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.
Precision Manufacturers Insurance agents in California specialize in coverage requirements for the manufacturing industry with an understanding of the complex language found in many policies. This expert knowledge gives them the ability to identify and close any gaps that may exist in your current policy while realigning and perhaps lowering your current insurance costs.
Manufacturers insurance for liability issues, as well as other existing business concerns, is important coverage to have and also to review, since your exposures will help determine whether your insurance addresses these matters effectively. The amount of liability exposure can also help to assess how much you can afford to risk in the event of a significant loss.
PMIS wants to help you with your continued success
Your success as a manufacturer depends on your ability to consistently produce a high volume of goods on tight margins. Unfortunately, much of the things that could negatively impact your company and your work is often beyond your control. You could have some serious financial issues greatly affecting your business if one of your associates, suppliers, or clients was temporarily out of commission.
Without adequate cash flow to maintain operations, pay your employees, and take care of the other expenses that will keep your business going in the event of an unexpected interruption you could be in serious trouble. If you have the necessary business insurance in place, then things should be just fine. But with all of the different scenarios that could bring a work stoppage, and depending on the specific needs of your business, you can obtain insurance that covers losses from storms, fires, theft, disruptions in your partners businesses, and other potentially damaging business events.
When you talk to an agent at Precision Manufacturers Insurance services you’ll enjoy expert advice on how to protect your business from the many unique risks you face in this dynamic industry and you’ll be able to compare insurance quotes from some of the country’s top-rated carriers.
Think for a second about what it may take to get your operation back up and running should you be forced to shut down and rebuild after a loss. These types of decisions often require the expertise of those whose job it is to focus on what you do and that’s the PMIS difference.
Companies in the business of wholesaling equipment to restaurants, grocery stores, and laundromats, to name just a few, have considerable risks over concerns that the equipment may cause injuries to employees operating or moving heavy equipment. Purchasing machine wholesalers insurance, in the form of a workers compensation policy, will address issues of this nature.
Your business and office supplies and equipment distribution company has a lot to deal with on a daily basis. Businesses around the country, and here in the New York state area, count on companies such as yours to keep their operations well stocked and prepared for any issues that might surface. That’s why it’s so important that your business reduces its’ risks, regardless of what hazards may lie in your way.
The need for comprehensive business insurance solutions
Regardless of how safety-minded you may be, no matter how well prepared you are for the dangers associated with your type of business, there are just some things that can’t be prevented. You can help ease your concerns about everything, from property damage claims to third-party lawsuits, and accidents involving company vehicles or equipment damaged while in transit. You need an insurer that can help you manage those risks by assisting you in investing in comprehensive business insurance coverage. The businesses that can benefit most from these workers’ compensation services include:
Office products suppliers
Dealers and wholesalers of furniture and machines
Computer systems dealers and installers
Telecommunication installation companies
Paper distributors, and
Partner with an insurer that can couple you with some of the top providers and can get you competitive quotes. With all that goes on during the course of the day at your warehouse, sometimes it’s easy for employees to become forgetful or neglect using proper safety procedures.
This is when accidents are most likely to occur. Workplace injuries can result in long term workers comp claims, which can also affect employee retention, and can even lead to litigation. For example, if a worker is injured on the job and doesn’t feel that the company is doing all it can to treat his or her injury, including providing a suitable means for their return to work, you may be responsible for paying for more than just medical expenses: the injured party could sue. Call today to find out more detailed information on the machine wholesalers insurance policies that may pertain to your business.