There are over 4.1 million workplace injuries in the Unites States each year, according to OSHA. Employers spend about $155 billion on work related injuries each year. There is no doubt workers’ compensation is a big expense for employers.
The good news is there are many actions an insurance agent can do to help employers reduce workers’ compensation costs.
- Search the market for options and program designs that fit the individual needs of each employer.
- Help build a bridge between the insurer and business.
- Educate employers about how workers’ compensation works.
- Work with employers in the development of a safety program.
- Analyze all classifications to make sure they are correct.
- Help the company prepare for the workers’ compensation premium audit.
- Provide the framework for an early return to work program.
- Help the company review accidents and claims to determine trends and then create safety solutions.
- Facilitate a claims review with the insurer to make sure all claims are being processed correctly.
- Be a resource to the business by bringing in other service providers to solve problems; i.e., attorneys, safety professionals, and third party claims consultants.