Improving Safety Measurement System Results
BRAKES, LIGHTS, AND TIRES ARE MY MOST COMMON VIOLATIONS. HOW CAN I IMPROVE MY SMS RESULTS?
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Great West offers Workers Compensation and trucking insurance plans with large deductibles to motor carriers that are safety-minded and focused on cost control.
Motor carriers that choose a Large Deductible plan should be especially focused on maximizing safety initiatives and minimizing workplace incidents for employees.
In a nutshell, when you select a large deductible Workers Comp plan, you are choosing to have your trucking company fund the first “layer of a loss” — or the amount up to the deductible you choose.
Great West’s plan with large deductibles always includes indemnity and medical payments, but the responsibility of paying the allocated loss adjustment expenses (ALAE) differs. Your Great West agent can walk you through the two options available for this program.
When you choose a Large Deductible policy, your trucking company is required to cover the cost of expected losses for which you’re responsible. For that reason, we require you to maintain funding for 125 percent of retained incurred losses and anticipated losses.
Motor carriers that choose a Large Deductible plan should be especially focused on maximizing safety initiatives and minimizing workplace incidents for employees.
This summary is intended for informational purposes only and does not replace or modify the definitions or information contained in any insurance policy or declaration page, which controls all coverage determinations. Terms and conditions may vary by state, and exclusions may apply.
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