How To Handle Workers Comp Non-Renewal
Your company might go through numerous workplace incidents, resulting in your insurance carrier deciding they don’t want to do business with you anymore. What measures can your company establish to avoid this from happening?
What Can Cause A Workplace Non-Renewal?
Usually, when an insurance company decides they no longer want to do business with you, it means that something went wrong on your end. An example could be your company going through a shock loss, a bad injury that impacts your overall performance. Any carrier paying out more in losses than they take in for premiums will evaluate continuing coverage.
So what are your options when an insurance company pulls out? We are here to help you demonstrate to underwriters what your natural workplace hazards are and how you are prepared to fix them. Our team has more than 50 years of combined experience in the insurance industry.
Manage Your DART Rate
We’ve talked about the DART rate in some of the most recent blog posts (backlink to blog post). Properly handling your DART rate can significantly reduce the chances of your insurance company pulling out.
Conduct Training Sessions
Ensure your company is constantly engaging in short-burst training sessions and safety lessons throughout each department. Get good at accident and incident investigations throughout your facilities.
Learn from your past mistakes and adopt a strong line of communication between you and employees and their supervisors. Teach your supervisors to be helpful with the training programs. Above all else, make sure there is accountability within the workplace.
Discover How SafT Integration Can Assist With Preventing Work Comp Non-Renewal
Contact us today or fill out the form below for more details on ensuring your insurance company remains in place and your company is staying safe and healthy!
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