Songer Insurance Agency, Inc. Blog

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Workers Compensation for Businesses

If you own a small business and are in the market or workers compensation here are a few things we will evaluate when determining the risk of your business. 

Exposure Review; identifying hazardous conditions due to:
•    Process or method of operation 
•    Use of equipment 
•    Use of materials and 
•    People that manage and perform the operation
Past Performance; examining the following past performance data: 
•    Loss ratio 
•    Frequency of loss ratio: 
•    Recent types of loss 
•    Prior causes of loss and 
•    Amount of individual loss 
Controls review; Review past, future or proposed controls that reduce or eliminate exposure to loss. This is due to the risks: 
•    Identifiable hazards 
•    Past performance 
•    Payroll trends and 
•    Operational changes that may increase or decrease exposure to loss 
Evaluations; Make a judgment call that the risk is: 
•    Above average 
•    Average or 
•    Below average 
Price determination; Determine the proper pricing program

If you own a small, medium or large size business we can help you manage and create processes to improve on all of the metrics involved with your worker's compensation. We have been successful in helping all size businesses reduce workers compensation cost while also improving workers safety. We are located in Beckley West Virginia at 2955 Robert C. Byrd Dr. You can call us at 304-252-6568.