Beckworth Beneficial Blog

Posted by: Admin

Posted on: Feb 27, 2023 at 9:23 am

The Insurance Broker’s Role in Employer-driven Safety

As an employer, you bear responsibility for your workers' health, safety and wellness. Accidents and errors in the workplace can have devastating ramifications for both the short- and long-term health of your employees, so employers should implement robust risk management and loss control practices. Regardless of how diligent and thorough you may be in establishing and maintaining a safe work environment, working with a qualified insurance broker to ensure you and your employees have access to necessary resources in difficult times is essential. 

Providing Optimal Insurance 

Insurance brokers are uniquely positioned to help businesses of all sizes and sectors assess and address their risks and exposures. Equipped with an extensive cache of knowledge and experience, brokers can provide invaluable insight as it pertains to analyzing your organization’s unique circumstances and identifying all optimal insurance coverages and employee benefits. 

Although no two businesses have the same needs, there are several ways insurance brokers can help protect your employees’ short- and long-term health and wellness, such as ensuring you understand the following:

• Workers’ compensation insurance - This coverage can ensure your employees have access to the financial and medical resources they need to recover from injuries or illnesses caused by their jobs.
• Health insurance - Offering a good health insurance plan is integral to ensuring your employees have access to preventive care, medical specialists and emergency procedures for themselves and their families.
• Disability insurance - If employees develop a temporary or permanent disability, this coverage can provide financial assistance to help maintain their quality of life.
• Unemployment insurance - This coverage can provide crucial financial assistance for your workers if you can no longer employ them.

Beyond providing the aforementioned insurance coverages to your employees, brokers can also play a critical role in helping your business understand legal compliance. For example, the Affordable Care Act requires many employers to offer health insurance to employees. Furthermore, workers’ compensation insurance is mandated for most employers in every state but Texas. 

Offering Employee Benefits 

In addition to assessing and addressing insurance requirements, insurance brokers may also possess invaluable knowledge concerning employee benefits. By offering an ideal set of perks and programs, your business can help employees maintain their health and wellness while also enjoying attraction and retention gains. Brokers can help organizations understand requirements and compile optimal benefits packages, which may include the following: 

• Life insurance
• Leave management programs
• Retirement plans
• Employee assistance programs
• Loan repayment plans
• Dental insurance
• Vision insurance
• Wellness programs (e.g., gym membership reimbursement)

Although some of these benefits may not directly impact the safety of your workplace, they may help keep employees happy and healthy, reducing the risk of health issues and accidents on the job.  

Requirements and Recommendations 

In addition to providing optimal insurance solutions and employee benefits packages, brokers may also have invaluable insight to ensure your business complies with workplace safety regulations and requirements. Furthermore, many brokerages may include loss control services with your business’s policies. During a loss control investigation, a workplace safety expert will assess your workplace and identify potential improvements. By adhering to these recommendations, you can make your employees safer and may even qualify for discounted coverage. 

We’re Here to Help 

Maintaining a safe workplace and taking care of your employees are essential responsibilities. But you don’t have to tackle risks and exposures by yourself. Contact Beckworth Beneficial today to learn more about keeping your business and workers safe.