Workers Comp New Year Resolutions

Now that the New Year is upon us, I was trying to think of the resolutions that employers might have to save on their Workers Comp premiums.

As an employer, to reduce our Workers Comp budget, we will:

• Always review everything that we receive about our Workers Comp policies and audits
• Request that our agent forward us all policy documentation for our review
• Always cooperate with the premium audit process
• Compare our new policy with last year's policy and audit
• Review all loss runs we receive for accuracy
• Initiate first report of injury, medical referral, and return to work procedures
• Review our safety program quarterly
• Examine all types of insurance including large deductibles, captives, and all other programs available to us
• Self Insure if we are large enough to do so
• Know who our Workers Comp adjuster(s) are for our claims
• Keep abreast of any major changes in the Workers Comp laws in the states where we operate or are expanding to in the near future.

There are other resolutions that we recommend for employers. The previous list will help prevent the highest Workers Comp costs.