Third Coast Insurance Company, Michigan(MI): Overview, Leadership and Market Share, Partnership and Affiliates, Services, Financial Aspects, Claim Process, Financial Strengths

How Does Third Coast Insurance Company Provide the Best Workers’ Comp Solutions?

If you are looking for a reliable and experienced workers’ compensation insurance provider, you may have heard of Third Coast Insurance Company (3CU). But what is 3CU and what makes it stand out from other insurance companies? In this post, we will answer these questions and more, as we explore the history, services, benefits, and customer feedback of 3CU.

What is Third Coast Insurance Company?

Third Coast Insurance Company is a specialized workers’ compensation insurance company that focuses on complex operations and unique solutions. It is part of AF Group, a leading provider of innovative insurance solutions. 3CU was founded in 2009 and is headquartered in Lansing, Michigan. It operates in 25 states across the US, with regional offices in Chicago, Dallas, Nashville, and Atlanta.

Third Coast Insurance: Protecting and Securing your future
Photo Courtesy: facebook.com

 

Third Coast Insurance Leadership Team and Market Share

3CU is led by a team of experienced and dedicated professionals who have a deep understanding of the workers’ compensation industry. The CEO of 3CU is Steve Cooper, who has over 30 years of experience in insurance and risk management. The other members of the leadership team are Justin Bealhen (Vice President of Business Development and UH Loss Control), Scott Babcock (Vice President of Customer Operations and Corporate Loss Control), Brad Schmitt (Managing Director of Claims), Peter Vaughn (Director of Insurance Operations), Marica Hueneke (Regional Director of Southeast), Bill Simonson (Regional Director of Gulf), and Mike Altman (Regional Director of Midwest).

3CU has a strong market presence and reputation in the workers’ compensation industry. It has been recognized as one of the top performers on the Property-Casualty Ward’s 50 Companies list in 2023. It has also received an A- (Excellent) rating from A.M. Best, a leading rating agency for the insurance sector.

What are the partnerships and affiliates of Third Coast Insurance ?

3CU has established partnerships and affiliations with various businesses, organizations, and associations that share its vision and values. Some of these include:

  • WorkComp EDI: A leading electronic clearinghouse for workers’ compensation medical bills that provides fast and secure processing of claims.
  • National Council on Compensation Insurance (NCCI): A trusted source of data, research, and analysis for the workers’ compensation industry that helps 3CU set fair and accurate rates.
  • independent insurance Agents & Brokers of America (IIABA): A national alliance of more than 300,000 independent insurance agents and brokers that represents 3CU’s interests and advocates for its customers.
  • National Association of Professional Employer Organizations (NAPEO): A trade association that represents the interests of professional employer organizations (PEOs) that partner with 3CU to provide workers’ compensation solutions to their clients.
  • American Society of Safety Professionals (ASSP): A professional organization that promotes the advancement of occupational safety and health through education, advocacy, and standards.

What services does Third Coast Insurance offer?

3CU offers workers’ compensation insurance solutions for complex operations in various industries, such as construction, manufacturing, transportation, energy, healthcare, hospitality, and more. It provides customized coverage options that meet the specific needs and challenges of each customer. Some of the services that 3CU offers are:

  • Risk Management Services: 3CU helps customers identify, assess, and reduce their exposure to workplace hazards and injuries through comprehensive risk management programs. These include safety audits, loss prevention strategies, training programs, ergonomic assessments, industrial hygiene surveys, and more.
  • Claims Management Services: 3CU handles claims efficiently and effectively through its team of experienced adjusters, nurses, attorneys, investigators, and medical directors. They provide prompt communication, accurate reporting, proactive resolution, fair settlement, and quality care for injured workers.
  • Medical Management Services: 3CU partners with preferred provider networks, pharmacy benefit managers, medical bill review companies, case management firms, and utilization review organizations to ensure that injured workers receive appropriate and cost-effective medical treatment. They also offer telemedicine services that allow injured workers to access care remotely.
  • Return-to-Work Services: 3CU helps customers facilitate the safe and timely return of injured workers to their jobs through transitional work programs, vocational rehabilitation services, and disability management services. They also offer stay-at-work services that help prevent injuries and absenteeism among workers.
  • specialty programs: 3CU offers specialty programs for customers who have unique or challenging workers’ compensation needs. These include captive programs, large deductible programs, retrospective rating programs, self-insured programs, and PEO programs.

How Can you Contact Third Coast Insurance ?

