Worker's Compensation Insurance For Your Business

Worker's Compensation

Profile USA, Inc. and Profile Services, Inc. (PROFILE) has a proud history of service and has accomplished what others only dream about.

An integral part of our service is worker's compensation insurance. We deal primarily with three (3) carriers that are "A" rated and others, as required.

Anyone can acquire worker's compensation for clerical personnel, medical personnel, and much more; but can they acquire coverage for roofers, tree trimmers, heavy construction, demolition, farming, temporary services and the high risk trades?.. We are creative in the pursuit of serving our customers.

Insurance companies will not provide coverage for companies with high claims, we routinely do.

PROFILE is unique and specialized in worker's compensation and payroll applications for contract labor and payroll.

PROFILE has many plans and options available to acquire worker's compensation insurance coverage. There are a great many services available offering payroll services, worker's compensation coverage, tax reporting and staff management. We have a strong working relationship with many insurance agents, risk management companies and leasing companies so we can be sure to find you the best fit.

Contract personnel services and employee leasing programs are available in most states.

Stop looking for coverage in all the wrong places. We can have most clients set up for service in just one day!

Profile USA, Inc. and Profile Services, Inc. Can Address Your Worker's Compensation Needs

PROFILE has a long and proud history of service in the Personnel Services Industry and through decades of hard work and professionalism, we have accomplished what others in the industry have only dreamed about.

PROFILE began as a small company, founded in 1974, and over time has become a leader in the personnel services industry, providing a complete package of business and worker's compensation services nationwide. Our vision was to be able to provide all of the essential staffing, payroll, worker's compensation and risk-management services to any business, no matter what type of trade they were involved in, anywhere in the US. Now, after over 30 years in the business we have established a network of partnerships with leading providers all over the country and we have seen our dream come true.

At PROFILE, we provide a wide array of services to all types of businesses, including: staffing for contract and leased employees, worker's compensation services, complete payroll service and risk management services. But the integral and most vital part of our business, one of most important services we provide, is being able to help secure worker's compensation insurance for any type of operation.

To be able to do this, you may think we would have to go with the least expensive, or lowest rated carrier, or the one that offers the most basic levels of coverage. Nothing could be further from the truth. In fact, our three primary insurance carriers, which are able to approve coverage for a majority of our clients, all carry an "A" rating and we have others that we can use when all else fails.

The Difficulty In Finding Worker's Compensation Coverage For New Businesses

By law, any business in any state that has over a certain number of employees on their payroll must provide worker's compensation coverage for those employees. The number of employees that triggers the coverage requirement varies by industry and state. The only real exception is if businesses are classified as “self insured”, which means they will insure themselves against their own risk, and some other rare exceptions. As self-insurance is closely regulated on a state-by-state basis and usually requires large amounts of reserves and the other rare exceptions are really too few to mention, let's assume your business needs worker's compensation coverage.

Many new businesses that are in occupations that are other than clerical or office related, can find it difficult to obtain worker's compensation coverage for their employees. New businesses in the high-risk trades can find it almost impossible. The obvious reason for this is because of the inherent risk of injury in a high–risk trade. Another reason that new businesses find it difficult to get coverage is simply the fact that they are just that, a new business with no prior loss history.

Worker's compensation premiums are affected to a large degree by using the loss and claim history of the business. New businesses in high-risk trades have no claims for worker's compensation insurance (loss runs) to produce to an insurer and many simply will not provide coverage to high-risk trades without these loss runs. This is where PROFILE can help you when you need to secure worker's compensation insurance coverage.

How Your Worker's Compensation Premium Is Determined

Your worker's compensation premium is calculated by multiplying the amount of your payroll/gross wages per $100 (PAYROLL), by your business classification rate (RATE), by your business experience modifier (MOD). So, the calculation looks like this:

(PAYROLL) X (RATE) X (MOD) = Annual Premium

The PAYROLL is self-explanatory, the RATE is the numeric industry rating given to your specific type of trade and the MOD is a number given based on your business' claim and loss history. The higher the MOD, the higher your premium rate goes. So, the final premium will be a multiple value that is applied to every $100 of payroll. For example, a RATE of .09 (9.0%) with a MOD of 1.00 results in a $9.00 annual premium for each $100 of payroll ($18,000 for a company with $200,000 in payroll).

Although many new businesses are given a MOD of 1.00, which is the average, it can go significantly lower and this is where we come in. We have been in business for over thirty years and have helped countless businesses with discovering how to lower their annual worker's compensation premium. There are numerous ways to help lower your business' MOD and we can help you with them all. One huge way to lower your MOD is by implementing strict safety programs throughout your business. Another good way is by enrolling in state-sponsored safety programs that will not only lower your MOD, but with strict compliance, will improve overall safety at your business and worksites. We are here to help show you how to lower your businesses MOD, step by step.

We can take care of all your day-to-day staffing, payroll, worker's compensation hassles and risk-management duties to leave you to do what you do best – grow your business!

Are You In a High-Risk Trade and Need Worker's Compensation Coverage?

A lot of companies can help you acquire worker's compensation for clerical personnel, medical personnel, and many other types of business that have a low risk of encountering any worker's compensation claims. But, can these same companies acquire coverage for roofers, tree trimmers, heavy construction, demolition, farming, temporary services and other high-risk trades?

As we've already pointed out, by the very nature of their business, these high-risk trades and others are typically very hard to acquire worker's compensation coverage for. This is especially true for new businesses in the high-risk trades. For over thirty years we have been helping high-risk businesses, both established and new, find worker's compensation coverage for their employees.

We are very creative in the pursuit of serving and finding solutions for our customers and have over 30 years of experience in the industry, all of which helps us find worker's compensation coverage even for the most difficult cases and high-risk trades. This is why, when regular insurance companies will not provide worker's compensation coverage for companies with high claims, we routinely can help secure it for employees.

Please contact us today to talk to one of our highly trained and motivated specialists and find out more about what PROFILE can do for you and your business.