$2M Companies Spend $1.58 on Workers’ Comp per $100 Payroll
A study released by Marsh Inc., shows that workers’ compensation costs $1.58 per $100 of payroll at companies worth more than $200 million.
The latest edition of the Marsh report provides cost benchmarks for workers’ compensation. The benchmarks correspond to both payroll and cost of risk over two years. The cost of workers’ compensation coverage per $100 of payroll, by revenue in millions costs companies worth more than $200 million only $1.58. Companies worth more than $1 billion dollars spend only $0.84 on workers’ compensation coverage, according to the study.
In the most recent Marsh report, more than one-third of workers in the United States purchased guaranteed-cost programs. Guaranteed-cost programs are usually skewed toward small businesses, which may not have the resources to effectively manage loss-sensitive programs.
If you or someone you love has been injured at your job, you may be entitled to compensation from your employer to help cover the costs of your losses. To learn more, contact the Raleigh workers’ compensation lawyers of Scudder & Hedrick, PLLC at 919-851-3311.