Throughout much of the country, declining Workers’ Compensation rates are music to employers’ ears. After all, that seems like long-awaited good news, particularly since Workers’ Compensation is more often than not viewed as a necessity and a significant cost of doing business. Yet, looking at Workers’ Compensation as a business necessity or a commodity is […]
If the anecdotal evidence can be trusted, it’s becoming more and more common that contractors are being put on notice that they will lose the opportunity to bid on jobs if their Workers’ Compensation Experience Mods hit a certain point. To ensure that general contractors aren’t disqualified, it appears that some risk managers are putting […]
Most business owners and managers purchase Workers’ Compensation in the wrong way. About 90 to 120 days before their policies expire, they put it out to bid and get quotes. Once in, they review the prices and usually select the policies with the lowest premiums. While this may sound like a good business approach, it’s […]
The National Safety Council’s (NSC) recently issued the report, Prescription Pain Medications: A Fatal Cure for Injured Workers, identifies 15 court cases from 2009 through 2015, where an employer was sued because of the prescribed use of opioids to treat workplace injuries. Many injured workers who were prescribed opioid painkillers have become addicted, suffered additional […]
Employers have spent a lot of time and money on the traditional solutions to slips, trips, and falls, which occur in almost every type of workplace, yet they still account for: More than 95 million lost work days per year – about 65 percent of all work days lost 15 percent of all accidental deaths […]
Many businesses accept on “good faith” that the Workers’ Comp audit is done correctly. Yet, the audit process is complex and prone to many errors and omissions. Since a Workers’ Compensation premium is estimated initially, the actual cost is determined through the premium audit, which can result in higher and unexpected costs. There are two […]
