Sheffield Workers Compensation Insurance

Sheffield workers compensation insurance has provided risk management services and workers compensation coverage to businesses since 1993. Based in Alabama, the Sheffield Group coverage meets the requirements outlined in Alabama worker's compensation laws.

According to their website, the Sheffield Group exclusively provides worker's compensation insurance, which gives them an additional level of expertise in dealing with coverage and claims issues. The Sheffield Group offers a variety of features designed for customer convenience, such as online enrollment forms for new customers, an online injury report form, and the option to make credit card payments over the phone. They also offer free safety training programs for a variety of industries on their website, making it easier for employers to reduce the risk of workplace accidents in their business. Employers can request safety videos from the website, which reduces the costs associated with accident prevention and risk management in the workplace. Located in the state of Alabama, the Sheffield Group's claim adjusters understand the unique needs of Alabama employers and workers.

The Sheffield Group requires each covered employer to enroll in the SAFE (Sheffield Association of Federated Employers) program. SAFE is a non-profit organization that assists employers with loss control education and engineering for maximum safety. Annual membership dues for this organization cost $180.00 per year, and workers compensation coverage can be canceled if SAFE dues go delinquent. In addition, members must follow any safety recommendations made by the organization.

The Group also requires members to submit to an annual payroll audit. Outside auditors check payroll records for consistency between the job designations covered and each employer's actual staffing. Payroll records will also reveal the exact amount of an employers workers ' compensation contribution and allow the insurance company to make any premium adjustments.

Alabama workers compensation law offers four options for Alabama employers. Sheffield workers compensation insurance is an example of commercial insurance coverage. This option works for employers in a low-risk industries, without a history of many workers compensation claims. Unfortunately, commercial carriers decide whether or not to renew a company's policy at the beginning of each year, and may raise rates if the company has had excessive claims.

The Assigned Risk Pool, provided by the National Council on Compensation Insurance, is for employers who have a history of numerous workers compensation claims or operate in a medium or high-risk field. To qualify, employers must provide documentation from at least two commercial insurance carriers who have refused coverage. Premiums for Assigned Risk Pool policies are much higher than conventional commercial prices, and rates can be raised each year.

Groups of employers can pool their workers compensation coverage contributions into a group self-insurance fund. The members of the fund decide whether or not to renew each employers membership in the fund, and contribution rates can be increased each year. The cheaper prices of membership in one of these funds makes it an attractive option for many employers. However, one serious disadvantage of the group self-insurance fund is that if the fund is not sufficient to cover benefits for workers compensation claims, then the individual employer is responsible for making up the difference in cost.

Individual self-insurance is only an option for financially strong employers. Employers must meet certain financial qualifications defined by the state of Alabama, including a minimum net worth of $5 million, and applying to the Alabama Department of Industrial Relations Worker's Compensation Division. This type of workers compensation coverage can be especially pricey since it requires the employer to directly pay lifetime benefits for any workers compensation claim. Costs also include hiring a claim servicing company and legal defense against possible litigation.

Since Alabama state law requires all employers to carry worker's compensation insurance if the company employs more than five people, it's important for employers to look for the best coverage at reasonable prices. Alabama worker's compensation regulations require employers to provide full medical benefits to injured employees at a medical provider of the employer's choosing, and short and long-term disability benefits as well. It is in every Alabama employer's best interests to find a company that helps each employer maintain a safe working environment to reduce the possibility of costly worker's compensation claims. Sheffield workers compensation insurance is one option for employers, but not the only one.

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