potential for augmented workers' comp premiums. On the other hand, this change could catalyze a reevaluation of compensation models, potentially leading to elevated morale among the workforce and an enhanced standard of service.

Adapting Strategically:

As staffing agencies in hospitality embrace these shifts, strategic adaptability becomes paramount. The potential impact on workers' compensation premiums underscores the importance of reevaluating payroll processes and, potentially, seeking expert advice to navigate complexities. Moreover, fostering transparent communication with both placed employees and partnering establishments about tipping guidelines and any resultant adjustments is critical for fostering a harmonious working environment.

For staffing agencies specializing in hospitality placements, the evolving landscape of automatic gratuities extends beyond mere operational alterations. Keeping a pulse on these changes and their potential implications for workers' compensation premiums is vital. By staying informed, adapting nimbly, and prioritizing equitable treatment of staff, agencies can effectively navigate these shifts, continuing to provide exceptional staffing solutions that benefit both clients and employees within the hospitality sector.

#staffing #staffinginsurance #insurance #workerscompensation #staffingworkerscompensation

Understanding Staffing Work Comp Waiver of Subrogation and Alternate Employer Endorsement

Workers’ Compensation

Waiver of Subrogation vs. Alternate Employer Endorsement

In the dynamic world of staffing, it is essential to understand the nuances of insurance and workers' compensation to protect both the staffing company and its clients. Two critical endorsements that often arise in staffing agreements are the Work Comp Waiver of Subrogation and Alternate Employer Endorsement. In this blog, we will delve into the significance of these endorsements, why clients are requesting them, and how they provide protection for the staffing company and their end client.

Work Comp Waiver of Subrogation:

The Work Comp Waiver of Subrogation is a contractual provision that relinquishes the staffing company's right to seek reimbursement from a third party for damages or injuries covered under workers' compensation insurance. Instead, the staffing company and their insurance carrier solely bear the financial responsibility.

Why clients ask for this endorsement:

a. Simplifies legal processes: By including a Work Comp Waiver of Subrogation, clients can avoid potential litigation or disputes between the staffing company, the client's insurance carrier, and the third party involved. It streamlines the legal process by assigning responsibility solely to the staffing company.

b. Minimizes delays and expenses: In case of a workplace injury or accident, clients can expedite the claims process as the staffing company's insurance carrier handles all the necessary documentation and settlements. This helps avoid lengthy legal battles, ultimately reducing costs and delays for the end client.

Alternate Employer Endorsement:

The Alternate Employer Endorsement is designed to protect both the staffing company and their clients when the employees are assigned to work at a client's premises. This endorsement adds the client as an "alternate employer" to the staffing company's workers' compensation policy.

Why clients ask for this endorsement:

a. Comprehensive coverage: The Alternate Employer Endorsement ensures that the staffing company's workers' compensation insurance extends coverage to employees when they work at the client's location. It safeguards the end client against liability for workplace injuries or accidents that occur during the staffing company's employees' assignment.

b. Cost and risk allocation: By including the Alternate Employer Endorsement, clients can transfer a portion of the workers' compensation insurance burden to the staffing company. This shift in responsibility helps protect the client's bottom line while maintaining a productive and secure working environment.

In the realm of staffing insurance and workers' compensation, the inclusion of specific endorsements in agreements is crucial for protecting the interests of all parties involved. The Work Comp Waiver of Subrogation and Alternate Employer Endorsement are two such endorsements that clients frequently request to ensure their financial well-being and mitigate potential liabilities. By understanding the significance of these endorsements and their implications, staffing companies can navigate contractual negotiations more effectively, build stronger client relationships, and demonstrate their commitment to comprehensive risk management.

Protect Your Staffing Company with Wage and Hour Insurance

WAGE And HOUR

Protect Your Staffing Company with Wage and Hour Insurance

Running a staffing company comes with its fair share of risks and challenges. From recruiting and managing employees to ensuring legal compliance, staffing companies face unique liabilities in the ever-evolving landscape of labor laws. One crucial aspect that requires careful attention is wage and hour compliance. In this blog post, we will delve into the importance of wage and hour insurance for staffing companies, what it covers, and why it differs from employment practices liability insurance (EPLI).

