Fact about Travelers workers comp insurance

Workers compensation insurance is the mandatory for a business that have the employee. The regulation is under the state law. When a small business starts to hire for the employees, it means its business need to notice about the workers compensation. Then, Travelers workers comp insurance may come as the solution in managing its case. Here, we serve you the fact about workers compensation by Travelers.

What is worker comp insurance?

Workers compensation insurance means the insurance provided for the employees that get injured while working and the compensation while they can return work. It can covers illness, loss of limbs, occupational disease, medical care, rehabilitation after getting treated, lost wage, and death. Workers compensation is protected by the legal law. It means when there is any company that does not insure its company, it against the law. Court is the final answer at all.

What is Travelers worker comp insurance?

Travelers worker comp insurance is a product of insurance that released by Travelers insurance. It is a leading insurance company in U.S and has expanded to the international service. The headquarter company is in U.S precisely in New York City. It was founded in 1853 as St. Paul Fire and Marine as the original name. Now, the CEO is Alan D. Schnitzer and the executive chairman is John Dasburg. Now, the subsidiaries of this company reach approximately 14,000 agents or even brokers with employees reach 30,000.

At first, the coverage of this company only covers the insurance for train and steamboat travelers. But, as it grows fast, any kind of policy insurance are developed. Now there are three main segments including personal insurance, business insurance, and specialty risk insurance. For Travelers workers compensation insurance is the part from the business insurance. All the segments are available after the company merges to other company. Thus, the complete services come to facilitate the policyholders.

Claim Review of Travelers workers compensation insurance

the rating of claim reporting and processing of travelers workers comp insurance get satisfied rating shown by 3 stars out of 5. It shows that the company gives the appropriate service to the policyholders even there are any unsatisfied ones. It is normally happen that the insurance company has its pros and cons. Many of the policyholders still renew their policy by the percentage 75%. The claim can be filed through the website. The information and guidance is complete. Besides website, the customer care by phone is also available. You can file the claim through the phone.

Kind of covered injuries and the treatment

There are several injuries that can be covered by the Travelers workers comp insurance. These are any of accident that happens while the employees are working. For instance, when the employees got the road accident when he is in job need, the insurance will protect him for any medical care. Then, when there are any of natural disasters, the injured employees have to get the medical insurance. Last, the death insurance is for the employees that are killed because of working accident. The treatments that will be received by the injured employees include surgery, doctor visit, prescription of drugs, rehabilitation, and other treatments.

Kinds of compensation of Travelers workers compensation insurance

There are three kind of compensation provided by Travelers workers comp insurance. These include the short-term compensation, long-term compensation, and death compensation. Short-term compensation is the compensation given to the injured employees during they get the treatment and rehabilitation. They will be given a portion of their wage. Long-term compensation is for the employees that get the fatal accident that causes permanent disability. For instance, getting amputated on the leg or something like that that make that employee cannot work again.

Then, the death compensation is provided for the employee that passed away because the accident the working area. Death compensation is purposed to support the financial condition to the dependants of the employee. But if there are no dependants, the compensation is not available. For the company, it needs to ensure the profile of the employees clearly. And for the employee, also need to check the insurance policy offered by the company.

What happen if company not takes advantage of Travelers workers comp insurance?

As mentioned above, the risk if the company does not provide the workers compensation, the injured employee can sue to the court. Then, what if the company not chooses Travelers workers comp insurance? The answer is its company may not get the facilities offered by this experienced company insurance. Travelers would manage the things you should not worry about that.

How much is the premium of Travelers workers comp insurance?

To insure the employee to the Travelers workers companies insurance actually is higher. The range of the workers compensation is from $30,000 for a year. However, it is still influenced by the classification of the risk. The premiums for the more risky environmental working such like logging may be higher. Then, the location where the employee works also influences the premium cost. The location where there is any conflict or risky of terrorist attack, the premium would be increased.

In addition, the country benefits can also affect the premium that the company should pay. When the government is quite generous, there will be intensive workers compensation. Thus, it helps the company in lowering the premium cost. In reverse, when the country benefit is less, the premium that should be paid by the company may increase. It is because no subsidy from the country or government. In other word, the condition of the country can influence the amount of the premium payment.

Finally, there are some information related to Travelers workers comp insurance. The presence of the workers’ insurance is really needed instead of it is regulated by the law. Trusting the insurance of your employee to get the Travelers insurance may be worth it and. Its experiences that are more than 150 years may come as the point you take into consideration. Still, the decision is still on your hand.

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