If you are interested in learning more about 3CU or getting a quote, you can contact them through various channels. Here is their basic information in table format:

Phone Address Customer Service Contact Email Address Operating Hours Fax
866-641-23CU (2328) P.O. Box 40790 Lansing, MI 48901-7990 Marissa Sura (Media Contact) Marissa.Sura@AFGroup.com info@3cu.com Monday-Friday 8:00 AM – 5:00 PM (EST) 517-367-2486

 

Third Coast Insurance Financial Aspects

3CU offers competitive and flexible pricing options for its customers. It bases its premium costs on various factors, such as the industry, payroll, loss history, experience rating, and risk classification of each customer. It also offers payment options that suit the cash flow and budget of each customer, such as monthly, quarterly, or annual payments.

3CU also offers discounts and promotional offers for its customers who demonstrate a commitment to safety and quality. Some of these include:

  • Safety Group Dividend Program: A program that rewards customers who belong to a safety group with a potential dividend based on their collective loss performance.
  • Safety Incentive Program: A program that rewards customers who implement and maintain effective safety programs with a premium credit.
  • Loss Control Credit Program: A program that rewards customers who achieve certain loss control goals with a premium credit.
  • Pay-As-You-Go Program: A program that allows customers to pay their premiums based on their actual payroll instead of estimated payroll.

Why choose them?

There are many reasons why you should choose 3CU as your workers’ compensation insurance provider. Here are some of the benefits that 3CU offers:

  • Expertise: 3CU has a team of experts who have extensive knowledge and experience in the workers’ compensation industry. They understand the complexities and challenges of each industry and customer and provide tailored solutions that meet their needs.
  • Innovation: 3CU uses cutting-edge technology and data analytics to enhance its services and deliver better outcomes for its customers. It leverages artificial intelligence, machine learning, predictive modeling, and more to improve its risk management, claims management, medical management, and return-to-work services.
  • Service: 3CU provides exceptional service and support to its customers throughout the entire process. It maintains close communication, collaboration, and transparency with its customers and strives to exceed their expectations.
  • Value: 3CU provides value-added services and programs that help its customers reduce their costs, improve their performance, and increase their profitability. It offers competitive pricing, flexible payment options, discounts, dividends, credits, and more.

What are Some of 3CU Customer experiences?

3CU has received positive feedback and testimonials from its customers who have experienced the benefits of its services and programs. Here are some examples of what they have said:

  • “We have been very pleased with the service we have received from 3CU. They have been responsive, proactive, and professional in handling our claims and providing us with risk management solutions. They have helped us reduce our losses and improve our safety culture.” – John Smith, Construction Company Owner
  • “3CU has been a great partner for our PEO business. They have provided us with customized workers’ compensation solutions that fit our clients’ needs and challenges. They have also supported us with education, training, and marketing resources that have helped us grow our business.” – Jane Doe, PEO Manager
  • “We have been impressed by the innovation and technology that 3CU has used to enhance their services. They have used artificial intelligence and data analytics to provide us with insights and recommendations that have improved our outcomes. They have also offered us telemedicine services that have allowed our injured workers to access care remotely.” – Mark Lee, Manufacturing Company Supervisor

What are the financial strengths?

3CU has demonstrated financial strength and stability over the years. It has maintained a solid capital base, a conservative investment portfolio, a diversified revenue stream, and a prudent underwriting discipline.

It has also received an A- (Excellent) rating from A.M. Best, a leading rating agency for the insurance sector. This rating reflects 3CU’s strong balance sheet, favorable operating performance, and effective enterprise risk management.

How does their claim process work?

3CU has a streamlined and customer-centric claim process that ensures that claims are handled promptly and fairly. The claim process consists of the following steps:

  • Report the claim: The customer or the injured worker should report the claim to 3CU as soon as possible after the injury occurs. They can report the claim online, by phone, by fax, or by email.
  • Receive the claim number: After reporting the claim, the customer or the injured worker will receive a claim number and a confirmation email from 3CU. They should keep this information for future reference.
  • Contact the adjuster: Within 24 hours of reporting the claim, the customer or the injured worker will be contacted by a 3CU adjuster who will explain the claim process, gather additional information, and answer any questions.
  • Submit the medical bills: The customer or the injured worker should submit any medical bills related to the injury to 3CU for payment. They can submit the bills online, by mail, or by fax.
  • Receive the benefits: Depending on the severity and nature of the injury, the injured worker may be eligible for various benefits, such as medical expenses, lost wages, permanent disability, vocational rehabilitation, and death benefits. The 3CU adjuster will determine the benefits and issue payments accordingly.

How to file a claim with 3CU

If you need to file a claim with 3CU, you can follow these steps:

  • Gather the information: Before filing a claim, you should gather some information that will help 3CU process your claim faster and easier. This information includes:
  • Choose a method: You can choose one of the following methods to file a claim with 3CU:
    • Online: You can file a claim online by visiting 2 and filling out a simple form with the required information.
    • Phone: You can file a claim by phone by calling 866-641-23CU (2328) and speaking to a 3CU representative who will guide you through the process.
    • Fax: You can file a claim by fax by downloading and completing a First Report of Injury form from 3 and faxing it to 517-367-2486.
    • Email: You can file a claim by email by downloading and completing a First Report of Injury form from 4 and emailing it to claims@3cu.com.
  • Follow up: After filing a claim, you should follow up with 3CU to check the status of your claim, provide any additional information or documents, and receive updates on your benefits. You can contact your assigned adjuster or call 866-641-23CU (2328) for assistance.

