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  • Workers’ compensation insurance is essential for the health, safety, and security of both employees and employers when a workplace accident or injury occurs. Employers purchase workers’ compensation insurance annually to provide coverage for employees who sustain injuries or illnesses at work. This coverage typically includes compensation for lost wages and medical expenses such as doctor visits, medications, and more. 

    For employers, understanding the limits and structure of their workers’ compensation policy is crucial, not only for compliance but also for financial and operational planning. 

    What Are Employer’s Liability or Part B limits?

    Workers’ compensation limits refer to the maximum amount an insurance policy will pay if an employee decides to sue you for a work-related illness or injury.  These limits are typically broken down into different categories, such as:

    • Per accident: The maximum payout for a single incident. 
    • Per employee: The maximum payout for claims made by one employee.
    • Policy aggregate: The total amount the policy will cover across all claims during a policy period. 

    Different policies offer different limits, and choosing the right coverage depends on the size of your workforce, the nature of your business operations, and your risk exposure. Typical policy limits are $100,000 per accident, $500,000 per policy, and $100,000 per employee.   

    How Claims Impact Employers

    When an employee files a workers’ compensation claim, the employer may face several consequences. If a company has a history of frequent, severe, or high-cost claims, it may receive higher insurance premium costs. A higher number of claims can disrupt operations by affecting productivity and staffing. If an employee is absent from work due to an accident, it can reduce overall production, efficiency, and morale within the workplace. Additionally, the absence of an employee can lead to increased labor costs due to overtime pay for other employees covering for the missing worker. 

    Managing these claims requires significant time and administrative effort. Completing paperwork, managing expenses, conducting investigations, and implementing safety measures can shift focus away from core business operations. Understanding policy limits is crucial for reducing these risks and facilitating smoother claim handling. 

    GMS Workers’ Compensation Coverage

    Choosing the right workers’ compensation policy and understanding its limits is a key part of responsible business management. Group Management Services (GMS) provides workers’ compensation, assistance, and coverage with a policy limit of  $1 million. This coverage helps protect businesses from the financial strain of workplace injuries while ensuring employees receive the care and support they need.  

    Our team can assist with post-accident and claims investigation, return-to-work programs, claims certification, and more. We act as a helping hand as you navigate workers’ compensation and accompanying claims, giving you the expertise and knowledge you need to manage costs, protect your employees, and implement proper safety measures. 

    With GMS’ $1 million coverage, employers can feel confident they have strong protection in place. Still, it’s important to regularly review your policy and claims history to ensure your coverage continues to meet your needs. Feel free to contact us and learn more! 

  • Ensuring workplace safety and maintaining regulatory compliance are essential responsibilities for any business owner. While some industries pose fewer risks than others, every organization benefits from implementing strong safety policies and procedures. Prioritizing workplace safety reduces accident rates, improves productivity, and lowers potential workers’ compensation costs. One of the most effective ways to safeguard your workforce and business operations is through a comprehensive risk assessment. 

    What Is a Risk Assessment? 

    A risk assessment is the process of identifying potential hazards in the workplace and the associated risks within an environment. It helps business owners proactively address safety concerns before they lead to incidents. Risk assessments are a proactive approach towards maintaining workplace safety and should be conducted thoroughly and consistently to ensure regulatory compliance. 

    Risk assessments typically follow three steps: 

    1. Identify hazards in the workplace
    2. Evaluate the risk level and likelihood of each hazard
    3. Develop solutions to control or eliminate the risks

    While a risk assessment is more detailed, the objective remains the same: identify hazards and implement effective solutions to minimize risk. 

    Why Risk Assessments Matter

    1. Protection

    The primary purpose of a risk assessment is to create a safer environment for employees and clients. By identifying and addressing hazards, businesses can prevent accidents, injuries, and illnesses. A safe workplace fosters peace of mind, reduces stress, enhances productivity, and can reduce the number of workers’ compensation claims. 

    2. Compliance

    As a business owner, keeping up with federal, state, and local safety regulations can be overwhelming, especially while managing day-to-day business operations. Risk assessments help identify areas of concern and help you decide what solutions to implement. When you’re compliant, you keep your employees safe from risk and your company from potential reputational damage and monetary penalties.  

