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Workers’ Compensation Insurance
Workers’ Compensation insurance is mandatory in most states, providing benefits for work-related injuries and illnesses. Benefits to workers may include payment for medical expenses, lost wages up to a certain amount, and rehabilitation services.
Workers’ Comp is a significant business expense, with a number of factors contributing to the cost of insurance, including rising medical costs, a firm’s loss history and how these losses compare to other comparable businesses within its sector, claims frequency and severity, and fraudulent claims, among other issues. Our objective at Infinite Risk Management is to provide you with coverage solutions and strategies to help you manage your loss experience, improve employee return-to-work timeframes, increase on-the-job safety, and optimize claims handling.
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The staff at Infinite will analyze your business to determine exactly what operations are performed and the specific activities of each group of employees. This helps to ensure your Workers’ Comp policy accurately classifies your workers based on their job descriptions. We will also review your current policy, experience modification worksheet, payroll audits, and loss-sensitive rating adjustments to see where there may be any problems or miscalculations. If you disagree with your end-of-the-year audit, our in-house audit reps will assist you in disputing its results and achieving an optimum resolution.
Additionally, our in-house claims management helps keep costs down and your experience mod from going up. We will help you file a claim, assist you in disputing fraudulent claims, and manage claims for the most desirable outcome possible.
We work with attorneys from the best Workers’ Comp defense law firms in the country to assist with defending litigated claims.
Our clients also have access to free payroll processing for up to one year (six months guaranteed) and 50% off payroll processing through Hourly thereafter.
Our Workers’ Comp Solutions
Our Workers’ Comp Solutions
We can provide guaranteed cost and deductible plans, depending on your needs. Guaranteed cost plans are the most common, with clients paying a fixed premium for the policy term based on their exposure base, regardless of the number and amount of losses that occur during this time. The basic guaranteed-cost program premium is computed by multiplying the rate by $100 of the employer’s payroll. The policy period’s final Workers’ Compensation bill is issued following the premium audit for that policy year. Once the policy is issued, the rates per $100 of payroll are typically not subject to modification during the policy period. You know how much you will pay for coverage during the current policy term.
Deductible Plans
A deductible plan allows you to retain a portion of each loss through a substantial deductible and to transfer losses in excess of that deductible to the insurance company. Although a deductible plan enables you to pay a reduced premium for retaining a portion of each loss, it’s not for everyone. Certain factors should be considered, including expected losses, any planned operational changes, insurance carrier collateral requirements, and the business’s financial strength. Our team will review all of this with you.
We Help Shape Your Risk Readiness
At Infinite Risk, we lean into risk, knowing it’s an integral part of success and growth. We help clients manage risk through customized solutions, education, and insights so they are well prepared as they head into tomorrow. We are ready to do the same for you.
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