Understanding Wage and Hour Insurance: Wage and hour insurance is a specialized form of coverage designed to protect staffing companies from claims related to wage and hour violations. It provides financial protection for allegations of unpaid wages, overtime violations, misclassification of employees, and other related claims. This type of insurance safeguards staffing companies against potential legal costs, settlements, and judgments resulting from such claims.

Wage and hour insurance typically covers the following areas for staffing companies:

1.     Unpaid Wages: This coverage includes claims related to miscalculated wages, unpaid overtime, missed breaks, or failure to pay employees for all hours worked.

2.     Misclassification: When employees are misclassified as independent contractors, wage and hour insurance can provide coverage for claims arising from misclassification violations.

3.     Meal and Rest Breaks: Claims related to denied or insufficient meal and rest breaks fall under this coverage, protecting staffing companies from potential legal liabilities.

4.     Recordkeeping Compliance: Insufficient recordkeeping can lead to penalties and fines. Wage and hour insurance can cover claims resulting from violations of recordkeeping requirements.

5.     Defense Costs: Legal defense expenses can be significant. Wage and hour insurance typically covers defense costs, including attorney fees and court-related expenses.

Why EPLI Insurance Does Not Include Wage and Hour Coverage: It's important to understand that employment practices liability insurance (EPLI) and wage and hour insurance are two distinct types of coverage, each serving a different purpose. While EPLI insurance provides protection against claims such as wrongful termination, discrimination, and harassment, it generally excludes wage and hour violations.

Wage and hour claims are considered separate from EPLI claims due to the unique nature of the risks involved. Wage and hour violations typically stem from alleged violations of federal, state, or local labor laws and regulations. These claims often require specific documentation and evidence related to hours worked, wages paid, and employee classification. Since the coverage scope and risks associated with wage and hour claims differ significantly from traditional employment practices claims, a specialized form of insurance is necessary.

As a staffing company, maintaining compliance with wage and hour regulations is crucial to mitigate potential legal risks and protect your business. Wage and hour insurance provides vital coverage against claims of unpaid wages, misclassification, and other violations related to labor laws. Remember that wage and hour insurance is distinct from EPLI insurance and offers specialized protection in this particular area.

When considering insurance coverage for your staffing company, it's essential to consult with an experienced insurance professional who can help assess your specific needs and recommend suitable policies. By investing in comprehensive insurance coverage, including wage and hour insurance, you can safeguard your business, employees, and reputation from the potential financial and legal consequences of wage and hour violations.

Exploring Workers Compensation Insurance: Guarantee Cost vs. Large Deductible

Guarantee Cost vs. Large Deductible

The financial differences for Guarantee cost vs. large deductible staffing workers compensation insurance.

Protecting employees and managing workplace risks is a crucial priority for every responsible business owner. Workers compensation insurance plays a significant role in ensuring the well-being of employees and safeguarding the financial stability of a company. When it comes to workers compensation insurance, two common options are guarantee cost and large deductible policies. In this blog, we will delve into the differences between these two types of insurance and discuss their respective benefits and financial implications.

1. Guarantee Cost Workers Compensation Insurance: Guarantee cost workers compensation insurance is the traditional and most straightforward option. Under this policy, the insurance carrier assumes the responsibility of compensating injured workers, regardless of the claim's cost. Here are some key benefits and considerations of guarantee cost insurance:

Benefits: a. Predictable Budgeting: With guarantee cost insurance, employers pay a fixed premium based on the projected payroll and risk associated with their industry. This allows for more accurate budgeting and financial planning. b. Lower Initial Costs: Guarantee cost policies generally have lower upfront costs, making it an attractive option for businesses with limited cash flow or smaller budgets. c. Minimal Claims Management: In this insurance model, the insurance carrier handles all aspects of claims management, including claim investigation, settlement negotiations, and payments.

Financial Considerations: a. Higher Premiums: Guarantee cost policies often come with higher premium rates since the insurance carrier takes on the full risk of compensating injured workers. b. Limited Control Over Claims: Employers have limited influence over claim management decisions, as the insurance carrier handles all aspects of the process. c. Potential for Overpayment: In some cases, employers may end up paying higher premiums than the actual claims costs, resulting in potential overpayment.