    3. Efficiency

    When you have clear and compliant guidelines in place within your workplace, it improves overall safety, morale, and efficiency. Establishing company-wide rules about the proper way to respond to a hazard or accident reduces the risk of mistakes, saves time during an emergency, and gives your workforce peace of mind knowing there is a plan in place. It’s also a good idea to develop emergency action plans, run daily safety checks, and require employees to wear protective clothing to improve the overall safety of your workplace.  

    Benefits of Conducting Risk Assessments

    Regular risk assessments offer numerous benefits:

    • Timely intervention to prevent accidents
    • Improved awareness of safety issues among employees
    • Data-driven insights into problem areas
    • Continuous improvement of safety policies and procedures

    Safety policies can always be improved upon; therefore, conducting a risk assessment consistently ensures the overall safety of your workplace and fosters a culture focused on safety, awareness, and accountability. These assessments proactively identify vulnerabilities, preventing emergencies and costly fines.  

    Workplace Safety with GMS

    Risk assessments aren’t just another risk management strategy; they’re a vital part of maintaining a safe and productive workplace.  Managing workplace safety is an important and challenging responsibility, but you don’t have to do it alone. Luckily, there are third-party companies like Group Management Services (GMS) that can assist with risk management and workplace safety. 

    GMS’ safety experts offer a range of services, including conducting risk assessments, performing job hazard analyses, assisting with compliance, consulting on potential safety solutions, and inspecting your workplace through job site evaluations, and more. By investing in safety, organizations protect their people, preserve their reputation, and build the foundation for long-term success. 

    For any needs related to risk management and workplace safety, GMS is there to help. Learn more about our risk management services here!  

  • Creating a safe work environment isn’t just about limiting accidents or reducing workers’ compensation rates; it’s about protecting your workforce, your reputation, and your bottom line. Workplace accidents can lead to lost productivity, compliance issues, and decreased employee morale. Fortunately, with the right risk management strategies and safety policies, many injuries and accidents can be prevented. Continue reading to learn about a variety of risk management strategies that can help reduce accident and injury rates. 

    1. Conduct a job site inspection

    The first step to cultivating a safer work environment is to carefully inspect and review your current workplace for potential hazards and identify high-risk areas. It may be beneficial to make a list of the hazards you’ve found, and then you can begin identifying potential solutions to eliminate them. Common hazards include unguarded machinery, chemicals, improper lifting techniques, proximity to flammable materials, lack of personal safety equipment or gear, and more. If you’re unsure about how to identify a safety hazard or implement measures to reduce those risks, there are third-party companies, like Group Management Services (GMS), that can assist with jobsite inspections and hazard identification.  

    2. Develop clear safety policies

    Another way to prevent potential accidents or injuries is by developing clear safety policies. These can include mandating employees to wear protective equipment on a specific machine, requiring eye protection, and providing continuous education and training on certain processes or machines. Create and maintain a written safety program that outlines workplace procedures, responsibilities, and expectations. It’s also important to communicate the details of your safety program to employees, ensure these policies are easy to understand and accessible, and keep your workforce up to date with any changes that are made. 

    3. Provide ongoing training

    Safety training shouldn’t be a one-time program or presentation. Training should be a continuous and conscious effort, especially for companies working in high-risk environments such as construction or manufacturing. Business owners should ensure their employees are trained and knowledgeable about the equipment they use, the processes they follow, and common hazards to watch out for. Offering regular sessions on topics like equipment use, emergency procedures, and hazard recognition is a great way to start. It is also best practice to tailor training to specific roles and update it as new risks or regulations emerge. 

    4. Use personal protective equipment

    Preparation is a proactive approach to ensuring a safe and healthy workplace. Business owners should ensure employees have access to essential personal protective equipment (PPE) items such as gloves, goggles, helmets, masks, and vests. These items aren’t just recommended, they’re often required, especially in high-risk industries like construction. But no matter what company or industry you operate in, wearing PPE adds an extra layer of protection and is an effective way to reduce risks and potential injuries from a workplace hazard.

    5. Work with safety experts

    To effectively build a safe and compliant workplace, consider working with risk management professionals who can provide on-site consulting, safety audits, and customized prevention plans. Additionally, a third party can assist with job training, carry out job hazard analyses, provide inspection support, and offer compliance support. Their expertise will help you identify potential issues early and streamline your safety policies and procedures. 

    Risk Management with a professional employer organization

    Creating a safer workplace doesn’t happen overnight. Accident prevention and workplace safety require ongoing commitment, communication, and collaboration. Establishing a safe and compliant environment can be challenging, especially with constantly changing laws and regulations. This is why many business owners choose to partner with a certified professional employer organization (CPEO) like GMS. 

