Workers’ Compensation Insurance is a necessary evil. Almost every state in the country — other than Texas — mandates employers to carry workers’ compensation insurance. In the end, it’s not just a matter of finding the right policy for your business, but it is also about how you manage it. The goal is to manage your workers’ compensation in such a way that you minimize your potential risk and control the ultimate cost to you. We can help you effectively do so while still ensuring your employees and their safety come first.
If you are looking for a workers’ compensation insurance company you can trust, we invite you to speak to our team today. We will work with you to ensure you are making the most out of your workers’ comp policy. We focus on an array of areas to help improve your use of this policy and to minimize your risks. Not only can we assist you with finding the right workers’ comp policy for your needs, but we can also work with you to create a holistic risk management strategy for your specific business. Reach out today to learn more about working with the team at Brady Risk Management and to request a free quote.
Brady Risk Management is an industry leader and national award winner in the workers’ compensation arena.
Who Needs Workers’ Compensation?
As stated above, almost every single state in our country requires employers to carry workers’ compensation insurance. A few exceptions exist, but even if your state does not require workers’ compensation insurance, it is generally a good idea to purchase a policy regardless. In most states, any business with more than five employees will need to purchase a policy. It is important that you ascertain what the specific requirements are in your state in order to properly follow regulation and avoid penalties. If you are uncertain whether or not your company needs to purchase workers’ comp insurance, we invite you to reach out to our team. We will be happy to work with you to decide if this is the right insurance policy for your company’s specific needs.
What Does Workers’ Compensation Cover?
With workers’ compensation being required for almost all operating businesses in the US your next question might be, “What does workers’ comp insurance cover?” This insurance policy is designed to protect you and your employees in the case of an accident. It provides wage replacement and medical benefits for employees who were injured on the job. In exchange for receiving wage replacement and medical benefits, the employee waives their right to sue their employer. In this way, workers’ compensation is an insurance that offers protection for both employees and employers. Because of this vital shield offered, it is wise for most businesses to invest in a policy.
In many industries, this is particularly important. For example, in the construction industry, risky tasks are undertaken on a daily basis. It is not difficult to predict that these industries have a high level of risk. However, even in an office setting, risks do exist and holding workers’ comp insurance will be part of an overall risk management strategy.
How Much Does Workers’ Compensation Insurance Cost?
Understanding the importance of workers’ compensation insurance is just the start. Once you know that this is a necessary purchase, you will now need to factor the cost into your business’ budget. Unfortunately, there is no easy one-size-fits-all answer to the cost of this policy. This necessary purchase will vary in price greatly from state to state. The best thing you can do is speak with a consultant from our team to get a free quote.
Why You Should Work With Brady Risk Management
Brady Risk Management is an industry leader and national award winner in the workers’’ compensation arena. From the smallest need to the most complex issues, we have a solution for you. Our service model implements technology, intelligence, and a human touch throughout the workers’ compensation continuum. We utilize proprietary software and quality customer service combined with a safety-first approach that puts the employee first. Together, our approach creates a truly connected solution to drive economic results.
Our success in the Workers Compensation Arena can be attributed to these crucial areas:
- Awareness & Education
- Loss Control
- Claims Handling
Unlike traditional workers compensation insurance companies who simply pair you with a policy, we take a unique approach to risk management for your company as a whole. Our goal is to help you minimize risks in your business so that you can better utilize your workers’ comp policy. This allows you to look at the big picture and not just one small component of your risk management strategy. We will work with you to gather every resource you need to better operate your business. From workers compensation to general liability insurance to umbrella policies, we will endeavor to create the ideal risk management program for your specific business.
If you are just now shopping for a workers comp policy or you are hoping to do better than what you currently have, we will be happy to speak with you. Once you contact us, we can work with you to schedule a consultation with our team. From there, we can help you create an intelligent and effective approach to your company’s risk management strategy. Reach out today to learn more and to find out about our new client specials.