Workers’ compensation insurance is one of the most critical coverages for any business in New York, New Jersey, and Connecticut. It protects your employees in case of injuries and ensures compliance with state laws. However, many business owners find themselves frustrated and dissatisfied with their workers’ comp policy or their insurance broker.
If you’re feeling stuck in a policy that no longer works for you or dealing with a broker who isn’t meeting your expectations, you’re not alone. Here are 10 common reasons why business owners become unhappy with their workers’ compensation insurance—and how BGES Group, a workers’ comp specialist, can help you find a better solution.
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1. Premiums Keep Going Up with No Explanation
Workers’ compensation rates are affected by several factors, but if your premiums keep rising with little to no explanation from your broker, it’s a red flag. Some brokers fail to proactively manage your policy, missing opportunities to lower your costs.
At BGES Group, we specialize in helping businesses find better pricing and control their costs through expert risk management and aggressive policy negotiation.
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2. Poor Claims Handling Leading to Higher Costs
A single mismanaged claim can lead to increased premiums, a damaged experience modification rate (EMR), and even legal headaches. If your current insurance provider is slow to respond, denies legitimate claims, or doesn’t fight fraudulent ones, it’s time to look elsewhere.
We work with top-tier carriers who prioritize efficient claims management, reducing your costs and keeping your business protected.
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3. Lack of Communication from Your Broker
Many business owners complain that once they sign up for a policy, their broker disappears. If you’re struggling to get a call back, can’t get clear answers, or feel like your broker isn’t advocating for you, that’s a problem.
BGES Group takes a hands-on approach. We stay in touch year-round, reviewing your policy and making proactive recommendations so you’re never left in the dark.
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4. Being Stuck in the Assigned Risk Pool
If your business has been classified as high-risk and placed in the assigned risk pool, you’re likely overpaying for coverage. Many brokers won’t take the time to help businesses transition out of these costly policies.
We have strategies to help businesses qualify for lower-cost plans and move out of the assigned risk pool, saving you thousands of dollars.
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5. Misclassification of Employees Raising Your Costs
Insurance companies categorize employees into different risk classes, and if your employees are misclassified, you could be paying significantly more than necessary. Unfortunately, many brokers fail to audit these classifications, leading to costly mistakes.
At BGES Group, we carefully review your classifications, ensuring you’re not overpaying due to simple errors.
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6. No Help with Safety and Risk Management
Many business owners want to improve workplace safety to reduce claims and lower costs, but their broker offers no guidance. A good workers’ comp specialist should help implement safety programs that reduce injuries and claims.
We offer customized risk management solutions to help lower your workers’ comp expenses and keep your employees safe.
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7. No Support During an Audit
Workers’ comp audits can be stressful, especially if you’re unprepared. Some brokers disappear when audit season rolls around, leaving you scrambling to provide records and potentially facing unexpected costs.
We guide you through the audit process, ensuring everything is accurate and working to minimize your premium adjustments.
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8. Not Enough Carrier Options
Some brokers work with a limited number of insurance carriers, meaning they can’t always find you the best deal. If you feel like your options are limited, you could be missing out on better coverage at a lower price.
At BGES Group, we have access to a wide range of top-tier carriers, giving us the flexibility to find you the best policy at the best rate.
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9. Failure to Fight Fraudulent Claims
Workers’ comp fraud is a significant issue that can drive up costs. If your broker isn’t actively working to prevent and fight fraudulent claims, you’re left paying the price.
We take a proactive approach to fraud prevention, ensuring only legitimate claims are paid and helping you reduce unnecessary expenses.
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10. No Personalized Service or Industry Expertise
Every business has unique workers’ compensation needs. If your broker takes a one-size-fits-all approach, they’re likely missing key ways to save you money and protect your business.
At BGES Group, we specialize in workers’ compensation. We tailor policies specifically to your industry and business size, ensuring you have the best possible coverage.
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Unhappy with Your Workers’ Comp Insurance? Let BGES Group Help!
If you’re dealing with any of these issues, it’s time to find a better solution. BGES Group specializes in workers’ compensation insurance, helping business owners in New York, New Jersey, and Connecticut find the best policies at the most competitive rates.
We take a hands-on, proactive approach, ensuring you receive better pricing, superior claims management, and expert risk control strategies. Don’t let an outdated policy or an unresponsive broker cost you thousands of dollars.
Contact BGES Group Today!
If you’re ready to explore better options for your workers’ compensation insurance, reach out to us today.
• Contact: Gary Wallach
• Phone: 914-806-5853
• Email: bgesgroup@gmail.com
• Website: www.bgesgroup.com
Don’t settle for poor service or overpriced coverage. Call BGES Group today and let us help you find a better workers’ comp solution!