Important Things To Know About Houston Employers Insurance and Workers Comp!

Will Texas insurance pay for your employee injuries?

Do you realize that you pay $2 to $3 back to Houston business insurance company for every dollar they pay out for your employee injuries? Each claim results in the most expensive financing contract you have in your business.

Do you feel like you pay outrageous premiums? Then you have to pay for almost all of your claims. Stop over paying for workers comp insurance. Request multiple business insurance quotes from Insurance Over Texas.

What are you responsible to pay for under a Texas employers insurance or workers comp policy?

Your responsible to pay for employee injuries through lost dividends and return of premium.
Increased costs because your Experience Modification sky-rockets.
Lost productivity
Reduced morale for the unhurt employees who fill in for the injured employee.
Increased stress for management and staff.

There is only two reasons why you need a Houston business insurance or workers comp policy!

This type of Texas insurance is required by law!
Workers comp spreads the true cost of employee injuries out over time.

Texas workers comp insurance does not pay for employee injuries.

Claims Management Services are usually dreadful.

Now that you know you write the checks for your employees injuries you should realize how critical it is for you to demand to speak to the claims management service.

Claims adjusters are snowed under with too many cases. Your injured employee doesn't get the attention he or she deserves. In spite of this, Texas business insurance companies continue to downsizing as they strive to increase profits.

Add managed care to the mix and your Houston employers insurance claim is often outsourced to a case management company. The adjuster doesn't even know what is happening or how your injured employee is being treated.

You just can't notify the Houston insurance company your employee was injured and expect them to do their job. You must have a proven process in place to minimize the cost of the injury and expedite your injured employers return to work.

You are usually penalized and seem to overpay when the audit police make a mistake on an audit?

Would you allow an IRS agent to conduct an audit without an expert on your side. Of course not. Then, why allow an insurance company auditor to conduct an audit without an expert at your side?

A workers comp audit may actually cost you more money than an IRS audit. You're at a disadvantage from the start.

The insurance company auditor knows the rules, you don't. The audito is not compelled by law to explain the rules, especially if applying a rule that would cause you to pay a lower premium.

Why do auditors works against you?

Your entire payroll is put into the highest classification!

Then, the standard class exceptions are put into the correct cost classification. When someone is not properly moved to the lower cost classification, you pay at the highest rate.

Because your real insurance cost is determined after your policy expires, it is essential the audit is correct. Mis-classifications are common and the system is designed for you to pay for all mistakes.

There are many other errors or omissions that are made in addition to misclassification

How is it that modification factors are often wrong or mismanaged?

Most insurance buyers accept on good faith that their experience modification factor is correct?

You need to know, because most of the time it may be wrong and the insurance company benefits. Even correct, there are simple strategies to lower it Do you know those strategies?

Your dividend may not be what it appears to be.

Did you just buy your workers comp based on that fancy proposal your agent presented or did you really read the contract and the terms of your program? If you don't understand the contract, you're in for a big surprise that could cost you thousands.

Here's what your agent must do to insure you have the best value for your needs!

Claims need to be monitored.
Premium audits must be managed and verified.
Experience modifications must be double-checked for accuracy.
Sub-contractors insurance must be controlled.

Many actions are time sensitive. If you don't know why 6 months after your policy expires is such a critical date, you may be overpaying your insurance.

If you need a specialist in any one area of your insurance program, it is in the management of your insurance that affects your employees the most- workers compensations, medical and disability benefits.