CompWest Insurance Company, part of the Accident Fund Holdings family, has partnered with Phoenix Risk Management Insurance Services to write workers' compensation insurance for specific classes in the healthcare industry.
This program targets California operations with an annual premium between $75,000 and $500,000 in a variety of classifications including: residential care for children; nursing homes, convalescent homes or hospitals and rest homes; physicians' offices; residential care for elderly or adults; and residential care for the developmentally disabled.
“The partnership with Phoenix Risk Management provides two key benefits,” said Gene Simpson, vice president of underwriting and marketing for CompWest Insurance Company.
“First, they provide access to a large book of business they write in target classifications we want to grow in. Second, PRM has significant expertise that will yield higher quality risk selection and pricing as we grow in this segment.”
The partnership is intended to bring tangible value to policyholders to minimize injuries and reduce long-term insurance costs.
“There are three primary benefits to the customer when they buy their insurance from CompWest,” said Simpson. “First, when a business buys workers' compensation insurance, they're paying for a promise to take care of their employee when they suffer a work related injury.
“Our motto is 'Workers' Compensation with Care,' signifying our commitment to help their employee recover from their injury using our personal, empathetic, proprietary care model. Our claims management process not only helps injured employees return to work sooner, but does so at a lower overall cost which ultimately helps the business lower their insurance costs.”
He added that CompWest provides customized accident prevention services to the customer, partnering with them to analyze past losses and survey their business to identify attributes that increase risk to injury.
“Once these risks are identified, we work with them to find cost effective solutions to improve overall safety, as the best outcome for everyone is to prevent injuries from happening in the first place,” he said.
“Third, since workers' compensation is all we do, we bring extensive focus and industry leading expertise to the insured, along with a long term commitment to provide a stable market to meet their insurance needs.”
compensation, CompWest Insurance Company, Phoenix Risk Management, CompWest, workers' compensation