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The 7 Things Every Business Owner Needs to Know About Workers’ Comp

By Nate Glass | Certified Insurance Counselor & Risk Manager

(AskNateGlass.com — Real Answers for Real Businesses)

1. Workers’ Comp Isn’t Optional — It’s the Law

Most states require coverage once you reach 3–5 employees. Skip it and you risk:

  • State fines of $10,000 or more

  • Stop-work orders halting your jobs

  • Personal liability for unpaid medical bills

Nate’s Note: Even if you “1099” people, the state can re-classify them as employees after an injury. If they get hurt, you’re on the hook.

The 7 Things Every Business Owner Needs to Know About Workers’ Comp

By Nate Glass | Certified Insurance Counselor & Risk Manager

(AskNateGlass.com — Real Answers for Real Businesses)

1. Workers’ Comp Isn’t Optional

— It’s the Law

Most states require coverage once you reach 3–5 employees. Skip it and you risk:

  • $10 K+ fines and stop-work orders

  • Personal liability for medical costs

  • Criminal penalties in some states

Nate’s Note: Even “1099” workers can be re-classified as employees after an injury. Make sure you’re protected before that happens.

How the Crowley Wealth Strategy Works

(A Smarter, Safer Path to Tax-Free Growth)

✅ Step 1: Book Your Free Strategy Call

ASchedule a short conversation with Tom Crowley to discuss your goals, what you’re currently doing, and where you want your money to take you.

✅ Step 2: Receive Your Custom Wealth Blueprint

Within 48 hours, Tom will send you a personalized plan showing how to grow and protect wealth using proven, tax-advantaged principles — tailored to your lifestyle, business, and long-term goals.

✅ Step 3: Grow and Protect Your Wealth

Start building tax-free wealth while protecting your assets and family legacy — with Tom’s ongoing insight and guidance every step of the way.

Inspired by Timeless Financial Wisdom

Visionaries and innovators — from Walt Disney to the great entrepreneurial families of the world — used similar principles to protect and multiply their wealth. Now you can apply those same fundamentals to your own plan, simplified and modernized for today’s world.

Typical Long-Term Performance

10-Year Historical Average ≈ 13.4%
20-Year Historical Average ≈ 11.3%
(Results vary; these figures reflect independent historical market data used in modeling tax-advantaged strategies.)

How the Crowley Wealth Strategy Works

(A Smarter, Safer Path to Tax-Free Growth)

✅ Step 1: Book Your Free Strategy Call

Schedule a short conversation with Tom Crowley to discuss your goals, what you’re currently doing, and where you want your money to take you.

✅ Step 2: Receive Your Custom Wealth Blueprint

Within 48 hours, Tom will send you a personalized plan showing how to grow and protect wealth using proven, tax-advantaged principles — tailored to your lifestyle, business, and long-term goals.

✅ Step 3: Grow and Protect Your Wealth

Start building tax-free wealth while protecting your assets and family legacy — with Tom’s ongoing insight and guidance every step of the way.

Inspired by Timeless Financial Wisdom

Visionaries and innovators — from Walt Disney to the great entrepreneurial families of the world — used similar principles to protect and multiply their wealth. Now you can apply those same fundamentals to your own plan, simplified and modernized for today’s world.

Typical Long-Term Performance

10-Year Historical Average ≈ 13.4%
20-Year Historical Average ≈ 11.3%
(Results vary; these figures reflect independent historical market data used in modeling tax-advantaged strategies.)

Frequently Asked Questions

Q1: What exactly is this strategy?

It’s a structured, tax-advantaged financial approach that allows your money to grow and be accessed tax-free — often outperforming traditional retirement plans while reducing market exposure.

Q2: Is it safe?

Yes. Your principal is protected from market losses, and you maintain access to your money whenever you need it.

Q3: Who is it for?

  • Families seeking stable, long-term growth

  • Entrepreneurs and professionals planning for retirement

  • Grandparents or legacy-builders wanting to transfer wealth efficiently

Q4: What does it cost to get started?

Your first strategy session with Tom Crowley is completely free — no obligation, no pressure.

Q5: How do I know if it’s right for me?

Schedule your complimentary call and Tom will walk you through your personalized analysis to see if it fits your goals.

2. Mis-Classified Employees Are Silent Profit Killers

The class code assigned to each worker tells the insurer how risky that job is.
If your bookkeeper and your roofer share the same code, you’re donating profit.

Typical overcharge from bad codes: 10–30 % of annual premium.

Nate’s Note: Review your class codes at least once a year—especially after hiring, role changes, or expansion.

