In focus: Amerisafe

Amerisafe is a US insurance provider held in the Positive Impact strategy. The company specialises in workers’ compensation insurance for small and mid-sized employers in hazardous industries, such as construction, agriculture, trucking and manufacturing. 

A personal approach

If an employee suffers an injury in the workplace, Amerisafe will cover their medical bills and provide compensation for lost income due to injury or death. The company ensures that workers in hazardous industries get access to adequate financial and medical assistance, while safeguarding their families’ basic needs following a work injury.

Amerisafe’s mission is to handle all claims with immediate and personable management and care. With this in mind, the company takes a face-to-face approach to cover. Amerisafe’s Field Safety Professionals (FSPs) live in proximity to policyholders, so they are able to attend promptly and in-person in the event of an incident. Supported by Nurse Case Managers, FSPs will generally be an injured worker’s sole point of contact, and will guide them through the process of medical treatment, rehabilitation and return to work. The company understands that a speedy recovery and return to work is the best outcome for all parties. 

Working with small companies to improve safety

Many of Amerisafe’s customers are small businesses without their own dedicated safety divisions or well-defined procedures. The company plays a dual role, not only providing insurance for companies that may be too small to be adequately covered by larger insurers, but also helping to educate and improve their safety standards.

It achieves this by having its FSPs, who are experts with first-hand experience in their respective industries, attend prospective customers’ workplaces. FSPs will carry out safety inspections and provide recommendations before quoting for an insurance policy. In certain cases, the company will mandate changes before providing cover, to minimise the risk of traumatic and debilitating injuries to workers.

The company also provides comprehensive training on an ongoing basis, both in-person and through its online education and training centre. Training programmes are tailored to fit the industries the company serves, and cover topics ranging from accident investigation and fire prevention to fall protection, welding and personal protective equipment. This prioritisation of safety, which the company refers to as ‘Safe above all’, helps to drive a lower frequency and severity of claims, which benefits Amerisafe, its customers and their employees.

Climate engagement

In July 2023, we engaged with Amerisafe on a number of topics, including greenhouse gas (GHG) emissions. We asked the company to begin disclosing GHG emissions, with a view to cataloguing indirect emissions and setting emission reduction targets. The company ensured us that it would publish Scope 1 and 2 emissions in the following year’s reporting cycle as a starting point. We will continue to monitor, and follow up in due course.

The information provided should not be considered a recommendation to purchase or sell any particular security.
 

Source: Amerisafe, ‘Amerisafe ESG Report 2023’, (amerisafe.com).
 

Impact area: Better work and education
Primary SDG: SDG 8: Decent work and economic growth