MPG SOLUTIONS > EMPLOYER OF RECORD
WORKERS’ COMPENSATION SOLUTIONS: Employer of Record (EOR)
UTILIZING AN EMPLOYER OF RECORD FOR WORKERS’ COMPENSATION INSURANCE
An EOR is a program where the EOR entity becomes the statutory sole employer for the risks workers, but does not take a supervisory or management role related to the workforce. The EOR manages payroll and Workers’ Compensation, and is ideal for companies with few employees or for those who are very highly Work Comp distressed.
Monarch Partners Group (MPG) can secure Workers’ Compensation coverage for your distressed risks through an EOR. The EOR is ideal for newer, smaller entities. It uses a pay-as-you-go process with each payroll run, allowing for better administration and cash flow management.
New potential EOR clients’ only need to be evaluated and underwritten by the EOR, which usually takes about a week to complete.
EOR for TAKING ON RISK
EORs are typically willing to work with small businesses with as few as one or two regular employees. They oversee seasonal workers, project-specific hires, and out-of-state employees, and understand employment laws inside and out. They take on the responsibility for all of the taxes, insurance, and benefits. EORs ensure that the employees they oversee are covered for workplace-related illnesses or injuries.
MPG SOLUTIONS
With more than 30 years of experience and many millions in payroll/premium in our programs, MPG can find a Workers’ Compensation solution for most any distressed risk in any industry. We do this through our carefully selected, vetted and contracted Standard Markets, Administration Service Organizations (ASO), Professional Employer Organizations (PEO), Employer Of Record (EOR), and Captive program markets. MPG delivers to Agents & Brokers and their clients the right tailored solution. One size does not fit all when it comes to Workers’ Compensation solutions.