workers’ compensation insurance broker

Connecting workers’ compensation insurance agencies with employers that need them is becoming more significant as a challenge. Changes in regulations, even those still yet to pass through the lawmaking process, prompt reactions from agencies to underwrite the benefits offered to clients in order to retain profits. With the workers’ comp market tightening, clients can struggle to obtain the crucial coverage they need for their employees.

As an employer looking for insurance, the best bet is to find a workers’ compensation insurance broker to rely on. While insurance agents represent providers – either as captive agents under a single agency or independent agents working for multiple insurers – brokers represent the client in the relationship. They approach an insurer and its agents on behalf of the client seeking insurance, handling the necessary paperwork to obtain quotes or policies. Brokers don’t have the authority to bind coverage, but they can obtain it from the insurer in question. They often specialize in particular forms of coverage, as well.

Though they only represent one half of the liaison between insurer and insured, finding a good workers’ compensation insurance broker that’s experienced in obtaining coverage for your particular circumstances can be as important as finding an agency that can provide the coverage you need. As an employer, this should be an early goal of yours if you in the market for insurance.