Midwest Family Advantage Insurance Company (MFA) is fully owned by Midwest Family Mutual Insurance Company (MFM). MFA started in 2017 to offer workers’ compensation insurance to businesses other insurers find tricky to cover.
A Brief History of Midwest Family Advantage Insurance Company
In 1891, Midwest Family Mutual Insurance Company founded itself. It’s a mutual insurance company, meaning policyholders own it. They’ve been giving workers’ compensation insurance to Midwest businesses for a long time.
Mission
MFA aims to offer workers’ compensation insurance to businesses other insurers find tough to cover. They promise their policyholders full insurance, great customer service, and programs to reduce losses.
Values
Here are MFA’s main values:
- Commitment to Policyholders: MFA promises the best insurance and service to its policyholders.
- Integrity: MFA vows to run its business with the utmost integrity.
- Innovation: MFA is all about creating new insurance stuff to help policyholders.
- Mutualism: MFA is owned by its policyholders. They promise to work for their policyholders’ benefit.
Contact Details of Midwest Family Advantage Insurance Company
| Contact Information | |
|---|---|
| Phone | 1-800-225-5636 |
| Website | Midwest Family Advantage |
| Mailing Address | |
| Midwest Family Advantage Insurance Company | |
| P.O. Box 1270 | |
| West Des Moines, IA 50265 | |
| Workers’ Compensation Email |
Products and Services Offered by Midwest Family Advantage Insurance Company
Midwest Family Advantage Insurance Company (MFA) insures businesses for workers’ compensation. They cover businesses that other insurers find tricky. MFA has different products and services to help manage the risk, like:
- Loss Cost Reduction Programs: MFA has programs to cut down the risk of accidents at work. These programs help find and fix hazards, teach safety rules to employees, and set up plans for injured workers to return to work.
- Claims Management Services: MFA helps businesses quickly handle workers’ compensation claims. They assist in investigating claims, figuring out benefits, and negotiating settlements with injured workers.
- Safety Consulting Services: MFA provides safety consulting to identify and remove workplace hazards. They help with safety audits, create safety plans, and train employees.
Apart from these, MFA offers other services, including:
- Workers’ Compensation Insurance Audits: MFA helps businesses fix mistakes in their insurance classifications to lower premiums.
- Workers’ Compensation Insurance Training: MFA has training programs to educate employees about safety and workers’ compensation benefits.
- Workers’ Compensation Insurance Return-to-Work Programs: MFA assists businesses in making plans for injured employees to return to work, reducing the time and cost of workers’ compensation claims.
Premium Costs
Midwest Family Advantage Insurance Company (MFA) figures out the cost of workers’ compensation insurance based on a few things.
They look at what kind of business it is, how big it is, where it’s located, and its history of claims. MFA gives businesses different plans to help manage their insurance costs.
Payment Options
MFA gives options for paying the workers’ compensation insurance:
- Monthly: Businesses can pay a bit each month, spreading the insurance cost over time.
- Quarterly: Businesses can pay every three months, cutting down on paperwork and costs.
- Annually: Businesses can pay once a year, saving on interest charges.
Discounts
MFA also gives discounts for workers’ compensation insurance:
- Safety Discounts: If a business is safe, it might get a discount on premiums.
- Loss Control Discounts: Businesses using loss control programs might get a discount on premiums.
- Group Discounts: If a business is part of certain groups, they might get a discount on premiums.
Promotional Offers
MFA might have special offers sometimes. This could be discounts for new policyholders or businesses switching from another insurer.
Process of Filling Claims With Midwest Family Advantage Insurance Company
Filing a Claim with Midwest Family Advantage Insurance Company (MFA)
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Report the Claim
- Contact MFA: First, tell MFA about the claim. You can call 1-800-225-5636, report it online on the Insured Portal, or inform your agent.
- Provide Information: When reporting, share basic details like your name, policy number, when the incident happened, and a short description of what happened.
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Investigate the Claim
- Assign an Adjuster: MFA will give an adjuster to your claim. This person will check if MFA is responsible for the damages.
- Gather Evidence: The adjuster collects proof, like medical records, witness statements, and photos of where it happened.
- Determine Liability: The adjuster looks at the evidence to decide if MFA is responsible. If yes, they figure out how much to pay.
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Settle the Claim
- Negotiate Settlement: The adjuster talks with the person claiming to agree on a payment. This can be a one-time amount or regular weekly payments.