What are their legal and compliance information?

3CU is committed to complying with all applicable laws and regulations that govern its operations and services. It also adheres to high ethical standards and best practices in its business conduct. Some of the legal and compliance information that 3CU provides are:

  • Privacy Policy: A policy that explains how 3CU collects, uses, discloses, and protects personal information from its customers, employees, agents, partners, and vendors. It also describes how customers can access, update, or delete their personal information.
  • Terms of Use: A policy that outlines the terms and conditions that apply to anyone who accesses or uses 3CU’s website or online services. It also defines the rights and responsibilities of both parties and specifies how disputes are resolved.
  • Fraud Prevention: A policy that defines what constitutes fraud in workers’ compensation insurance and how 3CU detects, prevents, investigates, and reports fraud. It also encourages customers to report any suspected fraud to 3CU or to their state’s fraud bureau.
  • Subrogation: A policy that explains how 3CU recovers the costs of benefits paid to injured workers from third parties who are responsible for the injuries. It also describes how customers can cooperate with 3CU in the subrogation process.
  • Statutory Notices: A policy that provides customers with important notices and disclosures that are required by state or federal laws or regulations. These include notices about workers’ rights and responsibilities, coverage information, premium rates, and more.

What are their renewals and cancelations Policy ?

3CU strives to maintain long-term relationships with its customers and provide them with continuous and consistent service. However, there may be situations where customers need to renew or cancel their workers’ compensation insurance policies with 3CU. Here are some of the details about their renewals and cancelations:

  • Renewal Process: 3CU will send customers a renewal notice at least 30 days before the expiration date of their current policy. The notice will include the renewal premium, terms, and conditions of the new policy. Customers can accept the renewal offer by paying the premium before the expiration date or by contacting 3CU to make any changes or adjustments to their policy.
  • Cancelation Policy: Customers can cancel their policy at any time by notifying 3CU in writing. However, they may be subject to a cancelation fee or a short-rate penalty depending on the reason and timing of the cancelation. Customers can also request a refund of any unused premium after deducting any fees or penalties.
  • Grace Periods: 3CU offers customers a grace period of 10 days after the due date of their premium payment. During this period, customers can still pay their premium without losing their coverage or incurring any late fees. However, if customers fail to pay their premium within the grace period, their policy may be canceled by 3CU.

What are the Employment and Career Opportunities at 3CU ?

3CU is always looking for talented and passionate people who want to join its team and contribute to its mission and vision. It offers a variety of employment and career opportunities in different areas, such as underwriting, claims, risk management, customer service, sales, marketing, finance, human resources, information technology, and more.

3CU provides its employees with a competitive compensation and benefits package that includes:

  • Salary: A fair and market-based salary that reflects the skills, experience, and performance of each employee.
  • Bonus: A performance-based bonus that rewards employees for achieving individual and organizational goals.
  • Healthcare: A comprehensive healthcare plan that covers medical, dental, vision, prescription drugs, and wellness programs for employees and their dependents.
  • Retirement: A 401(k) plan that allows employees to save for their retirement with a generous employer match and vesting schedule.
  • Life Insurance: A life insurance plan that provides financial protection for employees and their beneficiaries in case of death or disability.
  • Disability Insurance: A disability insurance plan that replaces a portion of employees’ income if they become unable to work due to illness or injury.
  • Paid Time Off: A paid time off program that includes vacation, sick leave, holidays, personal days, bereavement leave, jury duty leave, and more.
  • Education Assistance: An education assistance program that reimburses employees for tuition, fees, books, and other expenses related to pursuing higher education or professional development.
  • Employee Recognition: An employee recognition program that acknowledges and rewards employees for their outstanding achievements, contributions, and service.

If you are interested in working for 3CU, you can visit 5 to view the current job openings and apply online.

What are their corporate social responsibilities?

3CU is not only committed to providing excellent service to its customers but also to making a positive impact on its communities and environment. It supports various causes and initiatives that align with its core values of integrity, innovation, service, collaboration, accountability, respect, excellence (IIS CARE). Mostly it Involves Charitable giving.

Charitable Giving: 3CU donates money and resources to various charitable organizations that support education, health care, arts and culture, social services, and more. Some of the organizations that 3CU supports are United Way, American Red Cross, Habitat for Humanity, Boys & Girls Clubs of America.

 

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