Workers Compensation Insurance From a Massachusetts Based Insurance Specialist

Coonan Insurance Agency, Inc. can help you find affordable, quality Workers Compensation Insurance with ease!

We offer Workers Compensation Insurance coverage in Massachusetts, Maine, New Hampshire, Rhode Island, Maine, New York and Florida.

Please ask one of our agents how we can provide you with insurance across multiple states.

What is workers compensation insurance?

Employees in almost any industry could be injured on the job, and that’s a risk that both employers and employees need to prepare for. In addition to having proper safety equipment and following safety protocols, employers in Massachusetts can also get workers compensation insurance.

Workers compensation insurance is an important insurance that can help protect against workplace injuries and illnesses. It may provide compensation for both medical costs and lost wages if there’s a claim.

What businesses need to be carrying workers comp insurance?

Massachusetts state law normally requires employers across industries to carry workers comp insurance. If your business has at least one employee, it likely needs workers compensation.

For the purposes of workers compensation, employees refers to traditional employees (i.e. usually issued a W2). Independent contractors (i.e. usually issued a 1099) usually don’t necessitate workers compensation, although businesses that hire contractors should discuss any workplace injury exposure they have with an agent who specializes in this coverage.

Failing to carry the insurance when it’s required can result in both liability risk and legal consequences.

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Workers Compensation Insurance Massachusetts

Which types of incidents are covered under workers comp insurance?

Workers comp insurance is extensive, and usually covers most workplace injuries and illnesses. It could cover everything from hand-arm vibration syndrome (HAVS) that’s caused by years of using power tools, to a concussion that’s sustained while falling off of a ladder. Illnesses are normally covered too.

For practical purposes, it can be helpful to think of the potential claims that workers compensation might cover in five categories:

  • Sudden Injuries (e.g. ladder fall, machinery accident)

  • Long-Term Injuries (e.g. HAVS, carpel tunnel, repetitive motion syndrome)

  • Sudden Illnesses (e.g. accidental and acute poisoning)

  • Long-Term Illnesses (e.g. black mold exposure, asbestos-caused condition)

  • Death from a covered workplace injury or illness

An insurance agent who specializes in workers compensation will be able to give examples of potentially covered claims that are more specific to a business’s operations.

Workers Compensation Insurance Massachusetts

What does workers comp insurance pay for when there’s a claim?

In the event of a covered injury or illness, workers compensation normally helps cover medical costs and lost wages. Exactly what’s covered depends on the policy and the incident.

How are professions categorized by workers compensation policies?

Workers compensation rates are based partly on a covered employee’s profession. Professions are classified using a fairly standard code that the National Council on Compensation Insurance (NNCI) has established. The system uses four-digit codes that are tied to specific professions.

A few examples of NNCI codes and their corresponding professions include:

  • 803: Financial analysts and auditors
  • 2041: Chocolate and cocoa production workers
  • 0005: Plant nursery workers
  • 8829: Elderly care or rehabilitation center workers
  • 7038: Operators of small-scale tour boats
  • 5190: Exterior holiday decorators
  • 2143: Apple cider press workers

As some of these show, the codes can be quite specific in what workers they denote.

To ensure accurate premium calculations, businesses must ensure their employees are rightly categorized. Experienced insurance agents can guide businesses in this aspect.

Workers Compensation Insurance Massachusetts

Why is a workers compensation audit conducted after the policy expires?

It’s fairly standard practice for workers compensation providers to perform audits once a policy term ends. The purpose is to validate the accuracy of charged premiums.

The employees who were covered and their salaries are compared to what was expected at the start of the policy. Any appropriate adjustments are made, which can result in an additional amount being due or a partial refund.

To minimize any potential outcome of an audit, businesses should use the most accurate possible estimates when first signing up for a policy. They also should update their insurance anytime there’s a substantial change in staffing. Updating a policy is something a knowledgeable agent can assist with.

Coonan Insurance Agency

Where can businesses in Massachusetts, and other states, find workers compensation insurance?

For help finding workers compensation insurance in Massachusetts, and other states, contact the independent agents at Coonan Insurance Agency. Our agents will work closely with you to find a solution that’s good for your business and its employees.

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