[youtube https://www.youtube.com/watch?v=Esrm3PbDB6A&w=420&h=315]
So what is the first secret we are going to talk about today?  Well this is going to come as a surprise to many of you.  Insurance companies really don’t pay for Workers Compensation claims, YOU DO!  How is this possible?  You see Workers Compensation insurance acts almost like a tax on your injuries.   What employers often times do not understand, particularly on their smaller claims is that they may be paying as much as four times the amount of the claim directly back to the insurance carrier in premium expense which does not take into account the indirect expenses tied to any claim.  The way the insurance industry does this is through the Experience Modification and in some states the ARAP.  Experience Modification is the measure of the frequency of any given injury and the ARAP which is the assigned risk adjustment program, also known as the all risk adjustment program being the measure of the severity of any given injury.  So what does this mean for you as an employer?  It means that there is a lot of value in having FBinsure’s trained Workers Compensation Certified Representatives helping you to manage the claim and injury process.

For more information on how you can improve your process and ultimately your bottom line, give our specialists a call at 1-800-734-6604 for a free discussion on whether or not you qualify for our Risk Reduction program.

SHARE THIS POST

Related Posts

Best Practices for Workplace Safety

Best Practices for Workplace Safety

Labor Day is a time to celebrate the contributions of workers to our society, but it is also a time to focus on safety in the workplace. Whether you work in construction, manufacturing, or any other industry, it is important to take steps to prevent accidents and injuries on the job. By taking these simple steps, you can help ensure a safe and happy Labor Day for yourself and your colleagues.

read more
5 Tips for the First-Time Car Buyer

5 Tips for the First-Time Car Buyer

Buying a car is a major purchase and can be a daunting task, especially for first-time buyers like students going away to school. However, with some research and preparation, the process can be much easier and even enjoyable. Here are some tips to help you find the perfect car for your needs and budget:

read more