My employer told me last month that our company can no longer sustain the increased costs of workers' compensation insurance for remote body in specific states across the country where on earth we have remote organization working from home because the costs have increased significantly. I want to know if here is any truth to this? Also, does anyone have an thought of how much more the costs could be for states like CA, NJ, or NY compared to other states? Because it might be too expensive for my company, several of us were told we might lose our job because it's illegal to engage someone without have workers' comp insurance for them.
Answers: There hasn't been a huge rate increase basically in the later year. However, it could be that your employer recently expanded into fresh states, and the recent AUDIT of last year's exposures is difficult than estimated. He'd have to money last year's, AND this year's premium, right very soon.
It's highly credible that HIS costs have increased. That doesn't niggardly that the RATE increased.
Any rates will be on a class code basis - so short any idea of which classes you articulate about, it's impossible to guess a rate. HOWEVER, NY and CA also own state mandated DISABILITY coverage which must be purchased for adjectives employees, so it's a discomfort to have workforce in those states, if you're not domiciled near.
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Answers: There hasn't been a huge rate increase basically in the later year. However, it could be that your employer recently expanded into fresh states, and the recent AUDIT of last year's exposures is difficult than estimated. He'd have to money last year's, AND this year's premium, right very soon.
It's highly credible that HIS costs have increased. That doesn't niggardly that the RATE increased.
Any rates will be on a class code basis - so short any idea of which classes you articulate about, it's impossible to guess a rate. HOWEVER, NY and CA also own state mandated DISABILITY coverage which must be purchased for adjectives employees, so it's a discomfort to have workforce in those states, if you're not domiciled near.
Resolved Questions: