There is no doubt workers’ compensation is a big expense for employers. There are over 4.1 million workplace injuries in the Unites States each year, according to the Occupational Safety and Health Administration (OSHA). Employers spend about $155 billion on work-related injuries each year.
A workplace injury can be costly to your business. An injured employee creates a greater workload for other employees, increases workers’ compensation costs, lost workdays, and means additional training, which can all be a drain on your business. There are a few key things you can do to help create and manage a safe work environment.
If an employee is injured on the job, employers are legally liable to the employee. Workers’ compensation will even cover employees who are involved in auto accidents while away from the worksite, if the accident occurred while on the job.
What an Agent Does to Reduce Employers’ Workers’ Comp Costs
The good news is there are many actions an insurance agent can take to help employers reduce their workers’ compensation costs.
On their own, they:
In conjunction with you, they:
Agents Help You Deal with Legal Issues Related to Workers’ Comp
Agents can also help employers understand how to best manage the legal issues facing workers’ compensation. Here are examples of how your business will need to respond to various statutory and legal issues over the next few years.
Agents Provide Assistance with OSHA Audits
Agents can also help employers when OSHA comes calling, most often with no advanced warning. Typically, an OSHA inspector simply shows up at your firm to conduct an inspection. However, there are a number of things you can do to reduce your stress and to ensure that your audit goes smoothly. It is always best to think about how your facility would respond to OSHA knocking at the door before it happens.
Here are some items to keep in mind when preparing for a visit from OSHA:
Other Ways You Can Manage Workers Compensation Performance
It’s great to have an independent agent work with you to help reduce costs and stress associated with workers’ compensation, but there are some steps employers can take themselves.
Training:
Safety:
Administrative:
We Work for You
As a business owner, you go to great lengths to provide a safe working environment for your employees. Workers’ compensation continues to be a significant cost driver for most employers, and understanding all the factors that can drive your workers' compensation cost can often be complex and time consuming.
We can help you save some time and cut through the complexity. We are Independent Agents, free to choose the best carrier for your insurance needs. We do not work for an insurance company; we work for you. We work on your side when you have a loss, and follow through to see that you get fair, prompt payment and service. Leap / Carpenter / Kemps Insurance Agency represents a carefully selected group of financially strong, reputable insurance companies; therefore, we are able to offer you the best coverage at the most competitive price.