Workers Compensation Insurance
Workers’ Compensation Insurance
Hi Everybody,
Welcome back! I hope your year has started off well. Today I wanted to talk about Workers’ Compensation Insurance. In this article we are going to define what Workers’ Compensation is, discuss the need and value of Workers’ Compensation Insurance, and thirdly we are going to preview the top providers for Workers’ Compensation Insurance.
Workers’ Compensation Insurance or Work Comp for short, is “a state-mandated insurance program that provides compensation to employees who suffer job-related injuries and illnesses”[i]. To put that in layman’s terms Work Comp is an insurance policy that a business owner needs in order to cover any injuries or illnesses that occur while they or their employees are performing their jobs.
Apart from being state-mandated, Work Comp has tremendous value to the business owner. Imagine the stress level you would maintain if you had to pay out of pocket for an injury that occurred to one or more of your employees! This is where the value of a good Work Comp policy is shown in that the business owner knows this is risk is covered should an injury occur. But that is not all folks, having a Work Comp policy in place shows that the business owner cares for his or her employees and that they can trust you would be there for them should an injury occur.
When selecting a carrier for Work Comp it is important to keep in mind that not all carriers are created equal. Different carriers are going to have different market niches that they excel in. That is why it is so important to have an independent agent who knows these carriers sweet spots, so they can write you with a carrier that is going to work best for your type of business. In 2014 A.M. Best, which is a U.S. based insurance rating company, put out a list of the top twenty five Workers’ Compensation Carriers. Some of the names that made this list were; Travelers, Zurich, and Auto Owners.[ii] Want to know how this affects you? We here at Childress Insurance Agency have contracts with these carriers, along with many other top rated carriers who are just waiting to write your business. We would appreciate the opportunity to sit down and discuss your insurance needs, and we are confident that we can provide for your Workers’ Compensation Insurance along with all of your other needs with the same friendly service we have been offering for many years. Come let us show you that there is a difference doing business with our agency!
Thank you and May God bless you,
John Max Bolling
[i]http://www.nolo.com/legal-encyclopedia/your-right-to-workers-comp-benefits-faq-29093.html
[ii]http://www.insurancejournal.com/news/national/2015/11/02/387153.htm