Workers Compensation for Contractors

Overview

The realm of workers compensation is constantly evolving. The interaction of workers compensation insurance with state workers compensation and federal workers compensation laws is unique in the insurance industry, and changes in these acts have profound effects. Since this is the most costly property and casualty insurance coverage for most contractors, the insurance products and methods of handling this risk have evolved and grown accordingly. This course provides detailed information on workers compensation and employers liability insurance and the market for coverage.

Find this course for your license

License or Certification

Regulator

Learning Objectives

Understand how the workers compensation system evolved and how its laws and regulations apply to the construction industry.
Describe the scope of coverage provided under the workers compensation policy and utilize this information to make recommendations for coverages needed by contractors.
Analyze the various endorsements available for attachment and recommend specific coverage enhancements valuable to a contractor.
Explain the technicalities of workers compensation premium calculation and educate contractors about how workers compensation risks are rated, and analyze factors that can influence the final and long-term price that contractors pay for guaranteed cost programs.
Explain how an experience modifier is calculated and consequently be able to explain the impact of experience rating on a contractor’s premium

Designed For:

Property and casualty insurance agents, risk, safety, and finance professionals

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Course Information

Adding additional credit may change exam requirements.

Advanced Preparation:

None

At WebCE, we are passionate about delivering exceptional professional development solutions. With world-class customer support and education to serve multiple professions, we're here to help professionals reach their career goals.