What is a workers compensation surcharge?
A. An insurance company may surcharge premium if it believes that additional money is needed to meet expected losses and expenses for a particular employer. Consumers should ask the insurer to provide formal documentation that reflects all the rating components used to develop their premium. Surcharges are usually applied only to highrisk activities with a higher-than-average loss potential.
A. An insurance company may surcharge premium if it believes that additional money is needed to meet expected losses and expenses for a particular employer. Consumers should ask the insurer to provide formal documentation that reflects all the rating components used to develop their premium. Surcharges are usually applied only to high risk activities with a higher-than-average loss potential.
