Workers compensation can be a nightmare for New York small business owners if proper steps are not taken to understand and review the NY workers comp policy. A general understanding of how NY workers compensation premiums are calculated can help a small business owner prevent large audit bills or at least mitigate the total expense of audit bills.
Keeping detailed records of how much payroll is applied to each job class within a business is good place to start.
Watch this video “How are workers compensation premiums calculated?” for more details:
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This is video #3 of a one hundred video series that The Murray Group is producing to provide NY insurance consumers with quick, valuable answers to their everyday NY insurance questions.
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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.