workers compensation insurance

Workers Compensation Insurance

As a Connecticut employer, you assume legal responsibility for your employee’s health and safety on the job. OSHA sets standards for a safe work environment. Connecticut Workers Compensation statutes establish an employer’s legal duty to pay medical bills and lost wages due to on-the-job injuries, regardless of fault. The Workers Compensation Commission is responsible for ensuring employer compliance with the law.

Are all businesses required to purchase workers compensation insurance?

The state of Connecticut requires all employers to cover medical bills and wages incurred due to job-related injuries. That can be accomplished in several ways.

  • The Workers Compensation Commission can certify your company as “self-insured” for Workers Compensation benefits.
  • With state approval, your company may arrange an agreement with employees to establish an alternate “…system of compensation, benefits, and insurance.”
  • You may purchase a Workers Compensation Insurance policy approved by the Commission and issued by an approved company.
Hartford County South Windsor Connecticut Business Insurance

Is self-insurance a viable option?

Self-insurance frees up insurance premiums, but it adds a list of responsibilities your Workers Compensation insurance carrier would ordinarily assume.

  • Establish a reporting procedure
  • Investigate claims
  • Review and pay medical bills
  • Obtain medical reports
  • Pay lost wages
  • Assign disability ratings
  • Schedule hearings and resolve disputes

Before you can become self-insured, the Commission must certify your company as solvent enough to fund potential claims. You operation may require a dedicated assistant or outside contractor to properly handle your claims.

Insurance is a much simpler alternative 

At TM Burgess insurance Agency, our Workers Compensation specialists can set up a policy that relieves your company of most claims-handling responsibilities. We develop an in-depth knowledge of your operations and use the information to properly classify your application. We submit your application to the insurance company that’s most compatible with your business. Once your policy is in place, you will have access to the full support of your insurance company’s Workers Compensation claims unit.

The workers compensation claims process

When you report a comp claim to your insurance company.

  • Your insurance agency assigns a claim number to track the file.
  • A claims representative conducts any necessary investigations, files paperwork, issues medical and wage payments.
  • The company coordinates responses to formal complaints, requests or hearing notices and handles the case to conclusion.
  • As your agent, we monitor claims to make certain they are handled quickly and fairly.
  • We track payments to determine adverse effects on your premium.

What can you do to lower your premiums?

There are several ways for your company to reduce claim costs.

  • Maintain a safe workplace. Comp policies are experience-rated, the fewer paid comp claims you have, the lower your premiums.
  • Monitor claims for evidence of fraud.
  • Have your agent conduct annual policy reviews to identify potential areas for savings.

“I use Vince for my Business Insurance, Workers Comp and Business Auto. He and his son Scott and his office staff always seem to be more than available and happy to take my “ongoing” questions and calls. I am very satisfied with their service!!!”

Brian Cosker EASE, Windsor CT