Workers’ Compensation insurance pays the benefits required under the Workers’ Compensation law. The employee’s injury or illness must arise out of and in the course of employment. Once this has been established, the employer is legally obligated to pay the required benefits for that injury, including medical costs and lost wages (up to statutory limits). Such awards are granted without regard to fault or negligence on the employer’s part.
At The Liberty Company Insurance Brokers we understand that your business is your greatest investment, which is exactly why we are dedicated to helping you distinguish what you need to safeguard your team and your business venture.
The cost of Workers Compensation policy is heavily tied to the employer’s “X-Mod” or “Experience Modification Rating” This rating compares your workers’ compensation claims experience to other companies similar in size who operate in the same industry.
The Liberty Company assists our clients in managing their workers compensation risk in multiple ways:
- Work with our clients in finding the best insurance company to purchase insurance from, a blend of best rates, claims management, claims reporting, financial rating and loss control.
- Provide our clients with multiple options of risk transfer; guaranteed cost, deductible, self-insurance, multi-year and PEO options.
- Provide our clients with professional claims management assistance to make sure the claims are being handled properly, employees are being properly communicated with and that the insurance companies are keeping proper reserves.
- Loss control assistance, we assist in making sure our clients get specialized loss control to serve their needs.
Workers compensation insurance strives to be the most effective process available to get an injured worker back to the workforce as soon as possible. It provides the employee with peace of mind; reassuring them that if an on-site accident did happen to occur, they would receive appropriate medical attention- without the out-of-pocket expenses.
Business owners are required by law to have workers compensation insurance and our knowledgeable professionals can help you understand all aspects of the coverage you will need to protect your employees in the event of injury or illness during the course of employment.
Our inclusive solutions provide coverage for:
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits
Please contact us to learn more about your options for Workers Compensation insurance.