For business owners, keeping their employees safe is an important part of daily operations. In addition to offering a protected working environment, employers must also establish financial and legal safeguards. If there is an occasion where an accident or incident occurs involving employees who are on the job, workman’s’ comp insurance is the safeguard needed.
Workman’ comp plans are mandated by laws, establishing criteria for business owners concerning the financial obligations of the employer to the employee in the event of an accident. These claims are more than simply coverage for medical bills. They can include coverage of lost income while an employee recovers from an accident, as well as monetary assistance for the company if a lawsuit arises.
An experienced insurance broker will understand what coverage your business needs, but they should also provide exceptional service. Some of their services should include:
- Partnerships with nationally and regionally A-rated carriers
- Strong risk management and assessment programs
- Multi-state service areas
- Large deductible programs
- Prompt and affordable quote returns
- Captive and self-insurance programs
In addition to educating and advising on workman’s’ comp insurance, your brokering agency should also be able to inform you on safety programs to reduce risks, establish policies to remain OSHA-compliant, and analyze company trends for fraud and abuse.