LCI Fund Newsletter
Client: The LCI Fund, a group offering self-insured workers’ compensation programs to small and medium-sized businesses.
Challenge: The fund needed content for their regular print newsletter to keep workers’ comp insurance agents and policy-holders in the know.
Result: Cap & Wing wrote articles for LCI’s newsletters to fill them from front to back. Pieces included news articles, customer profiles, practical tips, employee interviews, and more.
Why You Should Report ALL Claims Right Away
If you need to report a claim, or even an incident that you think might end up becoming a claim, don’t wait. Reporting should ideally occur within 24 hours of the incident.
Some people erroneously believe that reporting a claim will automatically make their premiums go up. In actuality, not reporting a claim right away tends to increase premiums. Here’s why:
- Investigations – The safety inspectors who come out to a site to investigate a claim may find evidence pointing to factors that may mitigate or even eliminate the employer’s responsibility for the accident. It’s important the investigation happens while any evidence is still fresh.
- Medical cost control – One doctor might prescribe time off work and expensive surgeries, while another doctor may prescribe less involved remedies. The immediate reporting of claims gives the service company time to request a second opinion if appropriate.
- Legal fees – When injured workers feel their cases aren’t being managed well, they tend to hire lawyers, which drives up costs considerably. On the other hand, claim representatives are experienced with keeping injured workers satisfied and can keep claims from being dragged into the legal system.
According to Yvonne Rosen of the Frank Gates Service Company, the firm which handles claims for the LCI Fund, some policy holders mistakenly think of worker’s comp insurance like auto insurance. “If a pebble cracks your windshield, you may not call your auto insurance company and choose to repair the damage yourself, because you don’t want your premium to go up. By the same token, if a worker has an injury that seems to be minor, the employer may pay the medical bills out of pocket without making a claim,” she says.
But Rosen points out that the two situations are not truly comparable. While a cracked windshield will never lead to damage on any other part of a car, medical injuries frequently become a lot worse—and a lot more expensive—than they seem when first diagnosed. Furthermore, windshields never call lawyers.
“Just keep our toll-free number handy and call and report anything you might have a question about,” Rosen urges.
To report a claim, call (866) [xxx-xxxx]. Write the number down in your Rolodex or tape it on your filing cabinet.