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workers comp mistakes that will cost you

Avoid These Mistakes to Save on Workers Comp Insurance Copy

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While most business owners know that they need to have workers compensation insurance, they don’t give much thought to it. However, there are things to avoid if you want to save on Workers Comp Insurance costs.

Here are some of the mistakes to avoid.

Not Requiring Safety Training for Your Employees

Even if you feel like your business is part of a low-risk industry, it’s important to remember that the risk of employee injury is ever-constant. It’s vital to offer your employees workplace health and safety training. Your training program should educate your staff about the risks they face, how to mitigate these risks, and what to do if an accident occurs. When your employees understand risk factors associated with your business, they are less likely to sustain injuries on the job. This, in turn, will reduce your workers compensation insurance costs.

Not Reporting Claims

When business owners fail to report employee accidents or injuries to their insurers, they are making a costly mistake. While you might think that paying for an employee’s medical treatment out-of-pocket is cheaper than the official claims process, you are leaving yourself open to a considerable amount of risk. If your employee’s injuries end up being more extensive than you thought or if they decide to sue your company, you can no longer access your workers compensation coverage at this point. This means that you will be completely responsible for all of these expenses. Rather than leaving yourself and your business’s assets vulnerable to these possibilities, it’s far better to secure coverage through official channels.

These are some of the workers compensation insurance mistakes that could end up costing you. Do you need further advice or assistance with your business’s insurance? Don’t hesitate to contact the experts at Contractors Insurance Agency. Our dedicated team is ready to help you today.

workers comp mistakes that will cost you

Avoid These Mistakes to Save on Workers Comp Insurance

By | Archive, Uncategorized | No Comments

While most business owners know that they need to have workers compensation insurance, they don’t give much thought to it. However, there are things to avoid if you want to save on Workers Comp Insurance costs.

Here are some of the mistakes to avoid.

Not Requiring Safety Training for Your Employees

Even if you feel like your business is part of a low-risk industry, it’s important to remember that the risk of employee injury is ever-constant. It’s vital to offer your employees workplace health and safety training. Your training program should educate your staff about the risks they face, how to mitigate these risks, and what to do if an accident occurs. When your employees understand risk factors associated with your business, they are less likely to sustain injuries on the job. This, in turn, will reduce your workers compensation insurance costs.

Not Reporting Claims

When business owners fail to report employee accidents or injuries to their insurers, they are making a costly mistake. While you might think that paying for an employee’s medical treatment out-of-pocket is cheaper than the official claims process, you are leaving yourself open to a considerable amount of risk. If your employee’s injuries end up being more extensive than you thought or if they decide to sue your company, you can no longer access your workers compensation coverage at this point. This means that you will be completely responsible for all of these expenses. Rather than leaving yourself and your business’s assets vulnerable to these possibilities, it’s far better to secure coverage through official channels.

These are some of the workers compensation insurance mistakes that could end up costing you. Do you need further advice or assistance with your business’s insurance? Don’t hesitate to contact the experts at Contractors Insurance Agency. Our dedicated team is ready to help you today.

helping during a workers comp claim

The Importance of Cooperation During a Workers Comp Investigation

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Here’s why you need to cooperate during a workers compensation insurance investigation.

As a business owner, you are probably aware that an injured or ill employee will likely file a workers compensation insurance claim. Not only is it important to report this claim in a timely manner, but it is also vital that you do what you can to assist with the investigation.

By cooperating with your claims adjuster, you can ensure that the claim process is handled quickly and efficiently. Additionally, your assistance can even help the claims adjuster identify possible third-party involvement.

How to cooperate during the claims process

  • Anytime an employee is involved in an accident, you should require supervisor reports that record the initial details of the incident. This way, if the employee does decide to file a claim, you will have the details of the event recorded so the information cannot be forgotten or changed.
  • You should also help your claims adjuster gather witness statements and speak to the injured employee. For instance, you can help schedule meetings between your employees and the adjuster. Additionally, if a meeting cannot be organized, you can supply your adjuster with the injured worker’s personal contact information.
  • When meeting with your claims adjuster, you should be sure to inform them about any concerns or issues you may have. Something that seems insignificant at first could have a huge impact on how the claim actually turns out.

In addition to these things, you can also help your adjuster identify third-party involvement in a claim.

Here are some of the things that you can do to help.

  • If your adjuster suspects that a product defect or machine malfunction has something to do with the employee’s injury, you should make an effort to preserve the scene of the incident. This means removing the suspected machine from production to allow for further investigation.
  • You can also play an important role in preserving the scene by taking pictures immediately after the incident takes place. This will allow you to capture details that your adjuster might not be able to recreate.
  • Finally, sharing police reports, contracts, and other documents with your adjuster can be important in helping them determine third-party involvement.

These are some of the ways in which you can cooperate during a workers compensation insurance claims investigation.  Do you have further questions regarding your business’s insurance needs?  Then contact the experts at Contractors Insurance Agency.  Our dedicated team is ready to get you the coverage that you need today.

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