2. Mis-Classified Employees = Overcharges

Wrong class codes mean you’re paying for risk you don’t have.


Average overcharge: 10 – 30 % of annual premium.

Nate’s Note: Review your codes every year — especially after new hires or role changes.

3. Your Experience Mod Score (X-Mod) Dictates Your Rate

The X-Mod compares your claims to industry averages.

  • 1.00 = average > 1.00 = penalty < 1.00 = discount

Nate’s Note: Set a goal of 0.90 or lower. Fewer claims = lower costs and better underwriter perception.

3. Your Experience Mod Score Controls Your Rate

The X-Mod compares your claims to industry averages.

  • 1.00 = average > 1.00 = penalty < 1.00 = discount

Nate’s Note: Set a goal below 0.90 and track it quarterly — it directly affects your bottom line.

4. Audits Are Where Premiums Go Sideways

End-of-year audits reconcile payroll vs. estimates — and can trigger massive bills.

Before an Audit:

  • Verify class codes - Separate overtime pay - Collect COIs - Confirm subs are covered

Nate’s Note: Fifteen minutes of prep can save tens of thousands in “surprise” premiums.

4. Audits Are Where Premiums Go Sideways

End-of-year audits reconcile payroll vs. estimates — and can trigger massive bills.

Before an Audit:

  • Verify class codes - Separate overtime pay - Collect COIs - Confirm subs are covered

Nate’s Note: Fifteen minutes of prep can save tens of thousands in “surprise” premiums.

5. Claims Handling Decides Future Rates

Fast, organized claims responses keep your mod low.

Best Practices:

  • Report within 24 hrs | Stay in touch with injured employees | Implement Return-to-Work plans

Nate’s Note: Carriers reward companies that manage claims like professionals.

5. Claims Handling Decides Future Rates

Fast, organized claims responses keep your mod low.

Best Practices:

  • Report within 24 hrs | Stay in touch with injured employees | Implement Return-to-Work plans

Nate's Note: Carriers reward companies that manage claims like professionals.

6. Safety Culture Pays Dividen

Documented training and inspection logs prove to underwriters that you manage risk actively.

Nate’s Note: Show your safety records at renewal — it’s like handing the underwriter a discount request.

6. Safety Culture Pays Dividends

Documented training and inspection logs prove to underwriters that you manage risk actively.

Nate’s Note: A simple binder of safety records can shave 5–15 % off renewal quotes.

7. Data Is Your Negotiating Power

Underwriters price risk, not loyalty.
Track your loss runs, claims frequency, and safety metrics to negotiate better terms.

Nate’s Note: You can’t control the market, but you can control your story. Back it with data.

7. Data Is Your Negotiating Power

Underwriters price risk, not loyalty.
Track your loss runs, claims frequency, and safety metrics to negotiate better terms.

Nate’s Note: You can’t control the market, but you can control your story. Back it with data.

Nate’s Final Advice

Workers’ Comp doesn’t have to be confusing or costly. Once you understand your codes, track your mod, and manage claims proactively, you take control of your Total Cost of Risk.


That’s the difference between hoping you’re covered and knowing you are.

Nate’s Final Advice

Workers’ Comp doesn’t have to be confusing or costly. Once you understand your codes, track your mod, and manage claims proactively, you take control of your Total Cost of Risk.


That’s the difference between hoping you’re covered and knowing you are.

Ready to See Where You Stand?

Book Your Free Coverage Review

Here’s what you’ll get when you schedule a 15-minute call with Nate Glass:
✅ A personalized Risk Score for your business
✅ A Blind-Spot Checklist showing missed credits or overcharges
✅ A 90-Day Action Plan to reduce claims and premiums

No pressure. No sales pitch. Just clarity.

Ready to See Where You Stand?

Book Your Free Coverage Review

Here’s what you’ll get when you schedule a 15-minute call with Nate Glass:

✅ A personalized Risk Score for your business

✅ A Blind-Spot Checklist showing missed credits

or overcharges

✅ A 90-Day Action Plan to reduce claims and

premiums

No pressure. No sales pitch. Just clarity.

call (xxx) xxx-xxxx to speak with Nate directly

If you haven’t talked to Nate about your coverage, you’re probably paying too much

Ask Nate Glass — Real Answers. Real Coverage. Real Results.

Quick Tips from Nate – Straight Talk, No Sales Pitch

call (xxx) xxx-xxxx to speak with Nate directly

If you haven’t talked to Nate about your coverage, you’re probably paying too much

Ask Nate Glass; Real Answers.

Real Coverage. Real Results.

Quick Tips from Nate – Straight Talk, No Sales Pitch