A PEO, or Professional Employer Organization, can help businesses address lapses in workers’ compensation coverage. Lapses in coverage can occur for a number of reasons, such as missed premium payments or cancellation of policies due to non-compliance with insurance regulations.
PEOs can help businesses avoid lapses in coverage by providing access to comprehensive risk management and compliance services. PEOs can assist with the management of workers’ compensation policies, ensuring that all necessary premiums are paid and that the business is in compliance with state and federal regulations.
In addition, PEOs can help businesses obtain coverage quickly if a lapse does occur. PEOs can work with insurance carriers to find coverage options that meet the needs of the business and provide protection for employees.
By working with a PEO, businesses can ensure that they have the necessary coverage in place to protect their employees and their bottom line. PEOs can help businesses navigate the complexities of workers’ compensation insurance and provide the support and guidance needed to address lapses in coverage.