No one likes workers comp claims. Not the employer. Not the insurance company. And certainly not the person who got hurt.
In addition to the cost of the claim itself, employers must hire and train a replacement and deal with the lost productivity and associated business disruption. Chris Bassler, of Bassler & Co., a Northbrook-based insurance broker, says these collateral costs are four to seven times the cost of the claim itself.
It’s in everyone’s best interest to cut down injuries and reduce claims.
One way is training and education. Some insurers actually get involved personally, like Bassler’s company: “We help develop safety programs and give safety presentations which reduce the risk of accidents.” He explains that often employees get lax about good safety habits. It’s a simple matter to remind them of the basics, like how to properly climb a ladder, safely operate fork lifts and to keep one hand free while carrying tools up and down stairs. Insurance companies take note when employers have written safety policies and proper training, and it’s reflected in the way they quote rates. And safe organizations have lower MOD rates.
Safety training and education don’t stop there, though. Controlling substance abuse and improving wellness both play a role in safety and workers comp claims. InOut Labs can help you with both. Call us.