If you’re currently selling Group Health, you already know you can build a stronger bond with your clients by expanding your service to them. Have you considered Property and Casualty (P&C)? Or, more specifically, have you thought about Workers’ Compensation? It’s coverage most employers are required to have, so it’s a natural extension of your current relationship selling employee benefits to businesses.
What Is P&C Insurance?
P&C stands for “Property and Casualty”. P&C insurance includes policies covering property and casualty risks like auto, homeowners, and commercial insurance, including Workers’ Compensation coverage.
Workers’ Compensation Insurance provides benefits to employees who are injured or become ill as a result of their jobs. Having such coverage is mandatory in both California and Nevada for most employers with workers, although there are exemptions. Visit the California Department of Insurance website for more information.
California adopted its first workers’ compensation laws over a century ago – in the 1910s; Nevada followed in 1913. Both predate Social Security and unemployment compensation, which began in the 1930s.
Depending on the circumstances of a person’s work-related illness or injury, employees are entitled to specific benefits authorized by their state’s Workers’ Compensation plans. There are five types of benefits available: medical care; temporary disability benefits; permanent disability benefits; supplement job displacement benefits; and death benefits. Injured workers may be eligible for a combination of benefits.
What’s Needed to Sell WC?
To sell Workers’ Comp, you need a P&C license. The process for earning that license is much like it was for your existing Life or Accident and Health or Sickness license. It involves training/pre-licensing education, an application, exam, and – to maintain your license – Continuing Education.
However, there is a shortcut to offering Workers’ Comp to your clients. That is if you’re a licensed Health and Accident broker and Word & Brown (W&B) is your general agent. You are not required to earn or have a P&C license.
CompNet Coverage through Word & Brown
Even without a P&C license, you can refer your clients to CompNet Insurance Solutions and receive a referral fee when your client chooses one of CompNet’s Workers’ Comp plans. CompNet offers coverage to businesses of all types. Participating insurer partners include Berkshire Hathaway GUARD Insurance Companies, EMPLOYERS, and others.
CompNet’s goal is to make it easy for employers to get the affordable Workers’ Comp coverage they need backed by a highly rated insurer. CompNet offers an online platform and a range of products, programs, and services – including pay as you go, competitive premiums, no down payment, and no installment fees.
Why Choose Word & Brown and CompNet?
Your clients will appreciate being able to secure more coverage through a single source: you. You will earn a referral fee on any quote that turns into a sale. Your client relationships are secure and 100% protected. Clients will not be solicited for anything other than Workers’ Comp coverage.
You can easily round out your portfolio and open the door to additional opportunities from your existing customers. No P&C license is needed.
Get a Quote or Learn More
Act now to start a quote for your client in need of Workers’ Comp. It will help you nurture a stronger relationship and open the door for you to increased opportunities and earnings. Visit the CompNet web page, contact David Bedard via email at dbedard@compnet-insurance.com, or call 508-397-7906 for more information.
