Biggest Mistakes Companies Make with Workers' Comp. Insurance Tracks •
Have supervisors been trained so they understand their employer and not the insurance company pays for all injury costs?
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Are supervisors trained on how to manage an injured employee successfully?
What are employee attitudes and perceptions of their immediate supervisors and upper level management? How do you know?
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Has an outcome-based analysis of current claims adjusters been performed to evaluate results compared to “best practice” standards?
By answering these questions, you should come to the realization that there is more to driving down workers’ compensation costs than just “getting bids.”
Once you realize how vastly overcharged you are for workers’ compensation insurance, education is the critical step toward solving the problem. Learning more about how and why you are overcharged helps you to implement comprehensive, practical and proven ways to reduce workers’ compensation insurance costs.
One thing is certain, “shopping the market” is neither the best nor the only way to address the management of workers’ compensation insurance. It also should not be done alone. Finding a qualified workers’ compensation advisor, someone who has access to the strategies and software specifically designed to analyze your experience modification factor, can lead you to a satisfactory solution, one that uncovers mistakes and obtains proper credits.
Workers’ compensation is too expensive and complicated to leave to chance. If you choose it based solely on “the lowest bidder,” you will pay the price.
About the Company
Trailer Makers Insurance is a team of highly trained Risk Management and Insurance professionals who work to protect your manufacturing operation and help you to lower your total cost of risk. The company has relationships with all major insurance carriers and will work to give you the best premiums and coverage possible. For more information, visit
www.trailermakersins.com, call (478) 397-6086 or email the author at
adearing@trailermakersins.com.
www.NATM.com
March/April 2016
53
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