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Pricing the Workers' Compensation Account
Find out how underwriters determine your insureds' premium.
 Although a significant amount of an underwriter’s time is spent on risk assessment, pricing the workers’ compensation account is a crucial part of the underwriting process. In establishing premium, an underwriter must weigh the commensurate risk being transferred to the insurance company against the price considerations of the insured. If the premium does not adequately reflect the inherent risks, the carrier could lose money, but if the premium is too high, the insured may place their business elsewhere. Determining a premium that meets the needs of both parties can be a delicate balancing act. [ more ]
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Better Safety Training at Your Fingertips
Make safety training more effective and convenient.
Safety training takes time, and with today’s busy schedules, time is a precious commodity. Many employers cut safety training short so that production won’t suffer. But doesn’t production suffer when an employee is injured? If the employee is seriously injured, production may stop for quite a while. It is more cost effective to train workers to do the job safely from the start than it is to lose production due to an injury and then train them. [ more ]
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Ask Jan
Agency resource Jan Kearbey tackles your toughest agency management questions.
Dear Jan,
I’m part of a small agency and I’ve just been asked to be the agency’s first supervisor over the customer service representatives so the owner can spend more time selling. Unfortunately, I don’t have any supervisory training and probably won’t have an opportunity to get any for quite some time. Do you have any tips you could share to get me started so I don’t make too many mistakes?
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