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Workers’ Compensation insurance from Haughn & Associates (H&A) helps both employers and employees in the event of a work-related injury or illness. It pays for the employee’s recovery needs as well as lost income that may result from an injury or illness. Workers’ Comp assists with hospital and physician bills, medicine, physical therapy, and other recovery-related expenses.
Workers’ Compensation, a mandatory insurance coverage in Ohio for companies with at least one employee, can represent a significant expense for many businesses, particularly those in high-hazard industries, such as construction, manufacturing, transportation, and warehousing. There are a number of factors contributing to the cost of insurance, including job classifications, rising medical costs, and a company’s loss history (including the frequency and severity of its claims and how its losses compare to other companies within that industry).
At H&A, we offer our clients assistance in helping to reduce exposures, increase safety, and ultimately lower premiums. We can assist you in setting up an accident investigation and safety program to help reduce on-the-job accidents and injuries and get employees back to work as soon as possible. We will also work with you to pinpoint red flags that indicate where your business may be at risk for fraudulent claims.
Our staff will conduct a comprehensive review of your current Workers’ Compensation policy, your experience modification worksheet, payroll audits, and loss-sensitive rating adjustments to locate any potential problems or miscalculations and to see where improvements can be made.
Workers’ Compensation in Ohio must be purchased through the state’s Bureau of Workers Compensation (BWC). If your business employs workers in multiple states, they must be covered under a separate policy obtained from the BWC. In addition, Employers Liability coverage is not covered under a Workers’ Comp policy in Ohio, and should be addressed with what’s called Stop-Gap coverage. This covers lawsuits arising out of employees’ work-related injuries, and is usually done with an endorsement to your General Liability policy. Stop-Gap insurance covers your business’ legal defense costs, settlements, damages, or judgments, and other court costs. We’ll assist you in obtaining both Workers’ Compensation coverage and Stop-Gap insurance.
We also offer Self-Insured Programs and Captive Insurance Programs, and are available to discuss the best solution for your company.
At Haughn & Associates (H&A), our core values and principles of integrity, honesty, dependability, innovation, and collaboration shape who we are and guide us; they ultimately allow our team to provide our clients with high-quality insurance products and an unparalleled level of superior service. Each business, family, and individual is given the personalized attention needed to design the right fit of insurance and risk management protection for your insurance package.
