Workers’ Comp Insights from Summit
Are you considering all the ways to lower your business’s workers’ comp costs? We’ve provided a quick checklist of a few key areas to focus on.
RetailFirst Insurance Group® announced that AM Best has revised the outlooks of its insurers, RetailFirst® Insurance Company and BusinessFirst Insurance Company®, from stable to positive. The financial strength rating of A- (Excellent) has also been affirmed.- In this Q&A with Summit sales representative Karen Jackson, learn how Karen and colleagues apply their workers’ comp expertise to help insurance agencies.
- In this Q&A with Summit sales representative Karen Jackson, learn how Karen and colleagues apply their workers’ comp expertise to help insurance agencies.
Summit claims data paints a clear picture of how prevalent injuries are among employees who are new to a position. A surprising 36% of 2022 claims reported to us resulted from injuries to workers in their first six months of employment with a business.
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- RetailFirst Insurance Group® announced that AM Best has revised the outlooks of its insurers, RetailFirst® Insurance Company and BusinessFirst Insurance Company®, from stable to positive. The financial strength rating of A- (Excellent) has also been affirmed.
- Are you considering all the ways to lower your business’s workers’ comp costs? We’ve provided a quick checklist of a few key areas to focus on.
- In this Q&A with Summit sales representative Karen Jackson, learn how Karen and colleagues apply their workers’ comp expertise to help insurance agencies.
- A group captive is a form of self-insurance and risk sharing. A collection of businesses pool money in an insurance entity to spread claim loss risk among the group members.
- Summit claims data paints a clear picture of how prevalent injuries are among employees who are new to a position. A surprising 36% of 2022 claims reported to us resulted from injuries to workers in their first six months of employment with a business.
Summit’s Underwriting department evaluates the risk associated with taking on new policyholders and renewing existing policies. When you submit a quote request to Summit, it’s more than just another submission.- If you’ve had much involvement in your business’s workers’ comp policy, you’re probably familiar with this term: experience modification factor or mod.
- Working behind the scenes of Summit’s success, our Actuarial department provides data and analysis to ensure we meet our obligations to policyholders—keeping our promise to pay claims—while achieving sustainable growth.
Approximately 15% of employees are lone workers—those who perform their jobs without supervision or someone else nearby (according to National Safety Council).
When an employee experiences a work injury, it can be followed by feelings of fear and uncertainty. The best way to avoid this is to educate your employees early—before an injury happens—so they know what to expect in the claims and medical process. And in the unfortunate event that an injury does occur, the way to build trust is to keep your employee in the loop with open lines of communication.