- Release of Liability: Once both sides agree, the person getting the payment signs a paper saying MFA isn’t responsible for anything else related to the damages.
Ratings
Midwest Family Advantage Insurance Company (MFA) is a newer company, so it doesn’t have a long rating history. But, it got good ratings from top agencies:
- AM Best: A+ (Superior)
- Fitch Ratings: A- (Excellent)
- Standard & Poor’s: A- (Very Strong)
Reviews
MFA got positive reviews from policyholders online:
- “I’ve been with MFA for years. They’re great at answering my questions and settling claims quickly.”
- MFA has competitive rates and excellent customer service. I’d recommend them for workers’ compensation insurance.”
- “MFA protects my business well. They’re always there to help.”
Complaints
MFA has a few complaints, but they usually solve them quickly and fairly:
- “MFA denied my claim, but after I appealed, they reversed and paid.”
- Had a policy problem, but MFA’s customer service fixed it quickly.
- “Emailed a question, got a prompt and helpful reply.”
Resolutions
MFA is good at fixing complaints quickly and fair. They have a team trained to help and a process to handle complaints fairly and neutrally.
Affiliations and Partnerships
Midwest Family Advantage Insurance Company (MFA) works with various organizations, including:
- Workers’ Compensation Insurance Rating Bureau (WCIRB): They set national rates for workers’ compensation insurance.
- National Council on Compensation Insurance (NCCI): They give info about workers’ compensation insurance.
- independent insurance Agents of America (IIAA): This is a group of independent insurance agents across the country.
- National Association of Mutual Insurance Companies (NAMIC): They’re a group of mutual insurance companies.
Being part of these groups helps MFA stay current with industry trends. This helps them offer the best insurance and service to their policyholders.
MFA also teams up with other organizations:
- Safety Training Organizations: They work with these groups to give discounts on safety training courses to policyholders.
- Workers’ Compensation Claims Management Companies: MFA partners with these companies to offer claims management services to policyholders.
- Workers’ Compensation Return-to-Work Programs: MFA collaborates with these programs to help policyholders set up return-to-work plans for injured employees.
These partnerships help MFA offer a complete set of workers’ compensation insurance products and services to its policyholders.
Benefits of Joining Midwest Family Advantage Insurance Company
- Complete Workers’ Compensation Coverage:
- MFA has a range of workers’ compensation insurance plans for all business sizes. These cover workplace accidents, occupational illnesses, and death benefits.
- Competitive Premium Rates:
- MFA is dedicated to giving policyholders competitive rates. Their team works with you to make a personalized insurance plan within your budget.
- Great Customer Service:
- MFA is committed to offering excellent customer service. Their experienced staff is there to answer your questions and help with your insurance needs.
- Loss Control Programs:
- MFA provides programs to lower the risk of workplace accidents. These help identify hazards, train employees on safety, and create plans for injured workers to return to work.
- Claims Management Services:
- MFA helps businesses quickly settle workers’ compensation claims. They assist in investigating claims, figuring out benefits, and negotiating settlements with injured employees.
- Safety Consulting Services:
- MFA offers safety consulting to find and remove workplace hazards. This includes safety audits, creating safety plans, and providing employee training.
- Financial Stability:
- MFA is financially stable with a successful history. They have a strong balance sheet and a record of paying dividends to policyholders.
- Commitment to Mutualism:
- MFA is owned by its policyholders, making it a mutual insurance company. They promise to work in the best interests of policyholders.
FAQ’s
1: What types of businesses does Midwest Family Advantage Insurance Company (MFA) insure?
MFA ensures various businesses, including:
- Construction companies
- Manufacturing companies
- Wholesale and retail businesses
- Professional services firms
- Nonprofit organizations
2: What is the process of filing a claim with MFA?
To file a claim with MFA, call 1-800-225-5636, report online through the Insured Portal, or tell your agent. Provide basic information like your name, policy number, and the incident’s date and time.
3: What does MFA do to help businesses reduce their risk of workplace accidents?
MFA provides loss control programs to cut down on workplace accidents. These programs help find and remove hazards, train employees on safety, and set up return-to-work plans for injured workers.
4: What is the difference between MFA and a traditional workers’ compensation insurance company?
MFA is a mutual insurance company owned by policyholders. Traditional companies are owned by shareholders. Mutual companies work for policyholders’ benefit, while traditional ones aim to maximize shareholder profits.
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