1. Large Deductible Workers Compensation Insurance: Large deductible workers compensation insurance provides employers with more control and flexibility over claims management and offers potential cost savings. Here are the benefits and financial implications of this insurance option:

Benefits: a. Increased Control: Employers have more say in managing claims, including the ability to choose adjusters, influence settlement negotiations, and implement loss control strategies to prevent future incidents. b. Cash Flow Advantage: Large deductible policies typically have lower upfront premiums than guarantee cost policies. This enables businesses to allocate resources to other areas of operation and potentially earn interest on the retained funds. c. Potential for Savings: If claims are managed effectively and kept below the deductible limit, employers can realize significant cost savings compared to guarantee cost policies.

Financial Considerations: a. Higher Deductible Obligations: Employers are responsible for paying a predetermined deductible amount before the insurance carrier assumes any liability for claims. This means potential higher financial exposure in the event of an accident. b. Cash Flow Risks: While large deductible policies offer cash flow advantages, they require businesses to have sufficient reserves to cover potential claims within the deductible limit. c. Administrative Responsibilities: Employers assume greater administrative responsibilities, such as claim management, reporting, and legal proceedings, which may require additional resources and expertise.

When considering workers compensation insurance, businesses must weigh the benefits and financial implications of guarantee cost and large deductible policies. Guarantee cost insurance offers predictability but may result in higher premiums, while large deductible policies provide control and potential cost savings at the expense of higher deductible obligations and increased administrative responsibilities. It is essential for businesses to evaluate their risk tolerance, financial capabilities, and claims management preferences to determine the most suitable option for their specific needs. Consulting with an experienced insurance professional can provide valuable guidance in making an informed decision.

Remember, the choice between guarantee cost and large deductible workers compensation insurance ultimately depends on the unique circumstances and goals of your business.

Safe Lifting Techniques: A Step-by-Step Guide for Handling Heavy Objects on the Job

Lifting techniques

A Step-by-Step Guide for Handling Heavy Objects on the Job

Lifting heavy objects on the job is a common occurrence in many workplaces. However, improper lifting techniques can result in serious injuries, including strains, sprains, and even spinal cord injuries. Therefore, it is crucial to use proper lifting procedures when handling heavy objects. In this blog post, we will discuss the proper procedures for lifting heavy objects and provide a step-by-step process for lifting objects on the job.

Proper Procedures for Lifting Heavy Objects

1.         Assess the Weight and Size of the Object: Before attempting to lift an object, it is important to assess its weight and size. If the object is too heavy or too large, it is best to seek assistance from a coworker or use mechanical aids such as a forklift, crane or dolly.

2.         Plan the Lift: Plan the lift by determining the safest and most efficient way to move the object. Identify the best path to transport the object and ensure that the destination is free from obstacles.

3.         Clear the Path: Ensure that the path is clear of debris and tripping hazards before beginning the lift.

4.         Warm Up: Stretch and warm up before lifting to reduce the risk of injury.

5.         Get a Good Grip: Ensure that you have a good grip on the object before lifting. Use gloves if necessary to improve your grip.

6.         Bend Your Knees: Bend your knees and squat down to the level of the object.

7.         Keep Your Back Straight: Keep your back straight and avoid bending at the waist. Tighten your core muscles to maintain proper alignment.

8.         Lift with Your Legs: Use your leg muscles to lift the object, not your back muscles.

9.         Hold the Object Close to Your Body: Hold the object close to your body to reduce the strain on your back.

10.      Walk Slowly and Carefully: Walk slowly and carefully, ensuring that you have a clear path to your destination.

Step-by-Step Process for Lifting Objects on the Job

Step 1: Assess the weight and size of the object.

Step 2: Plan the lift by determining the safest and most efficient way to move the object.

Step 3: Clear the path of debris and tripping hazards.

Step 4: Warm up by stretching and loosening up your muscles.

Step 5: Get a good grip on the object, using gloves if necessary.

Step 6: Squat down to the level of the object, bending your knees and keeping your back straight.

