Imagine having a valued employee get hurt at your workplace.

Well, if you are incorporated and are the president, secretary or treasurer of your company, you are personally liable for medical care and compensation payments for that worker plus all penalties. In addition, if the employee sues you, you will be deprived of any common-law defense.

If you can pay medical bills, withstand the onslaught of a high-powered lawsuit and are willing to break the law by not having worker’s compensation insurance, then so be it.

If you are like most Massachusetts firms, you purchase the insurance. However, you do so while seeking ways to reduce the cost.

Act now and contact James O’Connell Insurance Agency. Having insured businesses in Massachusetts area since 1982, we can help save you a substantial amount of money by examining the following four areas as they pertain to your business:

Rates: While worker’s compensation rates are standard nationwide, depending on carrier, insurance companies apply what they call “deviations, premium discounts or schedule credits” from those rates, up or down depending on the loss experience.

Premium Audit: When it is time for your annual premium audit, we can make sure you are properly classified and that you maintain your records to receive the most advantageous payroll calculations and classes.

Experience Mod: We will help make sure your experience mod is an accurate reflection of your claims.

Loss Control: A loss control or risk management program where injuries to your employees are minimal because of the safety features used on your premises.

It pays to review your policy yearly to make sure you are receiving all of the discounts your business is entitled to.