There is much turmoil in the workmans comp insurance industry. Between a fear of insurance fraud and the states enacting tough legislation, many small business owners are left without crucial coverage. They turn to you, their insurance agent, and you’re going to have to turn to a wholesaler that can meet your clients special needs. Here’s how to find a perfect match.
Your Wholesaler Should
Of course any wholesaler with which you work should be licensed and have an expertise within the insurance industry, but there are other items you to place on your checklist as well. They include:
- A strong foothold in the workmans comp insurance marketplace
- The ability to provide quick quotes from multiple states
- Carriers that are A-rated and offer flexibility in their payment terms.
- Carriers that offer large deductibles for those who need them
- Carriers that provide needs for those seeking to be self-insured
- Underwriting that is done in-house
- A risk management program that is above average
Getting the Full Package
As the agent seeking workmans comp insurance coverage for your clients, you must perform your due diligence and research any wholesaler with which you plan to work. Alongside the above, the wholesaler should also offer safety programs and OSHA education. This presents your clients with the full package to protect their business and employees.