With few exceptions, workers’ compensation insurance is legally required. So rather than bemoaning premium costs, you should work to control them. In addition to safety training to prevent injuries, two of the best ways to control premium costs are to report claims in a timely fashion and to thoroughly investigate any alleged injuries.
Prompt reporting has been the subject of many prior articles in the Retailer and information provided by Retailers Insurance Company. In short, report an injury as soon as you are aware of it so the treatment, healing, and return to work can occur as soon as possible. You should also require your employees to report any workplace injuries as soon as they occur. Wage loss benefits begin after an employee is unable to work for seven days and are retroactive to day one if the disability lasts 14 days or longer. The sooner your provider can offer treatment and suitable return to work options, the less potential impact on your future premiums.
Equally as important to prompt reporting, it is critical to conduct a timely investigation into any claimed injuries and report all useful information to your claims administrator. A proper investigation gathers and documents information surrounding the injury and its cause, and provides relevant employment history. Of course, the first consideration following a workplace injury is immediately securing any necessary medical attention. Once this first step is complete, you can and should commence with an investigation. Primary considerations include interviewing the injured party and any eyewitnesses to the incident, having the employee describe their specific injury as best they can, and collecting any video or other documented evidence. You should also gather the employee’s relevant employment information, much of which you should already have in a personnel file. This includes date of hire, prior injuries, illnesses and discipline, job description, and any potential suitable alternatives to their existing position.
A thorough investigation by the employer on the front end means less time the claims administrator has to spend doing this work on their own and the sooner they can get the claimant proper treatment and back to work. These efforts can help minimize impact on premium following a claim.
In addition to great rates, Retailers Insurance Company prides itself on excellent customer service in order to help minimize claims exposure. If you are not already a policyholder, we invite you to learn about our services and obtain a quote through one of our independent agents.
