Tips from the Helpful Brokers at The Business Insurance Center
Many expenses are involved in running a business. You depend on your sales to generate revenue upon the delivery of your product or service. Between the moment that a sale is made and a customer pays their invoice, numerous steps must be accomplished. If an employee gets injured or becomes ill during their work responsibilities, productivity is interrupted. Injuries are threatening for all parties involved, from the employee to the employer. How can you reduce injury and thereby, worker’s compensation insurance claims?
Reduce potential claims and protect your employees with proactive safety steps. Another step in protection is to contact your experienced worker’s compensation insurance broker at The Business Insurance Center. We are happy to assist you in reviewing your existing policy and offering solutions to fill any gaps. We also enjoy partnering with you to educate you on the way you can save on rates. Give us a call and see the difference it makes to have a knowledgeable broker in your corner.
You Can Reduce Worker’s Compensation Claims Starting with 4 Action Steps
Reducing the number of claims your employees experience starts with you taking the four proactive steps listed below:
- Prioritize Safety: The first step is to be proactive and have a written safety plan in place. It should include disciplinary action for breaking policy and reward systems for following the protocols. Your entire management team should be on board and ensure proper execution of roles and responsibilities. A cohesive and fair implementation of the safety plan, including regular training, will lead to a workplace environment with fewer injury claims.
- Take Immediate Action When The Claim Occurs: There will be claims, even when all safety measures have been taken. Time is of the essence so complete an accident report in as much detail as possible, take photographs, and talk to any witnesses. Your first report of the injury should be sent within 24 hours to your insurance company. You should also require a drug test of the employees involved. If you already have a drug testing policy, this should fit right in.
- Report Suspicions of Fraud Immediately: Unfortunately, some people will lie. If you suspect fraudulent activity, report it immediately to your insurance company. It will sometimes pay to investigate any suspicion of fraud. For example, imagine if a worker who filed a claim for a back injury was photographed digging a trench. If you had suspected this, you won’t win the suit without the evidence from an investigation.
- Review Your Current Policy: Worker’s compensation insurance is not a one-time-and-never-look-at-again purchase. It pays to review your policy for accuracy and to see if the claimant is a repeat offender. Additionally, you will want to check that your experience modification factors reflect the actual number of claims your company files. Your insurance broker can assist you with this.
Reduce Your Worker’s Compensation Insurance Claims with the Right Plan
Lower your company’s overall expenses when you make an action plan to increase safety measures and decrease claims. For over 30 years, the knowledgeable brokers at The Business Insurance Center have worked with small businesses and the self-employed across a wide range of markets. We understand that each enterprise is unique and strive to incorporate the best coverages to meet your requirements. Discover the difference when you contact us today.
Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about purchasing worker’s compensation insurance. We have a 24/7 call center to serve you and an online Live Chat operator.