Step 7: Tighten your core muscles to maintain proper alignment.

Step 8: Use your leg muscles to lift the object, not your back muscles.

Step 9: Hold the object close to your body to reduce the strain on your back.

Step 10: Walk slowly and carefully, ensuring that you have a clear path to your destination.

Conclusion

Lifting heavy objects can be dangerous if proper procedures are not followed. By assessing the weight and size of the object, planning the lift, clearing the path, warming up, getting a good grip, bending your knees, keeping your back straight, lifting with your legs, holding the object close to your body, and walking slowly and carefully, you can reduce the risk of injury and safely handle heavy objects on the job. Remember, if an object is too heavy or too large, always seek assistance or use mechanical aids to move the object safely.

The Importance of Timely Submission of Workers' Compensation Claims for Staffing Companies

Claim Submission

The Importance of Timely Submission of Workers' Compensation Claims for Staffing Companies

Staffing companies often rely on workers' compensation insurance to protect both their employees and their business in case of workplace accidents. Workers' compensation claims can help cover the medical costs and lost wages that an injured employee may incur. However, it's essential for staffing companies to submit workers' compensation claims to their insurance company promptly. In this blog, we'll discuss why staffing companies should submit workers' compensation claims within 24-48 hours of the accident and the benefits of doing so from an insurance adjuster's perspective.

Why should staffing companies submit workers' compensation claims within 24-48 hours?

Timely reporting ensures compliance with state laws: Each state has its own laws regarding workers' compensation, including deadlines for reporting workplace accidents. Failing to report a workplace accident within the specified time frame could result in penalties or the denial of the claim. By submitting claims promptly, staffing companies can ensure they are following state laws and regulations.

Helps injured employees get timely care: A timely workers' compensation claim submission can help injured employees get the medical care they need as soon as possible. Many workers' compensation insurance policies require that employees seek medical treatment from a designated medical provider. By submitting the claim quickly, the employee can get in touch with the designated medical provider, and the medical costs can be covered under the policy.

Supports the investigation process: Submitting a workers' compensation claim within 24-48 hours of the accident helps the insurance adjuster investigate the incident promptly. The adjuster can gather evidence, interview witnesses, and assess the severity of the injury more accurately when the claim is submitted promptly. This helps the adjuster determine the validity of the claim and helps expedite the claims process.

Benefits of timely submission of workers' compensation claims from an insurance adjuster's perspective:

Accurate documentation: Timely submission of a workers' compensation claim helps the adjuster obtain accurate documentation of the accident. This includes statements from the injured employee, witnesses, and the employer. With accurate documentation, the adjuster can better assess the extent of the employee's injuries and ensure that the claim is handled appropriately.

Cost-effective claims handling: Timely submission of workers' compensation claims can help keep the costs of the claim down. By submitting the claim promptly, the adjuster can investigate the incident quickly and identify any potential fraud or exaggeration of the claim. This can help prevent unnecessary medical treatments and reduce overall claim costs.

Timely claims resolution: Timely submission of a workers' compensation claim can help ensure a speedy claims resolution. The adjuster can work with the employer and the injured employee to determine the best course of action and ensure that the employee receives the necessary medical care and benefits. This can help reduce the time and resources needed to handle the claim and prevent any delays in the employee's recovery process.

In conclusion, staffing companies should make sure to submit workers' compensation claims to their insurance company within 24-48 hours of the accident. By doing so, they ensure compliance with state laws, help injured employees get timely care, and support the investigation process. From an insurance adjuster's perspective, timely submission of workers' compensation claims can lead to accurate documentation, cost-effective claims handling, and timely claims resolution. Overall, submitting workers' compensation claims promptly benefits both the staffing company and the injured employee, making it a crucial step in the claims process.

Protect Your Workers, Protect Your Business: The Urgent Need for Risk Management in Staffing Companies

RISK MANAGEMENT

It's time to prioritize risk management and make your workplace safer.

As a staffing company, your workers are your biggest asset. They are the ones who help you deliver top-quality services to your clients and grow your business. However, their work also puts them at risk of injury or illness, which can lead to costly workers' compensation claims. This is where risk management comes in - it's a vital tool that can help you protect your workers and your business.

