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What is Workers' Compensation?
Workers’ Compensation, also known as Workman’s Comp, is business insurance that provides for the medical care for workers who suffer work related injuries or illnesses and also provides for lost wages due that arise when the employee is injured and cannot work.
Download the Product Sheet here.
Our Appetites: We prefer low and moderate hazard risks.
Competitive Commissions: We pay competitive commissions on premium collected.
CLICK HERE to see the list of Workers Comp Eligible Classes of Businesses
Workers compensation coverage helps protect your business in many ways including protection against:
- Employee Illness
- Workspace Injuries
- Lawsuits
- Replace Lost Wages
Who does workers’ compensation protect?
Workers’ compensation protects both the employer and employee. Employers are protected when they need to pay for and employee’s work-related injuries or illnesses. It protects employees by providing indemnity for lost wages arising from work-related loss or injury.
At SynchronoSure, we have a broad appetite for small account workers’ compensation risks:
- 1000 Payroll Classifications
- Maximum Manual Premium of $35,000
- Maximum Experience Mod of 1.35
- Various Installment Plans
- Minimum Policy Premium $1,000
- Employers Liability with Limits up to $1m/$1m/$1m
Eligible Businesses
We have broad appetites for small account workers compensation risks:
- More than 1000 available payroll classifications (certain limitations apply for class codes in hazard grades E and F, no coverage for hazard grade G class codes)
- Maximum unmodified manual premium of $35,000
- Maximum experience modifier of 1.35
- Willing to underwrite risks currently insured in Assigned Risk Plans
- Minimum policy writing premium of $1,000
Workers Comp Coverage
Maximum Limits
- Employers Liability with limits up to $1 million / $ 1million / $1 million
Installment Options
- Annual
- 2 Pay (to bind coverage, 20% down + first installment required)
- 4 Pay (to bind coverage, 20% down + first installment required)
- 10 Pay (to bind coverage, 20% down + first installment required)
Workers Compensation is available in North Carolina with an additional 26 states by end of Q2 2021.
Contact us today if you want to be notified when Workers Comp will be available in your state:
Preferred method of payment is ACH, credit card payments accepted in certain states and may result in additional fees.
Policy forms, invoices and policyholder notices are sent electronically.