    With the right resources, business owners can significantly reduce the risk of accidents and injuries. GMS’ safety experts can assist you in conducting thorough inspections, developing clear safety policies, leading ongoing training programs, and providing compliance support. Our team can also help reduce workers’ compensation rates and claims.

    By investing in safety, you’re protecting the future of your business. Explore all of the ways that GMS can help you create a safer workplace here! 

  • Protecting your company from potential legal risks is crucial for a successful and compliant workplace. In recent years, the number of lawsuits filed by employees against their employers has increased. While larger corporations often face the majority of these lawsuits, no business is entirely immune to such claims and the associated legal costs.

    While there are numerous concerns regarding the workplace, clients, employees, and legalities, all of them can be costly to your bottom line and business reputation, making it crucial to implement proper safeguards. This is where Employment Practices Liability Insurance (EPLI) comes into play.

    What Is EPLI?

    EPLI is a type of insurance that provides coverage to employers against claims made by employees alleging discrimination, wrongful termination, harassment, and other employment-related issues. Potential claims can include sexual harassment, bias based on gender, race, age, or disability, wrongful termination, negligence, and more. Even if you win the case, plenty of legal costs are associated with these claims, which can chip away at your bottom line. EPLI can protect your business from these kinds of claims by helping to cover the legal costs and damages related to them.

    What Can EPLI Help With?

    Since EPLI coverage protects against employee lawsuits, it is often used to cover claims related to the Americans with Disabilities Act (ADA), the Equal Pay Act (EPA), the Age Discrimination in Employment Act, and other similar laws. It is important to note that having EPLI coverage does not exempt employers from legal obligations; instead, it serves to provide additional protection if a claim is made against them despite their compliance efforts.

    This insurance typically covers legal and court administration fees, witness fees, and expenses related to court-ordered settlements or judgments.

    Importance of EPLI Coverage

    Cost reduction

    Employing EPLI coverage is important for the employer and their business. When a company has a large number of employee-related claims against it, the costs for legal counsel, potential damages, and other lawsuit fees can quickly add up. EPLI coverage acts as a protective layer between your business and the accompanying lawsuit costs, ensuring that a single lawsuit doesn’t jeopardize the company’s bottom line.

    Business protection

    Small businesses don’t always have the money or resources to protect themselves against lawsuits. EPLI coverage provides protection for a variety of claims, including negligence, discrimination, unfair termination, and other related issues. This comprehensive coverage ensures that businesses are protected against multiple potential legal threats.

    Peace of mind

    EPLI coverage allows you to operate a business while focusing on the safety and well-being of your employees. While having EPLI coverage doesn’t guarantee a win in a case or lawsuit, it can provide peace of mind when a claim is filed. Knowing that your business can cover legal counsel and other potential legal or court fees allows you to focus on ensuring compliance, creating a safe and respectful work environment, and growing your business.

    Tips For Reducing Employee Claims and Lawsuits

    While it’s impossible to prevent all claims, you can take steps to minimize the risk of EPLI lawsuits and discourage inappropriate workplace behaviors.

    Continuously update your employee handbook

    Consistently updating your policies is a great way to ensure that employees exhibit appropriate behavior. Implementing strong anti-harassment and anti-discrimination policies is also crucial in providing a respectful workplace. Consistent communication with employees can also help identify any necessary updates.

    Provide training

    By educating employees on proper procedures and best practices, you’re arming them with the knowledge they need to interact with colleagues and within the workplace.

    Run background checks

    Conducting background checks on potential employees not only verifies their qualifications but also helps ensure the safety of your current team.

    GMS & EPLI Coverage

    While understanding and implementing EPLI coverage is a great idea, it can be a complex process. Luckily, working with a professional employer organization (PEO), like Group Management Services (GMS), can make the process easier.

    Alongside our EPLI coverage, we provide additional services that can benefit your business. At GMS, our team will help you create a compliant employee handbook, develop policies for filing and responding to employee lawsuits, and assist in mitigating employment risks. We also offer training on anti-harassment, anti-discrimination, and other essential HR topics for both employees and business owners.

    To learn more about EPLI coverage and how to implement it in your business, download our guide.

