Hi Tracy. The rates for workers compensation liability insurance would come from your insurance provider - Sage does not have these rates and cannot provide them as they are related directly to your company. If the person you talked to at your insurance company does not know those rates, then either your company does not currently carry liability insurance (some states require this, but most do not), or you may need to speak to someone else at the insurance company who can help you. 

Hi Tracy. The rates for workers compensation liability insurance would come from your insurance provider - Sage does not have these rates and cannot provide them as they are related directly to your company. If the person you talked to at your insurance company does not know those rates, then either your company does not currently carry liability insurance (some states require this, but most do not), or you may need to speak to someone else at the insurance company who can help you. 

I appreciate your quick response.  We do have liability insurance.  The problem is we do not know who to get to that magic number that goes into the liability column.  What is the calculation to get that liability number.  What number do you take from the liability insurance?  Then how do you arrive at the final number.  We have categories such as painting, masonry and carpentry in Iowa, Illinois and Wisconsin.  They all have their own numbers.

Unfortunately, there is no calculation or method that we have to come up with that rate. It's simply a % (i.e 4.525) that is entered into that column for any particular comp code. We have no way to determine how the previous user came up with those numbers. You would need to do your best to match up those category rates with the appropriate comp code.

It is a magical number, that's for sure.  Typically Gl insur is based on sales not payroll.  But you typically have to provide estimated sales and estimated payroll so there is a relationship between the two.  So the prem is typically divided by sales to get sales %.  so for payroll it would be prem / estimated payroll. that is the % you put in Sage column.  But you should analyze a couple times a year to see if adjustments need to be made since estimates can be too high or too low.  when estimates are too low you will owe money

GL rates do not vary by WC code in CA, but I cannot speak for other states

I will pass on to my insurance agent.  That is the best answer I have received so far!  I appreciate your help.

Hi Tracey Winsett, if the above suggested answer helped, please do mark it as verified  for the benefit of others in this forum :). Thank you!

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