Page 20 - Tennessee 811 Magazine 2020 Issue 1

_ heueyer au iueideut oreurs — out in the lield
5%‘ W9”"° "°°"'“ or in the shop, “was auyhody hurt?" is the first
me may Center . . .
ouestrou that erosses your rruud. And well |I
Jackson, MS
should hel

A worlter injured or. the ioh rah he haudirapped for life — aud
whos gouua pay [or his care? If he works lor you and you dout
haye workers' eorup insurance — guess who's gouua pay far all
ol this.

llauyoue works for you — eteu pan tiroe — you're really rolliug
the dire if you don't carry worlrers eorhp.

‘ ' ‘ ' ' “My state says l dnn'I have to." N01 your state says you musl
- have it it you have a eertaiu rturrther or employees. it doesn't say
’ _. auythiug at all ahout how you're uot liahle to pay medical bills
- 1. and rehah aud lost wages it sorheoue who wnrks lor you gets
k hurt on the jnh. Because you are liahle.
- consider a tar wreck (or just a moment. Let's say you seud
° . someone to the haulr to make a deposit or drop oer mail driving
’ oue or your yehieles. truelr hauliug eouipmeut [or examplfit
and there is a wreelt. it doesn't matter whose lault it is. what
matters is that your employee is hurt—wait, was there more
thar. oue eroployee ir. that vehicle? worlters corup pays lor
. _ uuliroited — yes unlimited — medical hills. And rehah. lt eyeu
/ 4' \\ pays lost wages lor a certain uuruher ol weelrs.
1
~ why would auy husiuessrrtah put himself iu that predirarueut
' wher. worlrers corrtp is a cast ol doiug husiuess aud is
s. —- deductible? Just as dedurtihle as the diesel luel used to ruu
\\ \\ V; r X that ereayator. OK, they olteu ouly buy liahility iusurauee
Q‘ . hetause it is required — either hy their Board of Contratlnrs
%' _,_,_, or the job they are doiug. But il soruethiug goes wrong, the
r insurance ageut is the 4th persou to lruow ahout it. right hehiud
ri ‘ _ the guy who did it, the guy he did it to and you, the eoutraetor.
er=_ You can exclude yoursell lroru royerage if you chooser but
. ’ ‘ . h ou earth would ou?? lt's the mnsl luex euslve most
1 \\ W Y . Y . . . P v
, eoropr-eheuswe eoyerage far too related ru,ury or. the plaueti
/ , ' B S Remember that pan ahout "losl wages"? Yml also heed to knnw
I that a lot or health iusuraure eorhpauies are deeliuiug to pay
. worlt—related injury claims.
\\ ’ V . Yes. wnrkers' comp eorupauies audit your payrolls every year-
I A . to he sure they are eollertiug the right amounl ol preroiuru —
- A aud yes if your payrolls are less than expecledt you will get
' .: —— a reluud. More iroportautly, if your payrolls ereeed what was
anliripaledr your worlrers are toyered auyway, aud the premium
; won't be eollerted lor them uutil uert audit or reuewalz
V > ' ' Guy-sf golug shonou lusurauee lsr.'t saying you rr.or_tey at‘
‘ all—tts rostrug you In the loug run. l was ouee told, Your toh
is to sell rue lrtsurartee." No, actually. my job is keeping you out
ol finanrial trouhle in the eyeut ol au aeeideut. whether its a
/ rhistalte you ruight have rhade, a red light your guy derided

to run a ladder that slipped—the opportunities for loss are
eudlessi

In ruost eases. mum or. worlrers corop to talre rare ol it for
you aud therul .

15 . Tznnususll 202a,lssue1