One of the biggest concerns of
many employers today is how to effectively and affordably ensure the safety of
their employees. Worker’s Compensation is most expensive component of many
companies’ insurance policies. In addition, most companies have to face a
multitude of costs in addition to worker’s compensation. These costs may include
safety plans, employee training, and the indirect costs associated with
lost-time accidents. We work with employers to not only design an effective
worker’s compensation policy, but also to reduce costs across the board. Below
are some examples of how we can help companies reduce these costs.
National Federation of
Independent Businesses Program - As an agent
for Employers Insurance, Summit has access to the specialty NFIB program which
provides a 5% discount to member companies. For more information on the program,
visit the Employers' website through the logo below.
Pay-As-You-Go Workers Compensation -
Summit's in-house payroll service provides our
insurance agents access to the top pay as you go workers comp programs in the
country. Pay as you go offers clients the ability to find affordable coverage
that matches their premium payments directly to the payroll expenses, avoid high
deposits, and eliminate timely audits at the end of the year.
Drug-Free Workplace Program – Our
carriers give discounts for a drug-free program approved by the state. We
can work with you to set up a new program, revise an existing one, and assist
you through the certification process.
Experience Modification Consulting –
Many employers are paying more for their insurance than they need to due to high
experience mods. We have associates trained specifically to help you reduce
you modification factor and receive discounts on your worker’s compensation
Safety Plans – On average, a
lost-time accident will cost you in increased premiums an amount equal
to the cost of the accident. In addition, indirect costs such as overtime,
training, and lost productivity can amount to 4-5 times the direct cost of
the accident. We offer specialized safety plans and training material to
qualified clients to help keep accidents to a minimum.
Claims Review – One of the biggest
factors in trying to place your insurance with the best carriers, is a favorable
loss ratio and low experience modification factor. Both can be influenced
heavily by an effective claims review process. We work with you to make sure
claims are handled in a timely manner and that reserves are reduced to the
lowest level possible.
We would love to show you how we
can save your company money on your Workers Compensation program. If you would
like to learn more, please contact us or follow the
link below to get a quote.