Today’s issue of WorkCompRecap features a recent release from Professional Employer Organization FrankCrum, which noted that business owners often view workers’ comp through only the lens of expenses, rather than as part of a wider risk management program, which can cause them major problems.
FrankCrum’s Sarah Tupper noted several misconceptions that business owners may have about their coverage, including not having specific coverage for all employees, including covering all the jobs they perform, not insuring the owner of the business, and lack of understanding with regard to the basis for their workers’ comp rates. Finally Tupper also noted that employers often don’t realize that they can save money on premiums through a combination of initiatives like safety programs and prudent selection of carriers.
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