Worker's Comp Insurance- Is it all the same?

There are literally hundreds of Insurance Companies out there that will quote your business- if you have had a good claims history. Are they all the same- we don’t think so.

There are 3 main variables to consider when looking at a worker’s comp carrier:

1) Obviously, price has to be a major consideration.

Are they willing to offer you a competitive rate in today’s price-driven marketplace?

2) How are their claims handled?
Do they simply take the claim and pay the bills, or do they have people that will take the time to understand your business and help you manage the recovery of your employee? A quick response and explanation of what is to come next is essential to mitigating the claim.

3) Do they have an on-going training program?
So many times, we see monoline worker’s comp carriers who are just here to “write the business and get on down the line”. The really goodWorker’s Comp carriers understand that each business is different, and there are special training needs for each business. They have people available that will work with your company individually to prevent future employee injuries.

The other part of this scenario, obviously, is to be working with an agent who is knowledgeable concerning employee injuries- how to prevent them, how to reduce and mitigate them, and how to help you run your business more safely.

There really IS a difference in Worker’s Comp carriers, and the people who work with you and your business.

Bobby Bland PWCA, CIC

Vice President

Commercial Risk Service