Workers Comp Insurance for your security businessWorkers comp insurance (or workers' compensation) is mandatory for many businesses. When an employee gets ill or injured on the job, workers comp can protect you from medical costs and a portion of lost wages.
Worker’s Compensation insurance is essential for the security industry. Brownyard Programs BestGuard Plan rewards the best-run companies with the best rates.
Protect Your Assets
If you have employees in the security industry, you need workers comp insurance. It's required by law in most states to ensure employers pay part of the cost of work-related injuries.
IS YOUR STATE ELIGIBLE?
We provide workers comp insurance (workers compensation insurance) in all 50 states. So whether you're in Oklahoma or Oregon, Nebraska or New York, Alaska or Arizona, your state is eligible.
Risks and Solutions
We've seen many claims in the security industry that couldn't be foreseen. Workers comp insurance can protect you from lawsuits by employees for working conditions that may cause injury or illness.
Common Questions and Answers
Q: Who is eligible for a workers’ compensation experience modification rating?
A: To be eligible for a experience modification rating depends on the state ratings board. For example, in some states, an employer must have an average annual workers’ compensation premium of $5,000 during the three-year rating period that includes the three years prior to, and not including, the current policy year. For example, for a policy expiring on Jan. 1, 2014, the rating period would be Jan. 1, 2010, to Dec. 31, 2012. You may also qualify for an experience modification rating if you had at least $10,000 in premium for either the last year or the last two years of the rating period. To qualify for an experience modification rating from the National Council on Compensation Insurance (NCCI).
Q: What is the NCCI?
A: The National Council on Compensation Insurance (NCCI) is a national ratings bureau. An employer must meet the eligibility requirements established and approved by the state(s) that participate in the NCCI Experience Rating Plan. The NCCI gathers data, analyzes industry trends and prepares objective insurance rate and lost cost recommendations for insurers. NCCI experience modification ratings may either be intrastate (i.e., having exposure in only one state that participates in the Plan). Or they may be interstate (i.e., exposure in multiple states that participate in the Plan).