What is risk management for workers' compensation insurance?

Risk management is the process of identifying potential risks and taking steps to minimize or eliminate them. In the context of workers' compensation insurance, risk management involves identifying potential hazards in the workplace and implementing strategies to reduce the risk of injury or illness to your workers.

Why is risk management important for staffing companies?

Staffing companies often work with a variety of clients in different industries, which means their workers are exposed to a wide range of hazards. This makes risk management essential for staffing companies to protect their workers and reduce the risk of costly workers' compensation claims.

In addition, workers' compensation insurance premiums are based on a company's claims history. This means that the more claims a company has, the higher their premiums will be. By implementing effective risk management strategies, staffing companies can reduce the number of claims and lower their insurance premiums.

Examples of risk management strategies for staffing companies

1. Provide safety training: Training your workers on how to stay safe on the job is an essential part of risk management. Make sure your workers are trained on the proper use of equipment and tools, as well as any safety protocols specific to the industry they are working in.

2. Conduct regular safety inspections: Regular inspections of the workplace can help identify potential hazards before they become a problem. This can include inspecting equipment, machinery, and work areas to ensure they meet safety standards.

3. Develop a return-to-work program: If a worker does suffer an injury, a return-to-work program can help them get back on the job as soon as possible. This can include providing modified duty assignments or job accommodations to help the worker ease back into their regular job duties.

4. Implement a drug-free workplace program: Substance abuse can lead to workplace accidents and injuries. By implementing a drug-free workplace program, staffing companies can reduce the risk of these types of incidents.

Effective risk management can have a number of benefits for staffing companies, including:

1. Reduced workers' compensation costs: By reducing the number of claims, staffing companies can lower their insurance premiums and save money.

2. Improved workplace safety: Risk management strategies can help create a safer work environment, which can lead to happier and more productive workers.

3. Compliance with regulations: Staffing companies have a responsibility to comply with federal and state regulations related to workplace safety. Effective risk management strategies can help ensure compliance with these regulations.

4. Enhanced reputation: Staffing companies that prioritize worker safety and risk management are more likely to be viewed as responsible and trustworthy by clients and employees.

In conclusion, risk management is a necessary tool for staffing companies to protect their workers and their business. By implementing effective risk management strategies, staffing companies can reduce the risk of workplace injuries and illnesses, lower their workers' compensation insurance costs, and enhance their reputation. It's time to prioritize risk management and make your workplace a safer and more productive environment.

NCCI Mod worksheet for Staffing Companies

NCCI MOD

How does the NCCI Mod impact Staffing Companies?

As a staffing company, your employees are your most valuable asset. Ensuring their safety and well-being is crucial not just from a human standpoint, but also from a financial perspective. Workers' compensation costs can be a significant expense for staffing companies, and understanding the NCCI Mod worksheet is critical to managing those costs.

What is the NCCI Mod Worksheet?

The National Council on Compensation Insurance (NCCI) is a non-profit organization that collects data, analyzes industry trends, and provides workers' compensation insurance rating and filing services in over 38 states. The NCCI Mod worksheet is a calculation used by insurance companies to determine the experience modification factor (also known as "mod" or "EMR") for a particular company.

The mod is a measure of how a company's actual losses compare to expected losses for its industry. A mod of 1.0 is considered average, while a mod above 1.0 indicates higher than average losses and a mod below 1.0 indicates lower than average losses.

How Does the NCCI Mod Worksheet Affect Your Workers' Compensation Costs?

The mod directly impacts a company's workers' compensation costs. Insurance companies use the mod to adjust a company's workers' compensation premium, with a higher mod resulting in a higher premium and a lower mod resulting in a lower premium. Essentially, the mod reflects the insurance company's expectation of future losses based on past performance. If a company has had a history of high losses, the mod will be higher, and the premium will be more expensive.

For staffing companies, the mod can be particularly challenging to manage since they often have a high turnover rate and a fluctuating workforce. The NCCI Mod worksheet takes into account a company's payroll and loss history, so changes in the number of employees or the severity of claims can impact the mod and, subsequently, the premium.

