Injuries Happen Even in the Safest of Workplaces

Accidents happen, even in the seemingly safest of workplaces. Whether you work in hazardous construction zones or comparatively mild office spaces, theres always room for error. When your employees get injured on the job, you can be held responsible for their medical bills, lost income, or other injury-related expenses. A good workmans comp insurance program can protect both your company and your employees.

Injuries Are Expensive

Depending on the severity of the injury, a worker injured on the job can accrue thousands in medical bills and other expenses which, without insurance, have to come out of the company pocket. Paying out restitution from company funds can be detrimental to both your company and your other employees, as that means less money to pay salaries and invest in new products. With workmans comp insurance, however, a small monthly premium takes the place of these lump payouts. This investment means that your insurance company handles the payout to your worker, ensuring that they get the appropriate payments on time, so you can focus your companys spending where its really needed.

In a small, relatively safe workspace, it may not seem important, but workmans comp insurance is an important investment in any work environment. It protects both your employees and your company in the event of even the smallest workplace accidents.

What to Look for in a Workmans Comp Insurance Wholesaler

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.