As a business owner you are required by most state laws to provide workers compensation insurance coverage for your employees. But what happens if there is no insurance company that will write your workers compensation coverage? What if your workers compensation insurance application is turned down by at least three insurance companies? Most states have an “assigned risk pool” to provide workmen’s compensation coverage to businesses that aren’t able to find a workmen’s compensation company willing to offer them a quote. If you have been rejected by at least three workman’s compensation companies and can’t find coverage you are likely eligible to obtain coverage through your state assigned risk pool.

“Assigned risk pool worker’s compensation coverage is expensive. The rates are often higher than what you would pay to most insurance companies...”

Assigned risk pool worker’s compensation coverage is expensive. The rates are often higher than what you would pay to most insurance companies and the insurance company offering the assigned risk pool coverage typically has no authority to discount your premiums even if you have a good loss history experience.

Being in your state’s assigned risk pool for worker’s compensation insurance is frustrating and expensive. It can seem like there’s no way out.

If you’re saddled with high premiums because you’re in a high-risk business, you have high experience modifications or your company is too new or too small, you need an insurance broker who understands these problems and has a proven track record for finding reasonably priced worker’s compensation insurance, even in the toughest situations.

At Spiris, we’re up to the task. Because we specialize in hard-to-place worker’s compensation insurance, we’re continually working with a number of companies who write worker’s compensation insurance for a variety of business types. Once we know your business and your situation, we aggressively market you until we find a company that understands your type of business and likes to write insurance for it.

We won’t waste your time. Based on our experience in placing worker’s compensation insurance, we can usually let you know after the first phone call if we can help get you out of the assigned risk pool and lower your premiums. We’ve been through the process often enough that we can ask the right questions to uncover potential deal killers in your operations. If we don’t think it can be done, we’ll tell you up front on that first phone call.

Most likely, though, we can recommend aggressive approaches to risk management that will fix your red-flag issues and make your company more appealing to underwriters.

If you’re frustrated with the premiums you’re paying for worker’s compensation insurance, and other agents haven’t been able to help, talk to Spiris. We have a track record of helping folks with very real issues. It’s what we like to do, and it shows. Click here and a Spiris worker’s compensation specialist will be in touch to discuss your situation.