How is the NCCI Mod Worksheet Calculated?

The NCCI Mod worksheet takes into account three years of a company's payroll and loss history, with more recent years having a greater impact on the mod calculation. The calculation involves comparing the actual losses a company has incurred with the expected losses for the industry and adjusting for the size of the company.

The formula for calculating the mod is as follows:

(Actual losses / Expected losses) x Adjustment factor = Mod

The adjustment factor takes into account the size of the company and is intended to prevent small companies with only one or two claims from having an unfairly high mod. The adjustment factor is typically around 0.7 for small companies and can be as high as 1.5 for larger companies.

In Conclusion

The NCCI Mod worksheet is an essential tool for managing workers' compensation costs for staffing companies. Understanding how the mod is calculated and how it impacts your premium can help you identify areas where you can improve safety and reduce losses.

Promoting Forklift Safety for Staffing Companies

Forklift Safety:

Tips for Staffing Companies Providing Temporary Employees to Warehouses

Forklifts are an integral part of warehouse operations, but they also pose significant risks to workers if not used properly. In fact, according to OSHA, forklift accidents are responsible for an average of 85 fatal injuries per year. For staffing companies that provide temporary employees to warehouses, it is crucial to prioritize forklift safety in order to protect their employees and avoid costly accidents. Here are some tips for staffing companies to promote forklift safety among their temporary employees.

Education and Training

The first step in promoting forklift safety is education and training. Staffing companies should ensure that their temporary employees receive proper training on the safe operation of forklifts before they are allowed to use them. This training should cover topics such as proper use of controls, safe loading and unloading, and safe handling of materials.

Proper Use of Forklifts

In addition to training, it is important to emphasize the importance of following proper procedures for using forklifts. This includes wearing proper personal protective equipment, following designated traffic patterns, and avoiding distractions while operating the forklift.

Certification

Staffing companies can also encourage their temporary employees to become certified forklift operators. Certification is a formal process that demonstrates a worker's knowledge and skills in forklift operation. By having certified operators on staff, staffing companies can provide their clients with additional assurance that their employees are qualified to operate forklifts safely.

The benefits of forklift safety in a warehouse cannot be overstated. By promoting safety and proper use of forklifts, staffing companies can protect their employees from injury and avoid costly accidents. Additionally, emphasizing forklift safety can help to improve the overall safety culture in a warehouse, leading to increased productivity and reduced risk of accidents.

In conclusion, forklift safety should be a top priority for staffing companies that provide temporary employees to warehouses. By providing education and training, encouraging proper use of forklifts, and promoting certification for forklift operators, staffing companies can protect their employees and avoid accidents. Investing in forklift safety not only benefits staffing companies, but also their clients and the overall safety culture of the warehouse.

Prioritizing Workplace Safety: Preventing Falls from Heights in Staffing Companies

FALL prEVENTION

Prioritizing Workplace Safety: Preventing Falls from Heights in Staffing Companies.

Falls from heights are a leading cause of workplace injuries and fatalities. In fact, according to the Occupational Safety and Health Administration (OSHA), falls are responsible for over 100,000 injuries and deaths each year in the United States. Staffing companies have a responsibility to prioritize fall prevention and safety for their employees, especially for those working in industries such as construction and warehousing. Here are some steps that staffing companies can take to prevent falls from heights in the workplace.

Education and Training

The first step in fall prevention is education and training. Staffing companies should ensure that their employees receive proper training on the hazards of working at heights and the proper use of fall protection equipment. This training should cover topics such as ladder safety, scaffold safety, and the use of personal fall arrest systems.

Proper Use of Fall Protection Equipment

In addition to training, it is important to emphasize the importance of using proper fall protection equipment. Staffing companies should ensure that their employees have access to and use proper equipment such as guardrails, safety nets, and personal fall arrest systems. This equipment should be properly inspected and maintained on a regular basis.

Risk Assessment

Staffing companies should conduct a risk assessment of the worksite to identify any potential fall hazards. This assessment should take into consideration factors such as the height of the work area, the type of work being performed, and the condition of any equipment being used.

