Florida Workers’ Compensation Insurance Policy Coverage for Companies Dropped Due to Loss Claims
For companies that operate in Florida, workers’ compensation is typically needed to operate in the state without facing severe legal and financial repercussions. However, if your company was recently dropped due to loss claims, you may be concerned about whether another insurance company will provide you with workers’ comp benefits. If your company was dropped due to loss claims, you should consult with an experienced Florida workers’ comp insurance provider for companies dropped because of loss claims.
At NPN Brokers, we are dedicated to working with Florida companies that need to quickly obtain workers; compensation insurance in order to keep their business operating without any issues. We will work diligently to ensure that you receive affordable workers’ comp insurance that satisfies your specific goals. To schedule an appointment to discuss your workers’ compensation insurance options, contact NPN Brokers at (866) 340-9120. You can also contact us online.
Reasons a Florida Workers’ Comp Insurance Provider May Drop a Company for Loss Claims
Workers’ compensation insurance is used as a safety net for employees that are injured while performing work-related tasks. In the event of an accident, an injured worker can make a workers’ comp claim with their employer to receive benefits for their injuries and the amount of time they spend recovering away from work. When a workers’ comp claim is filed, the injured worker will have to follow the instructions of the insurance company to receive compensation. For example, an injured worker may have to visit a doctor chosen by the insurance company.
When a company selects a workers’ compensation insurance policy, they will have to agree on the terms of the policy. When examining the terms of the policy, you may notice that the insurance company may reserve certain methods to terminate coverage for a company.
One reason a workers’ comp insurance provider may choose to drop a company is due to loss claims. Specifically, if a company frequently files loss claims, it may become extremely expensive to continue to insure the company. As a result, an insurance company may use specific terms of the contract to release a company from the policy. It is important to note that there are other reasons that may be used to release a company from a workers’ compensation insurance policy.
If your workers’ comp insurance provider released you from your plan, it would be wise to seek a new policy as soon as possible. To learn more about the workers’ compensation insurance plans after being dropped due to loss claims, you should contact an experienced Florida workers’ compensation insurance broker.
Obtaining Florida Workers’ Compensation Insurance After Being Dropped Due to Loss Claims
If your workers’ compensation insurance was dropped due to an insurance company alleging you have too many loss claims, you should work to replace your coverage as soon as possible. As you likely know, Florida requires companies to carry workers’ compensation insurance once a company has reached a certain threshold of employees.
Typically, a company will have to obtain workers’ compensation insurance after hiring four or more employees. Note, however, that this number is subject to change depending on the industry you work in and the business formation of the company. For example, a company that primarily does agricultural work may not have to possess workers’ comp insurance until they hire at least 12 people.
NPN Brokers understands the stress associated with losing your workers’ compensation coverage, and we are here to help you seek the workers’ compensation plan that satisfies the unique needs of your company.
When pursuing workers’ compensation insurance, the owner of a company may worry that they will be unable to find an affordable plan that aligns with their needs. Fortunately, NPN Brokers has great experience with finding workers’ comp policies for a wide variety of companies. Our first step would be to get you a quote that is within your price range. We recognize that finding the right quote can take a significant amount of time, and we can help alleviate your concerns.
Our experienced brokers will only link you with insurance providers that do not require troublesome contracts and tedious audits. Additionally, we work with high-risk industries to ensure that an appropriate policy is found for companies that have difficulty finding suitable workers’ comp insurance.
Losing your workers’ comp insurance due to loss claims does not have to be a significant roadblock for your company. We will work diligently to find you a workers’ comp insurance plan so that you can get back to building your business. Contact our firm as soon as possible to discuss your workers’ comp insurance plan.
Let Our Experienced Florida Workers’ Comp Insurance Brokers Find You a New Policy
If you need help with obtaining workers’ compensation insurance for your business after being dropped due to loss claims, you should speak with an experienced Florida workers’ compensation insurance broker as soon as possible. Our team of insurance brokers has worked with businesses in various sectors, and we are committed to finding a workers’ compensation plan that works for your company. To schedule a consultation to discuss your Florida workers’ compensation insurance plan, contact NPN Brokers at (866) 340-9120. Our online submission form can also be used to schedule an appointment.
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