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.
