Workers' compensation insurance in Michigan is mandatory for both private and public employers with three or more employees or a single employee who works over 35 hours per week. If you sell insurance to high-risk companies such as the logging and forest industries, it makes sense to expand your insurance offering and include products designed for high-hazard business classes.
It’s important to understand what specialty workers’ comp in Michigan covers, the underwriting process, and how coverage for higher-risk exposures helps you assist a broader clientele.
High-risk or specialty workers’ comp is insurance provided to organizations presenting higher-than-average compensation claims. You can sell a variety of workers’ compensation insurance options to high-hazard clients with zero-premium deposits or pay-as-you-go options. Types of high-risk insurance products in Michigan include:
Seeking wholesale coverage will help you access more markets requiring high-risk or specialty workers’ comp and gain the expertise to provide the services these niche clients require.
Specialty workers’ compensation in Michigan ensures employees receive compensation to cover costs related to all reasonable and necessary medical treatments and some of the lost wages for work-related injuries and occupational diseases.
WHAT SPECIALTY workers’ comp in Michigan covers:
Specialty workers’ compensation coverage in Michigan includes the following:
WHAT SPECIALTY WORKERS’ COMP IN MICHIGAN DOESN’T COVER
The costs not covered by Michigan workers’ compensation include:
At Novatae, we create high-risk workers’ comp insurance products designed for our clients requirements and ensure we weigh risks to develop effective insurance packages. Our approach includes the following steps:
Logging injuries in Michigan are common, as the timber industry is one of the most dangerous jobs in the U.S. Workers operate large machinery and climb and fell trees, reaching heights as tall as some skyscrapers. Loggers are at risk of death and permanent injuries, including:
Construction workers worldwide face daily perils, including injuries, disease, and fatalities, due to the dangerous conditions and equipment at construction sites.
Manufacturers cover a diverse range of products, with many presenting risks related to heavy machinery, toxic and hazardous materials/chemicals, dangerous conditions, and more.
Agriculture is another industry where constant exposure to risks includes everything from toxic chemicals found in pesticides and herbicides to heavy machinery and long hours starting in the early morning hours to extreme temperatures working outdoors.
High-traffic routes, long hours, long hauls, and dangerous conditions encountered on unfamiliar routes are just a few examples of the dangers posed when working for transportation companies.
Healthcare
There are also what are known as “tough classes,” which include workers in jobs such as:
Healthcare:
Construction:
Transportation:
Miscellaneous:
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At Novatae, our underwriters provide coverage for high-risk companies and tough classes. We can design the perfect high-risk and specialty labor workers’ comp insurance policies for your difficult-to-place clients with customized solutions designed to meet Michigan regulations.
For more information or to request a quote, click here.
This article is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.