BOSTON, Sept. 23, 2020 /PRNewswire/ -- To help mid-size construction companies drive business performance and lower the total cost of risk, Liberty Mutual Insurance has collaborated with Magellan Healthcare to provide a leading Employee Assistance Program (EAP) solution.
Now contractors can access a superior EAP at special rates to help employees address some of today's major stresses potentially impacting individual – and therefore company – performance: coronavirus, opioid prescription misuse and economic uncertainty.
"Providing access to a leading EAP is a natural extension of our holistic and empathetic approach to workers compensation," said Liberty Mutual's Distribution Construction Executive Ben Beauvais. "Contractors understand the direct link between stress, employee productivity and business performance. That's why we found overwhelming buyer and broker interest in accessing an EAP through a workers compensation carrier as we developed the offering."
However, as Liberty Mutual's Northeast Division Underwriting Manager for Construction Ryan Powers explained, the cost of EAPs can be a barrier. "While many mid-size contractors want to provide an EAP, they often can't due to expense constraints. Our offering helps mid-size contractors gain all the productivity enhancing benefits of an EAP at special rates."
Under the program, construction companies that are workers compensation policyholders of Liberty Mutual can access a proven EAP to help employees address mental health, substance abuse, financial and legal challenges and other concerns through coaching and counseling. Through such services, Magellan Healthcare, a wholly owned subsidiary of Magellan Health, has helped employers boost productivity and significantly reduce absenteeism.
More on the Liberty Mutual program can be seen here.
Liberty Mutual expects to expand the program to workers compensation policyholders in other industries.
Liberty Mutual offers workers compensation solutions through its Global Risk Solutions (GRS) division. More information on Liberty Mutual's approach to claims is available here.
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2019 gross written premium. We also rank 77th on the Fortune 100 list of largest corporations in the U.S. based on 2019 revenue. As of December 31, 2019, we had $43.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
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SOURCE Liberty Mutual Insurance