Workers’ Compensation insurance has two main parts:
This coverage provides benefits to employees for an accidental injury or disease arising out of and in the course of employment. Benefits include compensation for medical costs and lost wages. In exchange, the injured employee waives the common law right to sue the employer. Negligence or fault is generally not at issue.
This covers damages for which an employer becomes legally obligated to pay to a third party as a result of a claim or suit brought by the third party to recover damages claimed against the third party as a result of injury to the employer’s employee.
How DSP Can Help
- Risk Analysis – annually to evaluate:
- Job classifications and update payrolls
- Operational changes
- Recent losses
- Market Evaluation of contracted carriers and specialty markets capable of handling the required exposures, coverages, territories and policy forms.
- Risk Management Plan development to tailor coverage, forms and Safety Initiatives to meet client workers’ compensation needs.
- Safety Initiatives provided by our in-house safety engineer to include job hazard analysis, job-site training and written safety program development.
- Contract Review specialists make sure the insurance program appropriately covers and adheres to all construction and operational contracts with particular attention to requests for waivers of subrogation.
- Claims Management specialists assist clients with reporting, and managing workers’ compensation claims with special attention to medical reviews and return to work opportunities.
- Renewal Risk Analysis 90 to 120 days prior to renewal we meet with clients to begin a new risk analysis.
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