Workers Comp for Security Employees

Posted February 1 2013


Unlike most other classes of business, security guard workers' compensation is a niche market and can be difficult to place. Even with every safeguard in place, there are times when an accident may happen. During these times, an employee may need compensation for medical bills, injuries, etc.

 

In the past, obtaining Workers Compensation Insurance for employees such as security guards, private investigators, security consultants and alarm contractors has not been easy due to the nature of the business. Today, anyone in this sector looking for Workers Compensation Insurance has a professional on their side.

MHG Insurance Brokers uses multiple "A" rated carriers to insure security guards and related personnel who work in this industry. The insurance carriers that work with MHG realize and take into account: - The dangers of the work environment, - Training the guard has received, - Work experience of the guard, - And what type of exposures he or she might encounter at their particular place of business. 

Insurance carriers quoted through MHG will also look beyond the class code, and take into account the types of security offered and the implementation of security procedures. Because private security is such specific market in terms of insurance, and finding the right type of coverage can prove challenging, it is important to stress how working with a broker can help. Experienced brokers, like the specialists at MHG, are able to research the varying types of coverage and explain the differences, and also help navigate the various coverage forms and help clients find the broadest coverage available to them. 

In addition to these services, expert brokers can help clients avoid coverage gaps. While captive agents (those working for one specific company) try to make clients fit into their Workers Compensation product, an experienced broker works for the client and combs the market until they find the best product that fits each client's specific needs. Clients will also find additional benefits when working with "A" rated carriers through MHG, such as wage freezes and dividends or incentives.

Wage freezes are crucial as more experienced guards are often paid higher wages. Carriers offer wage freezes with guards who have extensive experience, as the likelihood of loss is lower. In terms of incentives, MHG's preferred security guard insurance carriers may offer dividends and incentives to their clients meaning a portion of the insurance premium is returned to the client based on favorable loss history.

MHG is a leading insurance broker for the private security industry, including guards, alarm firms, private investigation and more. Their brokers deliver a variety of insurance solutions that include competitive rates, comprehensive forms of coverage and industry knowledge of the security and investigation sectors. To learn specific details about a Workers Compensation Insurance policy for security personnel or to get a free quote, call 954-828-1819 or visit mhginsurance.com.