Protecting Your Greatest Asset

Your people are your company’s greatest asset. Your business depends on them. No one wants their employees to get hurt on the job, but when it happens, FCCI’s workers’ compensation coverage is there to help.

FCCI has provided quality workers’ compensation insurance coverage since 1959. We have a long history of caring, and our experience shows in the relationships we build. We offer a diverse product line including guaranteed cost, loss sensitive and dividend plans. Our experienced risk control consultants will help you provide a safe work environment for your employees.

We provide Medical Select, an online workers' compensation provider network for policyholders to easily access provider information. Our claim management strategies lead to quicker settlements and get your employees back to being themselves.

Workers' Compensation products tailored to your business

  • Guaranteed cost offers employers fixed premiums regardless of claim volumes. Premiums are set based on company and industry risk, shielding businesses from unexpected expenses or work-related illnesses.

  • Dividend Plans reward profitable performance by returning a portion of the premium when policyholders, either individually or as a group, meet favorable performance and eligibility requirements. Rewarding performance incentivizes proactive risk management. Dividends are not guaranteed and are declared at the sole discretion of the Board of Directors.

  • Loss-sensitive (large deductible) policies allow employers with a higher risk tolerance to pay lower up-front annual premiums in exchange for paying higher deductibles, up to a maximum annual cap. The final cost is dictated by losses incurred during the policy period. Employers with better safety records and lower claims produce reduced premiums, encouraging a focus on workplace safety and risk management.
Workers high-five
If an injury occurs, our claim management strategies lead to quicker settlements and get your employees back to work faster. Our claim representatives have lower caseloads than the average insurer, allowing them the time they need to support you and your injured worker with early contact and consistent communication. They have the time, experience and support to better manage the claim process.

Injury Triage Service

Even in the safest work environments, employees can still get hurt. Thanks to a partnership between FCCI and Medcor, employees and supervisors in any industry can call Medcor's Injury Triage Service to determine the best course of action for an injured worker.

The toll-free hotline is available to the employees of FCCI Workers' Compensation policyholders. It provides workplace injury screening assessments from highly trained and professional U.S.-based registered nurses when injuries occur or at the onset of injury.

Program Highights

  • Immediate 24/7/365 attention from skilled triage professionals.
  • Identify the severity of injuries and direct off-site care when needed.
  • Supervisors are freed from making stressful medical decisions.
  • Unnecessary doctor's visits are avoided, reducing costs and lost time.
  • Translators are available when needed in more than 200 languages.
  • Calls are recorded for quality assurance and case documentation.

This is a pre-claim solution that gives workplace employees access to immediate medical guidance and improved outcomes. It further helps to avoid unnecessary medical treatments, reduce claims and lower insurance costs. More than four million triage calls have been received since the program’s inception, with 90% of incoming calls answered in under 60 seconds. 

Injury triage is about assessing the extent and urgency of non-life-threatening injuries and advising injured employees on the appropriate level of care at the right time. Contact your agent or FCCI business development specialist for details.

Six Trends Affecting Workers' Compensation Insurance

Workers’ compensation coverage plays a major role in connecting injured employees to the care they need to return to work as quickly and safely as possible. It’s also mandatory coverage in most states, so it’s crucial for your organization to develop an effective workers’ compensation program. Read on to learn more about the trends impacting workers’ compensation insurance and employee health and safety.

1. Telemedicine use
Since the COVID-19 pandemic, the adoption of telemedicine in workers’ compensation has accelerated and is expected to remain relevant. It allows virtual medical services for injured employees, providing convenience and accessibility. Telemedicine benefits include saving time and transportation costs, offering easy access to specialists and promoting faster recovery.

2. Use of wearable safety technology
Businesses are increasingly adopting wearable safety technology to reduce employee injuries and workers’ compensation claims. These electronic devices can monitor employees’ behaviors, provide real-time safety instructions and allow safety managers to adjust the work environment. By implementing these devices in the workplace, businesses can promote a safer work environment.

3. Focus on mental health
Employee well-being, encompassing physical, mental and emotional health is essential for workplace safety and business objectives. To address well-being, businesses should consider mental health initiatives, as a healthier workforce can help reduce accidents and claims.

4. Inflation effects
Inflation impacts the commercial insurance market, including workers’ compensation. Medical inflation, wage inflation and higher employee pay are all key contributors to the cost of coverage. Medical inflation has been relatively low due to past profitability and fee schedules in some states. However, it is expected to increase in the future. Wage inflation has risen as businesses increase pay to attract and retain workers, potentially leading to higher workers’ compensation premiums. There could be challenges in maintaining a balance between wages, benefits and premiums, leading to short-term disconnects.

5. Mega claims
The surge of exceptionally large claims in recent years, totaling $3 million or more, has impacted the cost of workers’ compensation insurance. These claims typically arise from severe and possibly permanent on-the-job injuries. Mega claims can impact companies as they are often complex to manage and can create significant financial burdens.

6. Aging workforce
The past decade has brought on an aging workforce. According to the U.S. Bureau of Labor Statistics, the share of employees over the age of 55 in the labor force is expected to increase to nearly 25% by 2024 (up from 21.7% in 2014). Such a statistic is notable, as the cost of workers’ compensation claims generally increases as employees age. Because health typically diminishes with age, the impact of minor injuries can be more severe for older workers—taking them longer to fully recover.

We are here to provide much-needed market expertise. Contact us today for additional risk management guidance and workers’ compensation solutions.

This document 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. The information provided is only to assist you in your compliance and risk control efforts. FCCI shall not be liable for any loss, damage or expense arising out of the use of the information contained within this document. © 2023 Zywave, Inc. All rights reserved.

Risk Control Spotlight: Workers’ Compensation Insurance

Workers’ Compensation Insurance is part of an overall risk management plan.

FCCI’s Risk Control services will help you make sure you’re providing a safe work environment and minimizing risks to your employees and your business, such as Return-to-Work programs, OSHA training and more. Our consultants give you one-on-one attention to devise programs designed to prevent injuries and losses from happening in the first place.

Learn more about our Risk Control Services
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