Small companies are buying workers' compensation insurance coverage without understanding how the coverage works, what they get for their premiums, or why they continue coverage with a particular carrier, according to a national survey.
The findings were made in a poll conducted by Reno, Nev.-based Employers Insurance Company, which found that 14 percent of small business owners and executives could not name their insurer.
In the survey, 13 percent admitted they do not understand how workers' comp insurance protects employees with work-related injuries, or how their coverage can protect their small business' bottom line against catastrophic claims.
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