Iowa Workers Compensation

Practically any business that has employees is required to have Workers Compensation coverage. This protection is required by law in order to take care of a company's statutory obligation to any employees that becomes ill or injured while performing duties in the workplace.

So, how do you manage or control these insurance costs? In many respects, this is the only insurance over which you have some control. That being said, it can be complicated and confusing. Employers oftentimes assume their premium, audit reports and experience modification are accurate.

Following are a few errors common to Workers Comp:

• Not knowing your experience modification factor or how to compute it.
• Not knowing how important your experience modification factor is to the bid process
• Misclassified employees in policy categories
• Injured employees being off the job for extended periods of time
• Work flow disruptions and lower productivity when an employee is off the job
• Not returning the employee to work in the right position
• Delays in reporting injuries to agents and insurance companies
• Management and employees not understanding how the system works and employees are paid while off work
• Slow response by claims adjusters, medical providers and employers when an injury occurs
  

Knapp Tedesco Insurance is a Certified Work Comp Advisor. We can help you manage your insurance process. After all, as an employer, you pay for your employee's injuries. And, the more injuries incurred by your employees, the more your premiums increase, your experience modification increases and you lose the opportunity to bid on jobs.

Our insurance specialists can assist you in the following manner:

• Locate mistakes in your Experience Modification Factor and make certain it is corrected.
• If you're not certain exactly how your Experience Modification Factor is determined, we will walk you through the process.
• Verify audit results and make sure there are no mistakes or errors.
• Obtain refunds from audits not correctly completed.
• Help employers with their hiring process.
• Establish safety programs that will alleviate risk and potentially injuries on the job
• Assist the employer and insurance company in discussions with case management firms or physicians to get the employee back to work or the injury case closed.
• Train supervisors on how to manage Workers Compensation situations.
• Help employers minimize the risk of losing an employee following an injury
• Demonstrate the importance of managing insurance premiums to reduce costs as opposed to consistently re-quoting your policy
  

Knapp Tedesco Insurance will consistently serve as a trusted advisor to employers and their Iowa Workmans Comp programs.

Isn't it time to take control of your insurance? Call our certified insurance advisors today.

The risks of failing to secure an appropriate Workers Comp policy can be significant. It does not matter whether you run a small office, a medium-sized business or a large corporation. Nor does it matter whether you employ one individual or several.

Regardless of the size and type of business you operate, it is crucial that you are aware that if one of those workers is injured or becomes ill while on the job, you may be liable. If your organization is small, such an incident can impact your business in a significant manner.

Work Comp is necessary to cover expenses that result from a variety of situations, including:

• Medical conditions that arise due to repetitive motion, such as carpel tunnel
• Death
• Medical conditions that arise due to exposure to chemicals or harmful substances
• Disease, such as emphysema
• Injury, such as falls, slips or heavy objects falling on workers
• Loss of limbs
• Medical treatments made necessary by a work-related illness or injury
• Mental or physical stress
• Rehabilitation required following a work-related illness or injury
• Wages lost by an ill or injured employee
• Liability coverage for lawsuits brought on by ill or injured employees
  

For example, if one of your employees is injured while performing a work related task, your policy will cover lost wages, hospitalization, medical treatments and rehabilitation. If an employee suffers a temporary or permanent disability, your coverage should sufficiently take care of the related expenses. You are also covered should the illness or injury prove to be fatal.

Workmans Comp provides you with a safety net for both you as well as those under your employment. With the right policy through Knapp Tedesco Insurance, you will be protected against problems that arise from the illness or injury. You are covered even if the symptoms do not show up for a number of years.

As an employer, you are responsible for the welfare and safety of those who work for your company. This means that you should provide protection from both mental and physical injuries that may occur during such employment.

You may think that you will be able to get by without insurance if you have an accident policy, limited benefit health policy, employer indemnification or non-subscription agreement. However, with products such as these you simply do not get the same benefits that you will get from a Workers Comp policy. In fact, most of these products feature a compensation ceiling and limited liability.

In many cases where an individual is injured on the job, they are awarded punitive damages by the court that can cost the company millions of dollars. No matter how successful your business may be, you cannot afford to take the chance of being caught up in such a case. Without the proper coverage, your company will have to pay for the compensation, even if it means you have to file bankruptcy or sell off your business.

Do not take the chance and risk losing everything for which you have worked so hard. Protecting your business with a sound policy is an important and responsible choice that you can make.

It will be too late when a worker suffers a back injury on your job, an employ slips into a coma after working on an incredibly hot day or an employee falls and breaks a leg. A single claim can cost your company a lot.

If you are found to be negligent in any way, the full financial responsibility for the loss falls on you. This is the case even if the injury occurred due to the employee's own negligent behavior.

When your business is covered by a Work Comp policy, all of the financial responsibility for any job-related illnesses or injuries is transferred to your insurance provider. Workers who become ill or injured while working for you will be appropriately compensated according to your policy's schedule of benefits based on the injury or illness type and severity.

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