Workers Compensation

Workers Compensation

Let's talk workers compensation insurance.

Each state has its own set of rules, so it's crucial to understand the specific regulations in your state. With the rise of remote working, especially across multiple states, it's essential to have policies in place for each state.

Monitoring your workers compensation throughout the year is imperative. If your actual wages significantly surpass the estimated amount, your insurer might reject your claim. This oversight can lead to severe consequences.

Recently, I encountered a situation where a claim was denied because the wages estimate hadn't been updated despite substantial payroll growth. As a result, the employer had to cover the medical costs, leading to financial strain and ultimately the closure of the business.

Don't let this happen to you.

Stay informed and proactive about your workers compensation to safeguard your business and employees.



PS. Whenever you’re ready, here are 3 ways we can help you eradicate financial stress in your accounting firm or professional services business – faster …

  1. Sign up to our LinkedIn newsletter, published weekly. You can sign up here: Eradicating Financial Stress
  2. Get our book “Wow – I’m in Business! Your journey from overwhelmed to organised.” It’s full of insights, solutions and downloadable resources you can implement into your business immediately. Click here for your copy: Wow … I’m in Business! – Miss Efficiency
  3. Book a time with me privately and we’ll do a deep dive into your Xero file to help you optimise for cash flow, efficiency and growth. Click here to book: Book a time with Sarah

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