Twelve Ways to Reduce Risk
1. Use good hiring practices – do thorough pre-employment screening
Hiring the wrong person creates enormous exposure and can result in more injury claims, lost time, theft and injury to others.
2. Identify accident patterns. Allocate your losses by location and department
When you know where and what types of accidents are occurring, you can correct problems before they happen.
3. Review your employee classifications. Accuracy can save you money
No one knows your business better than you do. There are hundreds of job classifications and insurance companies place employees into classes based on your type of business. Mistakes often occur and job functions change, making regular classification reviews important.
4. Check your Experience Modification Factor
Calculations are usually based on the previous three years – so mistakes can compound costs for years.
5. Make sure all your subcontractors are insured
Obtain certificates of insurance from all subcontractors and be sure they are updated regularly.
6. Provide employee benefits
Insured employees are less likely to file fraudulent claims.
Employees with benefits feel more positive and are more committed to their jobs.
7. Stay in touch with injured workers
Let them know you’re concerned and value their services. Emotional separation from an employer can fuel the decision by the employee to hire legal counsel and delay the return to work, thus increasing costs.
8. Have a return to work program
Give your injured employee modified duty while recovering. An effective return-to-work program not only decreases the cost of your claim, but also engages your employees by reaffirming your commitment to them.
9. Investigate thoroughly and maintain accurate, complete records
When a claim is litigated, 18 to 24 months may pass. Good recordkeeping will help minimize the cost of the claim and identify potential fraud.
10. Report claims promptly and manage the claim to closure
The sooner the injury is reported, the sooner the claim can be managed. Staying in touch with the employee, medical providers and other involved parties, can help you close out the claim faster. Open claims impact your experience modification factor and therefore increase your costs.
11. Train and involve your employees in safe work practices
Encourage your employees to be proactive in identifying potential unsafe work practices and train and motivate employees to think and work safely.
12. Demonstrate your commitment to injury prevention
Make safety a component of employee reviews. Hold management accountable for safety performance. If safety is viewed as a top priority, fewer accidents will occur.
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The Seltzer Group with locations in Schuylkill Haven, Orwigsburg, andPottsville,Pennsylvania, serves businesses and individuals locally, regionally, and on the national level. The Seltzer Group is a proud member of the Keystone Insurers Group.
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