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Components of a Successful Workers’ Comp Program

Components of a Successful Workers’ Comp ProgramWorkers’ Compensation Insurance is a necessity for businesses of all types and sizes. As a broker, you know that without this policy, business owners are setting themselves up for a doomed financial future. Selling a required insurance policy isn’t a huge challenge, but what about explaining the important components of a successful program? For your clients to be successful, they have to consider all of the key factors that result in minimizing claims. Establishing yourself as an expert is the first order of business, which is why we’ve provided the following advice.

Establishing a safety culture.

The best part about a safe workplace culture is not having to file claims. Agents and brokers need to have a real grasp on how to implement these safe cultures as they’re the ones who will be the client’s go-to should they have a question.

Pre-employment screening.

Hiring practices alone may not identify prospective employees who are incapable of performing the physical requirements of the position. Screenings such as pre-placement physicals may be necessary to make sure the person can safely perform their duties and not harm themselves or coworkers, says BNC.

Prompt accident investigation.

Stressing the importance of accident investigation makes a huge difference in the severity of claims that your clients file. The legitimacy of a claim can be determined quickly once witnesses are interviewed and the cause of the incident is identified.

System monitoring.

You won’t know how your workers’ compensation program is performing if you don’t monitor the results. Regularly review accident investigation reports, claim trends, and the status of any open claims, and modify as needed to address problems. This is a key component that you can assist them with to ensure they coverage is working for the client and if anything needs to be added.

About ASIA Workers’ Compensation

Workers’ Compensation insurance is required in most states, but that doesn’t mean all coverages are created equally. An experienced carrier with aggressive claims management can reduce the overall costs to the business and get the employee back to work in a timely manner. Associated Specialty Insurance Agency, Inc. has been “The Workers’ Compensation Specialist for Brokers and Agents” for the past two decades and is committed to providing brokers and insurance agents across the East Coast with expertise and services to develop a Workers’ Compensation policy. For more information about how we can assist you with claims management, anti-fraud measures, and more, call (610) 543-5510 to speak with one of our professionals.

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