One of the highest costs to businesses in California is Workers Compensation Insurance. For those that have done business in California for at least the last 15 years, you have experienced roller coaster like moves in rates. Those rate swings seem to have come out of left field some in some years, with political and other market forces working behind the scenes to artificially impact those rates. Those factors are mostly out of your control. What is within your control is how you approach the issue of safety, how you handle incidents when they do occur, what processes you have in place to mitigate false claims as well as managing other variables. How you address these areas will have a tremendous impact, positively or negatively, on your experience loss modification.
One way to deal with potential negative events that would adversely impact your experience modification is to address problems at the earliest opportunity. Some of my clients use this mobile first aid service, click here for details, to help address work site injuries as they occur. The service is a 24 hour, 7 day a week operation and they offer a host of other services, as listed on the document along with pricing, designed to help run a tight ship with respect to your field workers. Beyond the services they offer, I think it is a good idea to have an independent third party tend to these matters as that could benefit you in the event of litigation.
As usual, I am not affiliated with this organization in any way. It seems like a good service worth investigating to help address these injury events as they occur. As I mentioned earlier, there are some factors that are out of your control with respect to Workers Comp Insurance. Creating and maintaining a culture of safety is within your control and you should do everything you can to maximize this area as it will result in substantial savings over time.