What is Group Accident Insurance & Why Do Your Clients Need It?

As an insurance agent or broker professional, you care about your clients and want to provide them a valuable and suitable insurance product. With that in mind, have you considered Group Accident insurance as part of your coverage offerings?   

Most people assume that if a person is injured while interacting with an organization or business, they are either automatically covered under workers’ compensation or a commercial liability policy. It’s not as simple as that.   

Organizations normally have liability insurance. However, for a liability policy to apply, negligence on the part of the organization or business must first be established. In addition, general liability insurance usually comes with a deductible that must first be paid before claims payment begins. Employees are covered under workers’ compensation but not participants such as students, athletes and volunteers.  That’s where group accident insurance comes into play.

What is Group Accident Insurance & How is it Different?   

Group Accident insurance is a policy that provides financial coverage for expenses incurred from an injury to a student, athlete, fan, volunteer or an event participant. This type of policy pays regardless of fault.

What Kind of Businesses & Organizations Benefit from Group Accident Insurance?

Many types of companies and organizations can benefit from a Group Accident policy, including:

Who Does the Policy Cover?

Group Accident insurance may pay for the injuries of people not normally covered under other types of insurance such as:

  • Athletes & Fans
  • Coaches
  • Volunteers
  • Students
  • Chaperones
  • Students
  • Participants

What’s Covered?

A wide variety of injuries may be covered under Group Accident policies, including:

  • Sprains
  • Breaks
  • Concussions
  • Cuts/Abrasions
  • Burns
  • More

Where Does Coverage Apply?

Group Accident insurance may cover people in a wide variety of locations, such as:

  • Schools
  • Practices
  • Games
  • Tournaments
  • Travel to & From events
  • Events

How Do Your Clients Benefit from Group Accident Coverage?

Your clients may benefit from our coverage in numerous ways:

  • Adds An Extra Layer of Financial Protection
  • Decreases the Chances of Legal Action
  • First Dollar Coverage  
  • Helps Students who may not have Health Insurance
  • Enhances an Organization’s Reputation and Credibility
  • No Need to Determine Negligence for Coverage to Apply 

How Can Agents & Brokers Benefit from Group Accident Coverage? 

Insurance professionals may benefit in many ways from selling our Group Accident insurance policies:

  • Provides a Valuable Financial Protection Solution for Clients   
  • Demonstrates Expertise, an Understanding of Need & Strategic Thinking
  • Strengthens Client Relationships
  • Allows Opportunity to Build New Client Relationships with Prospects
  • Provides a New Source of Revenue
  • POMI is a member of Great American Insurance Company with an outstanding reputation and financial strength you can trust. 

Selling Group Accident Insurance from POMI can be a “win-win” for you and your client. If you are ready to learn more about how POMI can help you grow and strengthen your client relationships, send us a message, schedule a zoom chat on our contact page, or email us at [email protected]!

 

This is an accident only policy with limited benefits and does not pay benefits for diseases, sickness or loss from sickness.  Coverage is summarized. Coverage features and product availability may vary by state. This is not a contract for the coverage described herein. Please contact us or your agent/broker for additional information and refer to the actual policy for a full description of applicable terms, conditions, limits and exclusions. Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the DC. © 2022 Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202.  All rights reserved.  Please see Great American Insurance Company’s Legal Disclosures/Terms and Conditions here.  https://www.greatamericaninsurancegroup.com/contact/legal-disclosures

 

These posts are for informational purposes only and should not be considered as specific financial, legal or tax advice. Depending on your individual circumstances, the strategies discussed in this post may not be appropriate for your situation. Always consult your legal or tax professionals for specific information regarding your individual situation. In providing such information, Great American does not warrant that all potential hazards or conditions have been evaluated or can be controlled. The liability of Great American Insurance Company is limited to the terms, limits and conditions of the insurance policies underwritten.  Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the DC. Coverage features and product availability may vary by state.  © 2022 Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202.  All rights reserved.  Please see Great American Insurance Company’s Legal Disclosures/Terms and Conditions here.  https://www.greatamericaninsurancegroup.com/contact/legal-disclosures


 

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