Workers' compensation insurance protects employers from liability in case an employee is injured or becomes ill as a result of work-related activities. It covers medical expenses, lost wages, and legal costs associated with these injuries or illnesses, and it's a critical part of any business's risk management plan. But how much should your business be paying for coverage?
The biggest factors affecting the cost of workers’ comp insurance include the industry or type of work that employees do, the total cost of your payroll and your business’ experience modification rating which reflects your company's past claims performance and total number of claims.
All states, with a small number of exceptions, require businesses with employees who are not owners, to purchase workers’ compensation coverage for those employees.
Workers’ compensation costs can be cost-prohibitive if not managed correctly.
There are not a lot of options for a company that needs workers' compensation.
Claims management is lacking for many companies which leads to poor results.
The status quo doesn't have to be the way for your company. There is a way to better control your workers' comp program expenses, lower risk, and achieve better claims management outcomes. Your business needs a dedicated partner who will act in your best interest. A partner who will manage claims (and other steps in the process) as if they are their own. The best way to manage workers' comp is through Proactive Claims Management.
The average Alloy client saves over 20% on their workers' compensation premiums immediately after onboarding, and that's just the beginning!
Alloy is responsible for all risks and is, therefore, proactive and watchful of all steps in the process. The way we work - by definition - we only win when you win.