The benefits of fall prevention and safety training cannot be overstated. By promoting safety and proper use of fall protection equipment, staffing companies can protect their employees from injury and avoid costly accidents. Additionally, emphasizing fall prevention and safety can help to improve the overall safety culture in the workplace, leading to increased productivity and reduced risk of accidents.

In conclusion, fall prevention and safety should be a top priority for staffing companies. By providing education and training, emphasizing the proper use of fall protection equipment, and conducting risk assessments, staffing companies can protect their employees and avoid accidents. Investing in fall prevention and safety not only benefits staffing companies, but also their clients and the overall safety culture of the workplace.

STAFFING WORKERS COMPENSATION INSURANCE

Workers compensation insurance is a vital part of protecting your staffing business. This type of insurance covers medical expenses and lost wages for employees who are injured on the job. It also provides death benefits to the families of workers who are killed while working.

Workers compensation insurance is required in most states, and it is important to make sure that your staffing business is properly insured. There are various workers compensation options available for Staffing Companies from Akker, LLC.

• Guarantee Cost Workers Compensation - $0 Deductible

• Small & Large Deductible Workers’ Compensation

• Staffing Workers’ Compensation Captive

• $0 Down Pay-As-You-Go workers’ compensation

In the United States, there are a number of states that have monopolistic workers' compensation systems. These systems are set up so that only one insurer can provide coverage for workers' compensation set up by the state. The problem with these monopolistic systems is that they often lead to higher costs for businesses when it comes to workers’ compensation. The four monopolistic states are Ohio, Wyoming, Washington, and North Dakota.

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Here are a few tips to consider when it comes to risk management and safety for your workers’ compensation insurance.

• Make sure all new employees are aware of your company's safety policy and procedures.

• Conduct regular safety training for all employees.

• Encourage employees to report any unsafe conditions or hazards.

• Invest in safety equipment and supplies.

• Regularly inspect your workplace for potential hazards.

• Report workers’ compensation claims within 24 hours of the accident.

By following these tips, you can help create a safe work environment for your employees and lower your workers compensation insurance rates.

Contact our team at Akker, LLC for your staffing workers compensation.

Email - info@akkerins.com

Hiring Remote Employees? Are they covered by Workers Compensation?

In today’s innovative technology work force, more and more employers are hiring their employees for remote positions. Those remote employees who live and work in geographic location outside of the employers business location.

Although hiring remote workers has its advantages for example a wider pool of employee talent and savings on overhead cost of office space.

Some employers come to a surprise when they forget to add their remote employees state to their workers compensation insurance.

An employer should notify its workers’ compensation carrier about the remote work arrangement and the employee’s remote location. In most cases, remote employees will be considered localized in the state where they work remotely. Workers’ compensation coverage obligations and systems vary by state.

For example, Texas has an elective workers’ compensation system which allows employers to opt out of workers’ compensation insurance and allows injured employees to seek general tort damages against their employer. If a remote employee is injured in a work-related accident while working from home, it is still the employer’s responsibility and most states will require proper coverage.

Staffing Risk Tips - Pre-Employment - Staffing Safety Tip

Pre-Employment Physicals

- Pre-Employment physicals are a risk management tool used to screen individuals for risk factors that may limit their ability to perform a job safely and effectively.

- Function testing before starting work can prove essential function capability, limiting the risk of injuries associated with certain jobs.

Pre-Employment Training

- Try to stop the accident from happening in the beginning! You can do this by implementing training videos to make sure that your employees know what kind of work hazards they will be around and how to deal with them properly.

- Make sure that you hold regular training sessions to keep employees up to date on new rules and regulations and remind them of the correct safety procedures.

Healthcare Staffing - Insurance Considerations

Generally, healthcare staffing agencies employ doctors, nurses, nursing assistants, medical technicians, and others as contractors on offsite patient facilities. This presents unique liability conditions that require appropriate insurance coverage. Unlike a medical facility that hires workers directly, agencies face the combined challenge of employing medical professionals and dealing with c-employment laws. Typically healthcare staffing agencies have insurance needs that include:

General Liability

Whether a healthcare agency staff worker at a doctor’s office, hospital or for at-home patient care, general liability insurance is a must. This type of insurance plan protects the agency from onsite property damage or physical injuries sustained at the medical facility and agency office. An agency and its assets are also protected if a client files claim against workers or the agency. With general liability, the agency is covered to defend against such claims whether they are fraudulent or not.

