Core Business Information
Insurers start with the basics: legal name, address, and federal employer identification number (EIN). They also need the type of legal structure—sole proprietorship, partnership, corporation, or LLC—because each carries different liability considerations.
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Payroll and Wage Details
Accurate payroll figures are the single most influential factor in pricing. Provide total annual payroll for each class of employee, broken down by state if you operate in multiple locations. Include both regular wages and supplemental earnings such as overtime, bonuses, and commissions, because they affect the exposure base.
Job Classifications (NAICS/NCCI Codes)
Each role must be matched to the correct workers' compensation classification code. Use the National Council on Compensation Insurance (NCCI) codes for the U.S. or the equivalent NAICS codes where applicable. Misclassifying a high‑risk position as low‑risk can lead to severe rating adjustments or coverage disputes.
Claims History
Provide a detailed loss history for the past three to five years. Include dates of incidents, nature of injuries, claim amounts paid, and any pending reserves. A clean record can earn discounts, while frequent or severe claims will raise premiums.
Safety Programs and Training
Document any safety certifications (e.g., OSHA, ISO 45001), injury prevention programs, and employee training initiatives. Evidence of proactive risk management often qualifies you for experience rating credits or lower class codes.
Location and Worksite Conditions
List every worksite address, noting whether operations are on‑site, off‑site, or remote. Include information on site conditions—exposure to hazardous materials, machinery, or extreme environments—because these variables influence the insurer's risk assessment.
Additional Coverage Needs
If you require supplemental coverage—such as employer's liability, statutory benefits, or excess workers' comp—specify the desired limits. These add-ons affect the overall quote and should be considered alongside the core policy.
Sample Data Table
| Data Category | Typical Details Required | Why It Matters |
|---|---|---|
| Business Identity | Name, EIN, legal structure | Establishes underwriting entity |
| Payroll | Total wages by classification, state | Determines premium base |
| Job Codes | NCCI/NAICS codes per role | Assigns risk class |
| Claims History | Dates, injuries, paid amounts | Adjusts experience rating |
| Safety Programs | Certifications, training records | Qualifies for discounts |
Preparing for the Quote Request
Compile the above items into a concise spreadsheet or digital file before contacting carriers. Having ready-to‑share PDFs of safety audits, payroll reports, and loss runs speeds up the underwriting process and reduces the chance of back‑and‑forth requests.
Finally, be prepared to answer follow‑up questions about seasonal workforce fluctuations, subcontractor usage, and any upcoming changes to operations. The more complete and current your data, the more accurate—and potentially lower—your workers' compensation quote will be.