subject: California Workmans' Compensation Insurance - Minimizing Accidents and Their Severity [print this page] California Workmans' Compensation Insurance - Minimizing Accidents and Their Severity
California Workmans' Compensation Insurance premiums are some of the highest in the nations, and continue to rise. Businesses looking to reduce their workmans' compensation insurance costs should pay special attention to reducing the frequency and severity of injuries. The fewer accidents, the less costs will be billed to the insurance carrier which will ultimately translate to lower insurance premiums.
Accidents happen, but if you notice a repeating pattern of similar injuries, you know you have some work to do. Check and see what the possible cause of injury is, and directly address the issue. In addition, instituting safety regulations and providing safety training for employees will go a long way in reducing accidents and their related cost. In addition to the frequency of accidents, the severity of any workplace accident also needs to be examined as it also directly impacts your California workmans' compensation insurance premiums.
Once an injury occurs, the employee will generally receive medical care. They will be examined by an industrial doctor who will determine the severity of their injury, the necessary medical care, and if they will be required to take time off work. The insurance company will be responsible to pay for all related medical, rehabilitation and indemnity (time off of work) costs. The longer an employee receives medical care and remains off work, the more the insurance company pays.
Return Too Work Programs
It is in the best interest of the employer to return the employee to work as soon as possible. If an employee is unable to resume their previous job function, the employer is encouraged to incorporate a "Modified Return To Work" Program whereby the employee can return to payroll while performing permitted job functions. This can significantly reduce the indemnity costs and minimizes the negative impact to the employer's insurance policy. An employer should also be vigilant in reviewing open claims with the insurance carriers and to have them closed and removed from the record as soon as possible.
While you may earnestly want to reduce your California workmans' comp insurance rates, some of these tasks may sound a bit daunting, or simply beyond the scope of expertise for the average employer. Many of the complex guidelines and regulations require an in-depth knowledge of the law, and most businesses do not employ experts on staff to manage the process.
However, don't despair! There are many resources available that assist small employers create, implement and administer effective safety programs. While you may not want to invest the time or money in such a service, consider the long term savings you will enjoy by reducing your Experience Modification and rates. Suddenly, the upfront expense of hiring a professional will be an easy investment choice.
welcome to Insurances.net (https://www.insurances.net)
