We’ve been listening to organisations. Many professionals with workers’ compensation responsibility are feeling overwhelmed. With increasing instability across jurisdictions and some insurance partners exiting markets altogether, many organisations feel they are losing control over their workers’ compensation program.

This increasing complexity is having a direct impact on internal resources and the bottom-line.

With decisions to be made, organisations might not know who to turn to or where to look.

Lockton has produced this educational report as guidance to help inform organisations based on some of the questions our experts are being asked in 2023.

What’s in the guide?

• How can employers place a workers’ compensation policy?

For some organisations, accessing the commercial workers’ compensation market is new and unfamiliar territory. For most of our clients, workers’ compensation is often one of the largest spends on any given P&L.

Underwritten jurisdictions:

• What are premium outcomes influenced by?

• What has the biggest impact on premiums?

• How can organisations get better outcomes?

• What are some of the different policy structures available?

• How can organisations provide a high quality underwriting submission to the insurance market?

Managed Fund Jurisdictions:

• What are premium outcomes influenced by?

• What has the biggest impact on premiums?

• What alternative risk transfer opportunities are available?

• What can happen to tail claims in periods of transition?

• How can organisations get better outcomes?

Additional questions to ask:

• How can organisations know if their risk profile has changed?

• Does your finance/payroll team understand the importance of accurate wage estimation?

• In periods of transition, what should organisations focus on?

Download now

Click the download button (located on the right for desktop users and at the bottom for mobile users) and fill out the form to access the report.