3.4%
OF EMPLOYEES WILL MAKE A WORKERS COMPENSATION CLAIM*
5,250
WORKFORCE EMPLOYEES DIED ON THE JOB IN 2021*
2.7M
EMPLOYEE WORK RELATED INJURIES AND ILLNESSES*
DO YOU HAVE MONEY SET ASIDE FOR A CLAIM?
HAVING A STOCKPILE OF EMERGENCY FUNDS IS COST PROHIBITIVE. AS A BUSINESS OWNER, TAKING MONEY OFF THE TABLE ISN'T GOOD BUSINESS. A PRUDENT BUSINESS OWNER WILL PURCHASE INSURANCE TO FINANCE THE UNAVOIDABLE CLAIMS THAT ARE EVENTUALLY MADE.
SETTING ASIDE 1M USD FOR A CLAIM IS FINANCIALLY NOT ADVISABLE. THAT CASH CAN BE PUT TO WORK.
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MOST BUSINESSES DO NOT HAVE THE REVENUE TO PAY CASH FOR A CLAIM. THOSE THAT DO, THEY DO SO AS A LAST RESORT WHEN THEY ARE UNINSURABLE.
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BUSINESS OWNERS ALSO RECEIVE THE BENEFIT OF THE INSURANCE COMPANY FIGHTING THEIR CASE IN COURT.
HERE ARE YOUR OPTIONS...
WANT TO REVIEW YOUR OPTIONS? THERE ARE SEVERAL WAYS THIS CAN GO DEPENDING ON THE BUSINESS OWNER AND HOW THEY OPERATE THEIR BUSINESS.
FEELING LUCKY
“MY STATE DOESN'T REQUIRE WORKERS COMPENSATION”
Fair enough but hear me out. Just because a state doesn’t mandate workers compensation, won’t stop an employee from making a claim.
“ALL MY GUYS ARE 1099. WE'RE GOOD, NO THANKS.”
Be that as it may, if your 1099 subcontractor is injured, you (business owner) are liable.
“HEY, THAT'S GREAT, BUT WE'RE NOT DOING ANYTHING CRAZY. SUPER LOW RISK."
Driving without a seatbelt is risky, but you don’t have to wear it. There are airbags in cars for a reason. We hope for the best and plan for the worst. A business is the most important thing you own. Why risk it?
LOCAL BROKER
“I HAVE AN AGENT"
We assume every business has one. We are not just another agent. We are not trading out one agent for another. Rikor scales with your business, allowing you and all other owners to benefit from your purchasing power. This happens at scale, and your business reaps the rewards of collective purchasing. Something you don’t get at the local level.
“I ALREADY HAVE COVERAGE”
We completely understand you have a policy, every business owner has it. What we find is that our insurance analysis commonly finds areas of exposure. Business owners benefit greatly from a preferred broker like Rikor, who looks at the policies in depth on your behalf.
“I JUST CARE ABOUT PRICE"
We are always competitive. Our current closure rate is so high that we are confident we are totally competitive with the market. How else would we close more than 75% of open business? If we’re getting your colleagues business, we’re doing something right.
✔ PREFERRED BROKER
✔ PURCHASING POWER
Your purchasing power is diluted if every franchisee purchases insurance on the market alone. This provides short-term independence and control. But by leveraging your franchise, you pool your collective buying power. This in turn gives you (business owner); favorable terms, favorable underwriting, faster turn-around times, low friction approvals, carrier access. In the long run, you get much more than you imagined. This is one of the many benefits of “franchising” that are exclusive to your business model.
✔ EXPERTS IN FRANCHISING
Accuracy is key when insuring a business. Wrong industry classifications and a myriad of other oversights can spell disaster down the road. Insurance is there to stave off problems, but when a policy isn’t done right, audits and non-renewals are just around the corner. Get an expert in franchising. Get a Rikor Consultant.
✔ COMPETITIVE RATES
If we’re getting your colleagues business, we’re doing something right. How else would we close more than 75% of open business? In fact, market rates are the same across the board. So we’re always making sure our business owners are getting the best possible option.