  • Whether you’re dealing with workers’ compensation costs or unemployment claims, risk management can be a struggle for any business owner to manage. Effectively mitigating risks, supervising safety protocols, and managing legal liabilities can take time and focus away from business growth and profitability. Fortunately, a professional employer organization (PEO) can help manage these processes and improve your business’s overall safety and risk management.

    What is Risk Management

    Risk management entails identifying and assessing potential risks that could negatively impact a company’s operations, reputation, or financial stability. It consists of evaluating workplace hazards and implementing measures to mitigate or avoid them.

    According to the Occupational Safety and Health Administration (OSHA), millions of workers in the United States experience serious job-related injuries annually. These injuries lead to lost productivity, workers’ compensation claims, and higher insurance rates. Risk management proactively prevents such accidents by identifying hazards and implementing strategies that will safeguard employees.

    Instituting Loss Prevention Strategies

    One way that a PEO can improve your risk management is by instituting loss prevention strategies. These strategies can reduce workers’ compensation claims and improve overall safety. PEOs can help you develop safety programs, write safety manuals and guidelines, implement a drug testing process, or perform workplace inspections. Loss prevention strategies can also include having workers’ compensation insurance, claims representation, and claim investigations.

    Cost containment strategies

    While you can take steps to prevent accidents and terminations, they still happen. In the event a claim is filed, a PEO can handle the following to help you reduce associated costs:

    • Reduce liability for unemployment taxes
    • Help you write detailed handbooks and job descriptions
    • Consult with you on the employee discipline and termination process
    • Ensure you stay compliant with unemployment laws and regulations
    • Provide representation at claims hearings

    Save time and money

    For a small business, workers’ compensation costs can vary from less than $100 to thousands of dollars a year per employee. Workers’ compensation and unemployment claims can’t always be predicted, but you can still reduce the amount of time and money that you spend on legal protection. By implementing safety programs, training, and protocols, you can reduce employee risk. When employees feel safer at their workplace, they are more productive, focused, and have higher morale, all of which can improve your business operations and bottom line.

    GMS and Risk Management

    If you’re searching for ways to improve your risk management and reduce workers’ compensation claims, a PEO like Group Management Services (GMS) could be what you’re looking for. Our team of risk experts are able to develop safety programs and policies to fit your specific industry and workplace. They can also perform worksite inspections, identify potential hazards or accident-prone areas in your workplace, and provide specific, cost-effective solutions.

    Learn more about GMS here!

  • In the construction industry, no two days are alike. Managing multiple crews, juggling job sites, adhering to safety regulations, and keeping projects on schedule leaves little time for payroll, human resources (HR), or benefits. However, neglecting these administrative responsibilities can result in noncompliance, poor retention, safety risks, and burnout. 

    That’s where a professional employer organization (PEO) comes in. By partnering with a PEO like Group Management Services (GMS), construction business owners can offload HR responsibilities, reduce risk, and build a stronger, more efficient workforce. 

    Here’s how a PEO can specifically support your construction business: 

    Payroll Built for Job Sites, Not Desks 

    Processing payroll in construction involves more than just cutting checks. It requires tracking hours across multiple sites, managing prevailing wage requirements, calculating union dues (if applicable), and ensuring accurate job costing. 

    A PEO streamlines all of this by: 

    • Handling complex multi-state payroll 
    • Ensuring compliance with local, state, and federal wage laws 
    • Integrating certified payroll reporting for government contracts 
    • Simplifying job costing by categorizing labor costs per site or project 

    Safer Job Sites and Lower Workers’ Comp Costs 

    Construction sites have higher risks, which means higher workers’ compensation premiums. A PEO helps construction companies mitigate risk and often offers access to more affordable coverage through a shared risk pool. 

    With GMS, you get: 

    • Safety program development and training 
    • Occupational Safety and Health Administration (OSHA) compliance support 
    • On-site inspections and recommendations 
    • Workers’ compensation policy management and claims handling 
    • Return-to-work programs to reduce lost time and costs 

    We’re not just here after an accident; we help you prevent them in the first place. 

    Help With Hiring and Keeping Skilled Workers 

    Hiring in construction is competitive, and retaining good employees is even tougher, especially when small contractors are competing against larger firms with better benefits. 

    GMS gives you the power of a big company by offering: 

    • Access to Fortune 500-level benefits (health, dental, vision, 401(k), etc.) 
    • Recruitment support and applicant tracking systems (ATS) 
    • Streamlined onboarding and digital document management 
    • Tools for tracking certifications and licenses 

    A stronger benefits package makes your job postings stand out and gives your crew a reason to stay. 

