Employee Injured on the Job, Work Comp Covers This Right?

You're an employer that thinks bidding out your Workers' Compensation insurance is the only way to reduce cost.  You are unaware that there are several other factors playing into your Worker's Compensation coverage.

-In many cases, injured employees don't get the right treatment by the right doctor at the right time.

-Business owners are frequently overcharged through the premium audit process.

-Experience modification factors are often incorrect and mismanaged

-Employees are at risk of losing their group health benefits when they are out on Workers'Compensation claims.

-Business owners are potentially exposed to catastrophic uncovered Federal Acts' losses

Workers' Compensation insurance programs are frequently loaded with mistakes and overcharges.  Recovering premium overcharges, properly verifying and managing experience modification factors, and improving injury management outcomes are all things that should be done by your agent. 

I was recently with a client going over his workers' compensation policy.  After doing some research I discovered an error related to the calculation of his experience modification factor.  The overcharge was occurring because the existing Worker's Compensation policy failed to combine several entities in which the company had common majority ownership. 

When the entities were combined for experience rating purposes, the experience modification factor dropped significantly and hundreds of thousands of dollars were returned to the employer, not only for the current year but also for the previous two years. 

If you have any questions regarding your Risk Management please contact Sean Leigh