Cincinatti, OH -(BusinessWire)- Great American Insurance Group recently announced the launch of an Oklahoma Option Employers Indemnity policy. The new coverage, offered through its Employer’s Comp Associates (ECA) Division, is available to any employer in Oklahoma who qualifies to opt out of the state’s Workers’ Compensation system.
Oklahoma passed SB 1062 on May 6, 2013, which became effective February 1, 2014. The law makes participation in the Oklahoma Workers’ Compensation system voluntary, giving employers the option to provide an alternative insurance program to cover on-the-job injuries. Great American’s policy was filed and approved by the Oklahoma Department of Insurance on April 23, 2014.
Great American’s Oklahoma Option Employers Indemnity coverage allows employers to customize an Employee Injury Benefit Plan to fit their unique needs. The product gives employers the opportunity to improve employee safety, lower costs and reduce lost time.
According to Mary Ford, Divisional Senior Vice President, “The Option is new to Oklahoma, but these products are not new to us. ECA has been offering alternative Workers’ Compensation programs in Texas for more than 20 years. Our team has years of experience specific to underwriting, claim administration and cost containment for these types of policies. We’re excited to bring our expertise to employers in Oklahoma so that they have additional options to gain more control over costs and claims while still providing for their employees’ well-being.”
Source: BusinessWire