Medical Professional Liability

Medical professionals working for a healthcare staffing agency could face claims of negligence or malpractice. Claims against professional competence are not uncommon and do not exclude healthcare staffing agencies. In a litigious society, the agency must protect itself with a medical professional liability insurance policy. Basically, medical professional liability insurance offers protection for a staffing agency that faces liability claims from a worker’s failure to use due care. Somewhere during treatment, the standard of care that a patient expected was not fulfilled. Any bodily injury that resulted in an act of negligence, along with mental anguish, can be covered under this policy. In most cases, a higher percentage of the premium costs go towards defending a negligence or malpractice claim.

Workers’ Compensation

A workplace injury can occur at any time that an agency places a medical worker on a job. Working around chemicals and medical devices increases the potential for serious accidents. Workers’ compensation insurance can protect workers with guaranteed financial benefits for qualified injuries sustained on-the-job. All states require employers, which include healthcare staffing agencies, to carry workers' compensation insurance.

Also known as workman’s comp, this type of insurance is a compromise between workers and staffing agencies. For workers, they relinquish the right to sue the agency if they suffer an illness or injury while at a client’s worksite. In return, the staffing agency agrees to provide state-mandated benefits as a result of the illness or injury. These benefits may include medical care and a percentage of the workers’ pay.

Fidelity Bonds

If at any time a worker is accused of stealing from one of these workplaces, the staffing agency can be held equally responsible for the worker’s actions. Fidelity bonds, which can be individual, scheduled or blanket, will protect the agency against the costs of theft and subsequent legal actions. Issued as a guarantee for clients against losses that result from worker dishonesty, fidelity bonds are an essential part of the staffing agency’s insurance program.

To receive a Staffing Insurance quote for your Medical Staffing Company contact us today.

Website - www.akkerins.com

Email - info@akkerins.com

NEW COVID-19 EMPLOYER REGULATIONS in CALIFORNIA

With COVID-19 effecting every state nation wide it is important to know new regulations in every state.

State of California has some major Regulations Changes coming in 2021. This could effect the Staffing Companies in the state of California been employer on record. See the changes California will face in January 2021.

Staffing Insurance - Employment Practices Liability Insurance

Does my Staffing Firm really need EPLI Insurance? We have a great HR Department we will never face an EPLI Claim. The common statements made by staffing firm owners.

For the past couple years Staffing Agencies nationwide have been facing an increase in Employment Practices related claims. A majority of staffing companies have 2-3 claims regarding employment related practices a year.

EMPLOYMENT PRACTICES LIABILITY INSURANCE - What does it cover?

Employment Practices Liability - a type of liability policy that covers wrongful acts arising from the employment process. The most frequent types of claims that are covered under (EPLI):

• Discrimination

• Harassment

• Retaliation

• Violation of the Family and Medical Leave Act

• Wrongful discipline

• Wrongful failure to promote

• Wrongful termination

Does Staffing Employment Practices Liability cover Wage and Hour Claims?

Wage and Hour Claims are completely different then EPLI Claims. Wage and Hour are claims by an employee that his or her employer has failed to pay overtime wages owed to the employee. Most EPLI policies specifically exclude coverage for wage and hour claims.

With 9+ Years of Helping Staffing Companies Nationwide - Akker, LLC has built trust with competitive A+ rated National Staffing Carriers. Let the Akker team quote your Employment Practices Liability policy and Staffing Insurance.

Contact us today - stan@akkerins.com or call (912) 247-3075

Alternate Employer Endorsement

Does your new client contract require a Blanket Alternate Employer Endorsement? See our new Akker Education Deck for information.

COVID-19 Specific to Staffing Industry

During these uncertain times we all have questions in concerns.

The Staffing Industry has a lot of challenging questions during the COVID-19 times. Seyfarth Shaw LLP has created this amazing Q&A Specific to the Staffing Industry. This is a great read for all our clients and prospects in the Staffing Industry.