    HR Compliance That Keeps You Out of Trouble 

    Between classifying 1099s vs. W-2s, tracking hours, and adhering to ever-changing labor laws, HR compliance in construction can be a minefield. One misstep can lead to audits, penalties, or lawsuits. 

    GMS protects you by: 

    • Managing employee classification and documentation 
    • Ensuring wage and hour law compliance 
    • Maintaining up-to-date employee handbooks and policies 
    • Handling unemployment claims and The Equal Employment Opportunity Commission (EEOC) filings 
    • Providing expert HR guidance when issues arise on-site 

    We help you stay compliant so you can keep your projects moving without disruption. 

    More Time for Project Deadlines: Less Time on Paperwork 

    You didn’t get into construction to sit behind a desk pushing paperwork. Outsourcing your HR functions to a PEO gives you time to focus on what you do best: bidding jobs, managing crews, and growing your business. 

    We handle the behind-the-scenes HR tasks so you can: 

    • Spend more time on-site 
    • Reduce administrative burnout 
    • Gain peace of mind knowing your business is protected 

    Build Smarter with a Trusted PEO Partner 

    The construction industry is high-stakes and fast-paced. The last thing you need is to get tripped up by an HR issue that could’ve been avoided. When you partner with GMS, you get more than just outsourced services; you get a strategic partner who understands the demands of your industry and helps you stay ahead. 

    Let us take the heavy lifting off your plate. Contact us today to learn how GMS can help your construction business grow with confidence. 

  • Running a small business is no small feat. Between managing daily operations and driving growth, it’s easy to overlook one of the most critical aspects of business success: regulatory compliance. But here’s the thing: ignoring compliance can lead to hefty fines, legal headaches, and even damage to your reputation. So, what exactly is regulatory compliance, and why should it be on your radar this April? In this blog, we’ll break down the essentials, highlight key April deadlines, and show how partnering with Group Management Services (GMS) can simplify the process while helping your business thrive. 

    What Is Regulatory Compliance, And Why Does It Matter? 

    Regulatory compliance refers to the process of adhering to laws, regulations, and standards relevant to your industry. Think of it as the rulebook your business must follow to stay on the right side of the law. For example, laws like the Sarbanes-Oxley Act (SOX) and the Federal Information Security Modernization Act (FISMA 2014) set strict guidelines for financial reporting and data security—rules that many businesses must comply with depending on their operations. 

    But compliance isn’t just about avoiding trouble; it’s a foundation for sustainable growth. Here’s why it matters: 

    • Avoid costly penalties: Non-compliance can lead to expensive fines, lawsuits, and even workers’ compensation claims. For example, failing to meet Occupational Safety and Health Administration (OSHA) standards could result in penalties that negatively impact your bottom line. 
    • Boost employee morale and retention: A compliant workplace shows employees you care about their safety and well-being. When employees feel valued, morale improves, productivity rises, and turnover drops. 
    • Enhance operational efficiency: Many compliance requirements push you to streamline processes, reduce inefficiencies, and improve the quality of your products or services. Over time, this can make your business more profitable and manageable. 

    Key Regulatory Compliance Deadlines In April 

    April is a busy month for compliance deadlines. Missing these dates can lead to penalties or missed opportunities, so mark your calendar! Here are some of the most important dates to know: 

    • April 15th: Tax Day—the deadline for filing individual and corporate tax returns. Don’t wait until the last minute to get your paperwork in order! 
    • April 30th: Employers must post OSHA Form 300A (summary of work-related injuries and illnesses) in a visible workplace location from February 1st through April 30th. This transparency informs employees and ensures compliance with OSHA regulations. 

    Pro Tip: These are just a few of the deadlines to watch. Depending on your industry, there may be additional state or federal requirements. Staying proactive can save you from last-minute stress. 

    The Risks of Non-Compliance—And How To Avoid Them 

    Ignoring regulatory compliance isn’t just risky—it’s expensive. Fines for non-compliance can range from hundreds to millions of dollars, depending on the violation. Beyond the financial hit, non-compliance can lead to legal battles, damaged reputations, and even business closures. For small businesses with limited resources, these setbacks can be devastating. 

    The good news? You don’t have to navigate this complex landscape alone. Partnering with a professional employer organization (PEO) like GMS) can take the burden off your shoulders. 

