At MEM, we offer a unique approach to writing work comp insurance for those in the healthcare industry. It all starts with our vision of “Safe, Healthy, and Injury-Free Workplaces.” 

Watch below as Rachel Lawson, MEM’s Senior Underwriter, explains what needs to be considered when writing work comp for those in the healthcare industry and what we can do to help.  

Know Your Risks 

Healthcare risks are often hidden in plain sight. Lifting and turning patients can lead to strains and sprains. Needle sticks and pricks can happen both in the doctor’s office and in the field. And whether you’re rushing a sick patient to the emergency room or hustling to a senior citizen in need of care, motor vehicle accidents are always a risk.

Do you know the biggest hazards present in your organization? If not, then it’s time to put safety first. First, list your exposures. Then, put safety protocols in place to address them. Create a positive environment. Teach employees why these measures are being put in place.

Partnering with MEM 

Our experts are here to help address every healthcare risk. Together, we’ll look at the organization, its previous losses, and loss trends in the industry to assist you. 

The post Work Comp for the Healthcare Industry: 3 Things You Need to Know  appeared first on MEM.

Watch below as Jennifer Wheatley, Senior Underwriter at MEM, explains what information is needed to properly write a transportation risk and what MEM can do to help.  

Why is transportation so complex? 

At MEM, we’ve found that with transportation, you must look beyond protocols, odds and loss runs. Many businesses with increased risk have employees that travel nationwide. This results in high levels of exposure to many different risks.  

Not only do these risks need to be factored in, but what cargo is being transported, if the driver is also the owner of the business, and if the vehicle is leased or owned. 

What agencies should write transportation risk? 

Due to the complexities of writing a transportation risk, an agency should have prior experience. They will know what to look for, including: 

• Safer Systems 
• Safety Ratings 
• Safety Management Systems 
• Active Safety Protocols 

What does MEM look at for transportation risk? 

We always begin looking at any policyholder by identifying their risks and exposures. However, we know there are other factors to consider, such as: 

• Loss runs 
• Trends within the business 
• Growth of the business 
• How the business compares to the industry as a whole 
• Policies and procedures 
• Telematics 
• E-Logs 

We also review whether a business has disciplinary policies and how they enforce them, along with considering if a business is watching their own loss trends based on data and how they work at mitigating future losses.  

How can MEM help? 

MEM knows transportation risks are complex. Our robust Safety and Risk Services Department works with our Sales Executives and Underwriters to help each agency and business. We have a transportation specialist and committee to keep a close eye on the transportation industry. This ensures we ask potential policyholders all the right questions.  

The post Writing Transportation Policies: Why is it so complex? appeared first on MEM.

At MEM, some of our potential policyholders are required to participate in a prospect visit. The purpose of this visit is to help communicate the value that Safety and Risk Services (SRS) brings to the table. During these visits, an MEM Safety and Risk consultant performs a risk assessment that can aid our underwriters in the quoting process. 

Watch below as Timothy Wilson, MEM’s Safety & Risk Services Regional Manager, explains prospect visits and how they benefit potential policyholders. 

A risk assessment is designed to efficiently document: 

• Who the risk is 
• Basic operations 
• Business class 
• Basic employment practices 
• Hazards and applicable controls  
• Claims management processes 
• Effectiveness of safety and health programs 

A big part of our assessment process is direct observation of business operations. We not only want to document what policies and procedures are in place, but also what practices and behaviors are happening in the workplace. 

This information is considered alongside other business factors like: 

• premium size, 
• the nature of the business, and 
• loss trends. 

This allows our underwriters to prepare an informed and competitive quote. 

If we end up writing that business, then we hit the ground running on servicing the account. This happens because we already know what programs, offerings, and other services this prospect could benefit from.
We are always looking for opportunities to serve potential customers. For example, if we visit a prospect and determine that they do not have a seatbelt policy, we can point them to a sample policy and explain the benefits.  

We take the time to talk to them about: 

• Any deficiencies we notice 
• Why it’s important to address them 
• Possible strategies they can use 

 At the end of the day, we want any business that chooses to spend their time with us to benefit from these visits. 

The post Prospect Visits: Ensuring Safety of Potential Policyholders appeared first on MEM.

Watch this video as Mindi Markt, an MEM underwriter, explains what you need to know and how that information is used when determining work comp premium.  

Start by asking 

• Who is being insured? 
• What type of business is it? 
• Where will the business be working? 
• What is the business doing to keep the employees safe? 

Valuable information 

Once you understand the basics of their business, make sure you have this information: 

• Basic contact information 
• Business name 
• Tax ID number 
• Payroll estimates by class code 
• Description of operations 
• Loss history 

Having this information will ensure you have everything you need to fill out the application on our online portal. 

How is a quote calculated? 

Quotes are priced using several different criteria.  

• Classification code – What sort of safety risk is involved with this type of business? 
• Individual data – How has this business performed in the past? 
• Industry performance at MEM – Is this industry part of MEM’s current appetite? 

We know you may still have questions along the way. We are here to help.  

At MEM, every policy has a dedicated underwriter ready to help answer any other questions you may have along the way. Contact us at 1.800.442.0593 and we will be happy to connect you with your underwriter. 

Are you a business owner looking for work comp coverage? Use our Find an Agent tool or learn more about how to choose a work comp insurance carrier. 

The post Work Comp Quote 101 appeared first on MEM.

Watch as our Premium Consultation Manager Chonna Patterson, explains how to select the right class code when submitting business.  

Technology allows you to better understand what a business does. Viewing a business’s Facebook page, social media accounts or website will help you know what questions to ask and enables you to classify the business more accurately.  

There are a few class codes that can be a little tricky to write.  

5606 – Executive Supervisor 

There must be a layer of supervision between the person identified as the Executive Supervisor (5606) and the person doing the labor.  

5437 – Trim Carpentry 

Reserved for only contractors performing trim or cabinet installation specifically. If any other carpentry work takes place on the job site, then it does not qualify as a code 5437. 

Standard exception codes

8810 – Clerical 

8742 – Outside Sales 

Employees classified as these class codes must only be doing tasks associated with these codes. If they have any other responsibilities or tasks, it will exclude them from the 8810 or 8742 class codes.  

Need more information?

NCCI provides an online option to search class codes with a thorough description. For more, check out Protect Your Business by Properly Classifying Employees.

You can also contact Missouri Employers Mutual with additional questions.

The post Challenging Class Codes: Classify a Business with Confidence appeared first on MEM.