Workers’ compensation insurance is required for all Iowa employers. Without it, some businesses would suffer because the costs of medical care have risen and are continuing to do so. Insurance companies pay close attention to these rising medical costs. When the costs they pay out exceeds what they charge in premiums, they find ways to maintain their profits. One way they do this is by raising the premiums for every customer. Another way is to raise the premiums on the other types of insurance that employers buy in order to offset the costs of keeping their workers’ compensation premiums stagnant. The only way an employer can avoid the increased premiums is to: 1) reduce or eliminate the number of claims, and 2) get competitive bids on its workers’ compensation insurance. This is easy to achieve by having an effective safety program, and by having Midwest Builders Casualty submit a quote at your next insurance renewal.
In 2013, MBI partnered with Midwest Builders’ Casualty Group (MWBC) to provide our members with access to their specialized workers’ compensation insurance program. MWBC has focused on providing workers’ comp coverage to the commercial construction industry throughout the Midwest for over thirty years. Their success has come from providing the highest level of service and knowledge because of their focused market. They understand the construction industry and have built their program on fostering long-term partnerships by maintaining both competitive and stable pricing, while not overreacting when claims occur. MWBC is also a dividend paying program that utilizes the most generous loss ratio for dividend qualification purposes in the industry.