    How Group Management Services Simplifies Regulatory Compliance 

    At GMS, we understand that regulatory compliance can feel overwhelming, especially for business owners juggling multiple responsibilities. That’s why we’re here to help. When you partner with GMS, you gain access to a team of experts who can: 

    • Keep you updated: We monitor changes in state and federal laws, so you don’t have to. Whether it’s a new OSHA regulation or an update to tax codes, we’ve got you covered. 
    • Manage workers’ compensation: From claims to compliance, we streamline the process to minimize risks and costs. 
    • Provide legal guidance: Our experts offer advice to ensure your business stays compliant and avoids costly mistakes. 
    • Support your growth: Beyond compliance, GMS offers payroll assistance, recruitment support, and more, giving you the tools to scale with confidence. 

    With GMS as your trusted partner, you can focus on what you do best—running your business—while we handle the complexities of compliance. 

    Take Control of Compliance Today 

    Regulatory compliance doesn’t have to be a headache. By staying informed, meeting deadlines, and partnering with experts like GMS, you can protect your business, boost efficiency, and set the stage for long-term success. Ready to simplify compliance and take your business to the next level? Contact Group Management Services today for a free consultation and discover how we can help you navigate the regulatory landscape with ease. 

  • Cyber threats are a growing concern for businesses of all sizes. A 2024 survey revealed that 39% of small companies have experienced both security breaches and data breaches. From ransomware attacks to data theft, companies face growing risks that can lead to financial losses, operational disruptions, and reputational damage. Cyber liability insurance helps protect businesses by covering the costs associated with cyber incidents, allowing them to recover quickly and minimize potential harm. 

    What Is Cyber Liability Insurance? 

    Cyber liability insurance is a specialized type of business insurance that provides financial and legal protection in the event of a cyberattack or data breach. Unlike general liability insurance, which often excludes cyber-related incidents, cyber liability insurance specifically addresses risks like hacking, phishing scams, and ransomware. 

    Why Is Cyber Liability Insurance Important? 

    As businesses use more digital systems and online transactions, cybercriminals have more chances to find and exploit weaknesses. Cyber liability insurance safeguards businesses against the costs associated with actual or suspected privacy regulation violations resulting from security breaches. These breaches may lead to the unauthorized release of protected personal information, which includes any private, non-public data under the care, custody, or control of the business. Small and mid-sized businesses are particularly at risk, as they may not have the same security resources as larger corporations. A cyberattack can result in: 

    • Significant financial loss: Data recovery, business downtime, and legal expenses can be costly. 
    • Reputational harm: Customers may lose trust in a business that experiences a data breach. 
    • Regulatory fines and legal penalties: Many industries require businesses to follow strict data protection laws, and violations can lead to penalties. 
    • Operational disruptions: Cyberattacks can shut down business operations, causing delays and lost revenue. 

    Cyber liability insurance provides essential protection, ensuring businesses have the resources to respond effectively to cyber incidents. 

    What Does Cyber Liability Insurance Cover? 

    Cyber liability insurance typically includes coverage for: 

    • Worldwide coverage: Protects your business globally against cyber threats. 
    • Cyber event expenses: Covers costs related to managing and mitigating cyber incidents, including notification and credit monitoring, forensics expenses, associated legal expenses, and call center and public relations support. 
    • Ransom payment: Helps cover ransom payments and recovery costs in the event of cyber extortion or ransomware attacks. 
    • Cyber deception: Provides protection against deceptive cyber practices aimed at your business, including fraudulent instruction, funds transfer fraud, and telephone fraud. 
    • Regulatory fines and penalties: Covers fines and penalties imposed by regulatory bodies due to a cyber incident. 

    How GMS Can Help Protect Your Business 

    At Group Management Services (GMS), we know how critical cybersecurity is for businesses. As cyber threats become more sophisticated and evolve with advancements in artificial intelligence (AI), protecting your business is more important than ever. Our cyber liability insurance provides comprehensive coverage to help protect your business against the financial and legal consequences of cyberattacks. From data breaches to ransomware and business interruptions, GMS offers tailored protection to keep your company safe and secure. 

    Don’t wait for a cyber incident to impact your business. Contact GMS today to learn how our cyber liability insurance can safeguard your company. 

  • Ohio’s private employers are set to receive another reduction in their workers’ compensation premiums. The Ohio Bureau of Workers’ Compensation (BWC) has approved a 6% rate reduction, effective July 1, 2025, following a 7% cut implemented in 2024. This latest reduction is expected to save private employers across the state approximately $60 million in the next fiscal year. 

