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Saving Money on Worker’s Compensation Insurance

I recently saw this email that was sent out to various departments in a large organization. A benefits manager sent a checklist of safety measures that would be favorable to their worker’s compensation carrier.

“Our Workers Comp renewal is up and there are some questions that can help us to keep our rates lower as well as make sure our coverage levels are adequate.. I have 25 days to reply, so if we can get any of these in place regarding safety, job duties, descriptions and operations , that would be very helpful.

    1. Do you have a return to work program (after any injury) in your department and are you using it?
    2. Do you have a written safety program in operation for your department?
    3. Do written job descriptions exist for jobs that include janitorial, day care, lawn care, maintenance or other manual duties. 4. Are employees trained in conjunction with their job descriptions?
    5. Does training include muscle strains or repetitive motion ?
    6. Are we interested in offering post-offer/pre-employment physicals and fitness for duty tests or drug testing?

The questions are simple and all point in one direction…safety on the job. The question you be wondering about is – how does this benefit a contractor. When I quote a contractor client, I put your business out to 3-5 carriers that are favorable to your class code (electrician, painter, drywall etc.) One of the options I have is to apply for credits (they lower the net premium) based on your safety procedures on the job. When you take a simple list like I’ve given you above and implement it, you have a great opportunity to accomplish two very important things:

1. You’re agent (if he’s doing his job) will have the ability to ask for credits.
2. Statistics prove….contractors will lower their injuries on the job when safety measures are implemented.

For a more extensive list of how you can save on your workman’s compensation insurance, fill out my quick quote form and get my Ebook “24 Strategies That Work” (saving on your worker’s compensation insurance) as a free download.

Your in the drivers seat on worker’s comp more than you may know.


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