What to do When an Employee Becomes Injured

midwestern logoThere are a variety of incidents that can constitute a Workers’ Compensation Insurance claim. While businesses of all types do their best to prevent against injuries, accidents happen. Therefore, securing the right insurance policy is a must. Further, here is how employers can navigate the incident when an accident happens to increase efficiency and get the employee back to work as soon as possible.

According to an article on Business.com, businesses should follow certain guidelines when formulating a Workers’ Comp plan. They are as follows:

  1. Take quick action when it comes to injuries. If the injury is life-threatening or requires emergency medical attention, immediately call 911.  Failing to seek immediate medical assistance could cause the business to become entangled in a lawsuit.
  2. Employers are required to file a claim with the insurance company immediately. Failing to do so can result in heftier fines, delayed treatment, and increased risk for workers’ compensation fraud. In fact, according to the National Insurance Crime Bureau, workers’ Comp scams cost businesses $7.2 million a year. Therefore, it pays to report the incident immediately.
  3. Never prevent an employee from filing a claim. Instead, employers should follow up with the injured employee, communicate with their treating physicians, and implement their return to work programs.
  4. Update claim paperwork during the process of waiting to hear back from the claims administrator. As it can take up to 90 days for approval or denial, ensure the employee’s health and recovery are processed and updated and stay up to date with their compensation.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM

Creating an Effective Return to Work Program

As discussed in previous blog posts, it is the employers’ sole responsibility to carry workers’ compensation coverage for their employees. While handling common employee errors in workers’ compensation cases is critical, so is establishing an effective return to work program. By being proactive and implementing this coverage before an employee is injured, business owners’ expenses and workers’ compensation liability can be reduced. Here are some steps to take toward a sound return to work program.

  • Assign a dedicated member of the team to be responsible for implementing the program and enforcing its rules, says the National Association of Wholesaler-Distributors (NAW).
  • Ensure the program is reflective of your clients’ desire to have its employees return quickly. The policy should be committed to bringing employees back immediately and business owners need to ensure that each employee participates in this program in order for it to be effective.
  • Educate owners and employees about the importance of such programs and how it relates to productivity, cost savings, and improved workplace morale.
  • Seek medical attention immediately after an injury and maintain contact with the employee throughout his or her recovery.
  • Once cleared by their doctor, employees should be encouraged to return to work as soon as possible.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

At K2 Insurance Services, LLC, we are dedicated to creating a leading underwriting and distribution franchise both in the standard and specialty program insurance markets. K2 was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM.

Workers’ Compensation Claims Handling: Common Employer Errors

When it comes to controlling workers’ compensation claims, business owners and company directors must execute all necessary actions in a prompt and correct manner. This will not only help companies to control costs, but is also an essential part of a strong risk management program. How can employers best handle workers’ compensation claims? Avoiding the common employer errors listed below, highlighted by a recent HNI article, is a good start.

Reporting the Claim Too Late

When a workplace injury occurs, memories are fresh and evidence is preserved the sooner the injury is reported. Claims representatives are required to work with a medical provider to keep their injured employee working in a light duty capacity, and this cannot be done without the timely reporting of a claim.

Not Investigating the Injury Right When it Occurs

The right person needs to be aware of an employee injury. In almost all cases, this is going to be the employees’ immediate supervisor; who knows all the details of the workers job and will be the best person to determine if the accident or injury was a result of a hazardous work environment or the workers’ own negligence. This investigation should also be done right when the injury occurs so the supervisor can see the status of the work area.

Not Offering a Return-To-Work Program

A return to work program helps to reduce or potentially even eliminate lost-time claims by brining injured workers back to work sooner than they would have been able to return otherwise. This has many benefits; it saves the company time and money, and helps the worker feel like a valued member of the team who cannot be replaced.

The above mentioned errors are just a few common mistakes employers make when it comes to workers’ compensation claims. Other mistakes include not securing a medical release at the time of the injury, hiring unqualified employees and/or not conducting proper safety training, and not having a general understanding of workers’ compensation in general.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.
K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM

Helping Employers Understand Workers Comp Awards

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In last month’s blog post, we went over some details that employers should be aware of when it comes to Workers’ Compensation coverage, the most important factor being that your clients are 100% responsible for providing this type of coverage to their workers. When it comes to explaining how Workers Compensation Awards work, however, what should your clients tell their employees? Much of how their claim is handled has little to do with their employer and much more to do with the state in which they reside.

How so? A recent infographic published by ProPublica illustrated how Workers’ Compensation is surprisingly unequal between states. They referred to a recent story of two men who live on either side of the Alabama-Georgia state line. These two men had extremely similar jobs, roles, and injuries, yet the worker who lived and worked in Alabama received $45,000 for the loss of his arm, while the man in Georgia received an award of over $740,000 after losing his arm. Even the two men’s ages were fairly similar, one being 25 and one being 27. So why the discrepancy?

Nearly every state has what’s known as a “schedule of benefits” that divides up a person’s body parts on a chart. Employees are then awarded a portion of their wages up to the maximum allowed in their state, for the specified number of weeks assigned to each body. While logically many people feel that if you lose a limb on the job, the cost should be the same throughout the country regardless, the fact is that workers in different states are compensated in different ways.

Some employers are quick to assume that the real problem is that the cost of contributing to Workers’ Compensation Insurance Programs are eating at their profits too much. However, Workers’ Comp premiums are reportedly at historic lows, despite increases in health care costs. Curious as to what employers in your state are paying for Workers’ Compensation coverage? Look up your state’s results here.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM

MIA Offers Specialized Insurance Programs

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Our last post focused on the importance of developing a niche market, or rather a group of potential customers who share common traits. MGAs must stand out from their competitors, and by only offering general business lines or personal lines, they are not always able to do so. Midwestern Insurance Alliance (MIA) is an example of an MGA that offers products to a niche market; by being involved in underwriting and claims management of Workers’ Compensation Business for over 30 years.

Serving as a mandatory state-based social insurance program, Workers’ Compensation provides employees with financial protection against a disability or death that occurs while at work, or resulting from their work duties. Coverage is elective in some states, however most states require that business owners accept Workers’ Compensation Law provisions and provide the specified benefits.

Workers’ Compensation coverage includes four different types of benefits; medical, disability, survivor’s, and rehabilitation. Without these coverages, employees would be more likely to take legal action against their employers if they’ve been injured or made ill while on the job. Before Workers’ Compensation was an available insurance coverage, this system that made it difficult for employees to obtain compensation for such injuries, however exposed their employers to financially devastating financial penalties under tort law.

What should employers know about Workers’ Compensation coverage? The following is a brief overview of the factors, offered by the American Institute of CPAs, your clients should be aware of:

  • They are 100% responsible for providing the coverage to their employees.
  • Their state mandates how much coverage they will need to buy, which employee classifications must be covered, and what percentage of an employee’s salary the employer will pay if the employee misses work due to a job-related injury.
  • All employees, volunteers, and vendors must be covered; each state excludes certain employee classifications.
  • Select off-site accidents are covered by Workers’ Compensation policies.
  • Injured employees have the right to file a claim for their benefits.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM