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Minimizing the Cost of Workers’ Compensation Insurance is a Goal for Every Business!
It happens every day in workplaces across America … an employee throws out their back while loading an order, a piece of machinery falls on a team member, an employee slips and falls on a wet or oily surface, or any number of workplace-related injuries or illnesses.
Workers’ compensation insurance is required by law in almost every state. The laws are designed to ensure payment by employers for some part of lost wages, or in the worst case, death – benefits of employees – for injuries suffered in the course of their employment.
Workers’ Compensation Insurance Protects You and Your Employees if and When:
- An employee is injured in an auto accident while driving when representing the company
- An employee gets hurt or becomes ill while on the job – from carpel tunnel to other more significant injuries or illnesses
- An employee gets injured in your offices or on a worksite
- You are sued by an employee for workplace conditions that cause injury or illness
Few things frustrate businesses more than dealing with the ever-increasing cost of workers’ compensation insurance. Here are just a few of the symptoms of increasing workers’ compensation costs:
- Enormous rate increases – based on others’ experiences not necessarily yours
- Increased use of emergency rooms – for primary versus urgent care
- Errors in “experience modification calculations”
- Incorrect reporting of claims
- Continued increases in fraudulent employee cases
- Lack of proper loss control engineering
Butwin Insurance Group was cited as the “Compbusters of Workers’ Compensation” by Cablevision’s Business to Business and Beyond for our knowledge and expertise in this area.
Here are just a few of the potential solutions, that go well beyond the right insurance policy, for lowering the cost of your workers’ compensation insurance:
- Thorough experience modification analysis
- Correct job classifications
- Ergonomic evaluations
- Use of medical providers at hire and to confirm injuries
- Increased safety training and ongoing safety programs
- Loss-trend analysis
- Return-to-work programs
We know we can provide the tools to help you better manage employee risk while providing the insurance solutions that may further reduce the total cost of your workers’ compensation insurance program.