Workers Compensation

Tri-State Insurance Agency: Risk Management Key to Insurance Program

Workers compensation is on every business owner’s agenda in terms of increasing safety, reducing losses, combating fraud, getting employees back to work, and keeping premiums in line. A workers compensation analysis from Tri-State Insurance Agency can help you address these issues.

Part of our work comp analysis involves looking at your experience modification factor, which helps determine your insurability and your premiums. Your “ex mod” is based on your workers compensation claims and the amount the insurance company had to pay out because of them. There are instances when your records and that of the carriers aren’t in sync, which can result in your business paying too much for insurance. A worker’s compensation review can reveal such issues.

Employee classification important.

Additionally, in the process of our analysis, we may find employees who are misclassified or contract workers, especially with temporary staff firms, subcontractors and independent contractors, that don’t properly cover employees for their work with your company. We may also discover that your employees who travel on business or work across state lines fall outside the scope of your current policy. We’ll make recommendations accordingly.

At Tri-Sate, we’ll also help you determine who are your most at-risk employees, what they need to improve their safety, and what improvements are available to your equipment and processes that could improve health and wellness for your workers. Once you discover your strengths and weaknesses, you can implement further safety procedures. If return-to-work programs or prescription/claims management programs would be helpful, the insurers with whom we partner can provide you with assistance.

Delivering workers comp solutions for your business.

Tri-State Insurance Agency provides comprehensive business insurance and risk management solutions for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.