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Archive: Jun 2016

Workers’ Compensation Dividend Plans

A workers’ compensation dividend plan is a method where qualifying employers can share in the profitability of their account with the insurance company. Dividend plans are controlled by each state through legislation and department of insurance rules.

Employers who use these types of plans are compensated in the form of dividend payments based on how well their policy performed. Payment of dividends to workers’ compensation policyholders is a very common method used to adjust pricing of a policy after it expires.

There are a few types of dividend plans out there, but one of the most common is the sliding scale dividend. The policyholder will be compensated on a percentage of premiums based off a sliding scale of earned premium and loss ratio determined by the insurance company.

Eligibility requirements can vary from carrier to carrier, but some common requirements are:

– An employer’s earned premium must be at a specific minimum level.
– A minimum acceptable loss ratio is required. This is the total claims paid, including reserves, divided by the premium.
– Your policy must remain in force for the full policy period.
– All premiums must be current and paid before the dividend is due.

There are many factors to consider when looking at a workers’ compensation dividend plan:

– Employers may realize a savings in premium for each claim dollar saved.
– Dividends promote a financial incentive to help promote safety and injury prevention.
– Dividends can only reduce the price of a policy; there is typically no penalty to the employer for excessive or large claims other than not qualifying for the dividend.
– Not all insurance companies offer dividend plans and not all agents have access to carriers that offer them.
– Dividends cannot be legally guaranteed. Dividends are subject to approval by the Boards of Directors and may be dependent on the profitability of workers’ compensation within the state.
– Individual state legislation and insurance department rules outline how dividend plans can be marketed to employers.
– Payment of past dividends is not a guarantee of future dividend payment.

Agency Referral Program

We believe an accurate measurement of our customers’ confidence, satisfaction and trust is when they recommend our services to friends, family members or business colleagues. Our customers frequently recommend us to others seeking auto, home, life, renters insurance, and business insurance

To show our appreciation, we have established a referral program that rewards you for your willingness to refer us to others for their insurance needs.

You will receive a $20 gift card for every client you refer to our agency when we write their insurance. There is no limit to the number of referrals you can make. Simply ask your family member, friend or colleague to tell us you referred them. We welcome the opportunity to talk to potential clients about how Kuhl Insurance can protect them from ‘What If’ through our team of experts and comprehensive insurance products.

Much of our growth is fueled by satisfied customer referrals and we sincerely appreciate, and enjoy recognizing, the vote of confidence.

K+ Service Pledge

6 Reasons You’ll Feel Protected and Well Served:

K+ Service Pledge

1. We provide 24/7 access for our customers, offering emergency phone numbers, internet account portal access and email response services.
2. We are responsive and will return your phone calls and emails promptly and accurately respond to your requests.
3. We guide you through the claims process, should the unfortunate need arise and promote prompt, fair resolution.
4. We protect you by understanding your coverage needs, setting goals designed to minimize risk, contain costs and market your insurance to the most suitable company for our requirements.
5. We advocate for you by backing you with a K+ Certified Team continually trained and experienced in efficiently operating with the high quality insurance carriers we represent.
6. We serve you with our team of industry leaders who start each day with positive energy and an unwavering commitment to our clients, team members and the communities we serve.

We pledge this to you, our valued clients, and ask that you let us know if we fail to meet our commitment, so we may continue to improve the ways we serve your needs.

What is an independent insurance agent?

The definition of an independent insurance agent is “an insurance agent that sells insurance policies provided by several different insurance companies rather than a single insurance company.”

An independent insurance agent is able to provide their clients with more options when it comes to insurance products. An insurance agent that sells policies offered by a single insurance company is referred to as a “captive agent.” And while in some cases the policies offered by the captive agent may be less expensive, the client may never know whether he or she is getting the best deal or coverage since only one option is available.

An independent agent can do some important things for you:

Agents have the ability to check prices and coverage with a number of different insurance companies. And since rates can vary widely from carrier to carrier, the independent agent is most likely able to get you a better deal than you can get for yourself.

Independent agents don’t just sell one type of insurance – you can use them to handle your many insurance needs in one place.

Insurance is complicated to say the least. It’s an independent agent’s responsibility and job to understand and be able to communicate it to you in a way that helps you understand it as well.

More and more companies have switched to automated phone systems, which can make it difficult to get to the right person. At an independent agent, more than likely an actual person will still greet and be able to assist you. If you need to file a claim, your agent can help you not only report it but explain exactly what your policy covers and what to expect at each stage of the claim.

There is nothing wrong with going directly to an insurance company. However, dealing with an independent agent offers you certain services and protections. Many independent agents offer no obligation consultations and will take the time to explain to you exactly what it is they can do for you.

As an independent insurance agency, we think about you and the best ways to protect your assets. Independent means that when you need to file a claim, you have an advocate who knows the fine points of both your policy and insurance carriers. We’ll be there during the tough times to answer your questions, stay on the case and clear the way for a resolution that’s in your best interest.

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