Workers’ Comp Insights from Summit
Workers’ comp insurance costs are influenced by many factors, yet most of the strategies that truly make a dent share a common thread: they shape your experience modification factor (mod). The mod becomes the scoreboard for how well your safety, claims, and return to work efforts are delivering. And you don’t need a complex equation to explain how it works to clients. We’ve done it for you.
When it comes to agency growth, new business often steals the spotlight. But ask any seasoned insurance professional, and they’ll tell you: Retention is what keeps the lights on.
Premium audit might not be the first subject you raise with a workers’ comp client—but it can be one of the most powerful and memorable tools when managed by the right carrier.
Your clients don’t just want coverage; they want control. They want to understand how their workers’ compensation dollars are being spent and options that align with their long-term cost goals and risk tolerance.
Most workers’ comp insurance companies outsource at least some services. Outsourcing typically reduces the quality of the customer experience.
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Workers’ comp insurance costs are influenced by many factors, yet most of the strategies that truly make a dent share a common thread: they shape your experience modification factor (mod).…
More than one quarter of Summit’s employees hold field roles, living and working in the same communities as our agents and policyholders. When you or your clients need workers’ comp…
For almost 50 years, Summit has helped independent insurance agencies grow their workers’ compensation business. Now, serving more than 7,000 independent agents and 31,000 policyholders across the South, Midwest, and…
The OSHA 300A is a summary form used by employers to record and report work-related injuries and illnesses and is part of OSHA’s recordkeeping requirements.
When it comes to agency growth, new business often steals the spotlight. But ask any seasoned insurance professional, and they’ll tell you: Retention is what keeps the lights on.
Premium audit might not be the first subject you raise with a workers’ comp client—but it can be one of the most powerful and memorable tools when managed by the…
Your clients don’t just want coverage; they want control. They want to understand how their workers’ compensation dollars are being spent and options that align with their long-term cost goals…- Most workers’ comp insurance companies outsource at least some services. Outsourcing typically reduces the quality of the customer experience.
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…
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…
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.
