Workman’s compensation insurance. You’ve heard me mention it before. I’m sure you’ve heard lots of people mention it before. I’m going to explain briefly what work comp insurance is, give you a brief overview of it and we’re all going to do additional videos on how you generate the premium for work comp, or how the premium is calculated.

But, to start off, with work comp insurance covers your employees in case they’re injured on the job. So, while they’re working on behalf of you, the employer, if your employees are injured while at your office, at a job location, or perhaps they’re traveling. The point is, if they’re injured while they’re working for you, the employer, they’re covered.

Work Comp is specifically rated and there’s two factors that go into rating it. The first one is what kind of work are your people doing? Someone that’s working inside of an office has a very, very low hazardous job. Someone that is a steel worker, trimming trees, putting on roofs, those are all very high hazardous jobs and the chance for those people to get injured are much more than, let’s say, the office worker.