The Colorado Division of Workers' Compensation has updated its Workers' Compensation Surcharge Web Portal. The new Web application is designed to facilitate calculation of surcharge by insurers and self-insured employers.
"In Colorado, employers with one or more full or part-time employees are required to provide worker's compensation coverage for their employees, with few exceptions," the site reads. "Employers may obtain insurance through a number of methods including commercial insurance and self-insurance for those employers meeting strict financial and loss control standards or self-funding with groups or pools. Insurers and self-insured employers pay a surcharge based on a percentage of premium or premium equivalents to the Colorado Division of Worker's Compensation to offset the cost of administration of the Colorado worker's compensation system and to fund the Major Medical and Subsequent Injury Funds. Surcharge is collected semiannually.
To find out more or access the calculator directly, click here.
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