    A Continued Trend Of Lower Costs For Employers 

    The newly approved reduction marks the 16th rate cut in the past 17 years, bringing premium levels to their lowest in over 60 years. Ohio Governor Mike DeWine attributed the continued decline in costs to businesses fostering a culture of workplace safety, which has helped reduce claims and overall risk. 

    BWC Administrator/CEO Stephanie McCloud emphasized that the agency’s focus remains on maintaining a strong and stable workers’ compensation system while keeping costs low for the 258,000 private and public employers participating in the program. 

    What This Means For Small Businesses 

    The rate reduction is particularly beneficial for small businesses, allowing them to reinvest savings into their workforce and operations. Chris Ferruso, Ohio state director of the National Federation of Independent Business (NFIB), noted that reducing costs for small employers helps them retain employees, enhance workplace safety programs, and navigate economic challenges. 

    However, it’s important to remember that the 6% rate cut is an average statewide change. Individual employers’ premiums may vary based on factors such as: 

    • Industry risk levels and expected future claims costs 
    • A company’s recent claims history and safety record 
    • Participation in BWC safety programs and incentive initiatives 

    How GMS Can Help Your Business Maximize Savings 

    At Group Management Services (GMS), we are dedicated to helping businesses fully leverage the benefits of the Ohio BWC rate reductions while enhancing workplace safety and ensuring compliance. Here’s how we can help: 

    • Risk analysts: We provide personalized guidance to help you understand the impact of the rate reduction on your business and identify strategies to maximize your savings. 
    • Workplace safety programs: Our experts help implement effective safety programs that can reduce claims and further lower premiums. 
    • Claims management: By closely monitoring and managing claims, we help businesses control costs associated with workers’ compensation, minimizing the financial impact on your company. 
    • Compliance support: Navigating BWC regulations can be complex; we ensure your business stays compliant with all requirements and adapts to any changes in the system. 

    By partnering with GMS, employers can achieve significant cost savings, improve workplace safety, and maintain regulatory compliance. Contact us today to learn how we can help your business make the most of these savings and create a safer, more productive work environment. 

  • Key Takeaways

    1. Next steps: The BWC Board will vote on the six percent reduction on February 28th.
    2. Effective date: If approved, the rate change takes effect on July 1, 2025.
    3. Potential savings: Ohio private employers would pay $60 million less in total premiums over the next fiscal year.

    Ohio’s private employers may soon see yet another reduction in their workers’ compensation premiums. On January 24, 2025, the Ohio BWC announced a proposal for a six percent rate cut, a move that could save employers across the state a collective $60 million starting in July of this year.

    Continuing A Trend Of Rate Decreases

    If approved at the BWC Board of Directors’ meeting on February 28th, this would be:

    • The sixth rate reduction since Governor Mike DeWine took office in 2019.
    • The 16th decrease in the past 17 years, going back to 2008.

    According to the BWC, the average premium levels for both private and public employers (totaling about 257,000 across Ohio) now stand at their lowest in 60 years.

    Why The Proposed Rate Cut?

    BWC Administrator/CEO Stephanie McCloud emphasizes that the continued trend toward lower rates reflects the commitment of Ohio’s workforce to promoting safety on the job. In addition, program participation, fewer claims, and a strong focus on injury prevention have helped keep costs in check.

    Impact On Employers

    This six percent rate decrease is an average statewide premium reduction. Actual savings for individual employers will vary based on:

    • Industry risk and expected future claims costs
    • Recent claims history
    • Participation in various BWC safety and discount programs

    Nonetheless, Ohio businesses, particularly small and midsize businesses (SMBs), stand to benefit significantly if the BWC Board gives final approval.

    Looking Ahead

    With the BWC’s track record of approving proposed cuts, many anticipate a favorable outcome on February 28th. Ohio Chamber of Commerce President and CEO Steve Stivers has already expressed strong support, noting that this decision would help make Ohio “the best place in the nation for business.”

    How GMS Can Help

    If you’re looking to take full advantage of potential premium savings or want to ensure your workplace safety measures and BWC program participation are optimized, Group Management Services (GMS) can help. Our experts will work alongside your organization to:

    For more information on how this rate reduction could affect your organization, or to explore additional ways to reduce overhead costs and streamline your HR, contact us today. We’re here to help you stay informed, compliant, and prepared for changes as they develop.