Workers? compensation insurance shields the employees that are harmed during employment. In a lot of states of US, it is a mandatory policy and is necessary by every company with employees.
Hence, it is crucial for every employer to employ effective safety precautions, not just to reduce compensation claims, but also to boost workplace safety and employee security.
Having a comprehensive program, tailored to suit the organization?s specific needs and goals, helps the organization reduce the frequency as well as the seriousness of injuries at workplace. Following are few ways that can assist you in establishing a risk free workplace, which further assist in reducing workers? compensation claims and related costs.
Use risk managing measures. Employees working in industries, manufacturing plants, construction sites, etc., are often more prone to on-job injuries and accidents. Working on heavy equipment using hazardous material raises employee safety concerns. Hence, every employer has to follow a series of steps to boost workplace safe practices. These steps normally include ? risk identification, risk assessment and risk control .
Risk identification is recognizing the potential hazard/risk. A hazard is something that could hurt the employee or any other third party. As an example, destroyed or frazzled electric cables are probable sources of accidents at workplaces.
Risk assessment entails tracking down of all the probable outcomes of identified risks/hazards and the seriousness of the damage they can cause. In the previously listed example, frazzled electric cables, the damage could be an electrical shock.
Risk control is only repairing the risks. The employer should eliminate the hazard; if not, should at least try to make risks less hazardous. Replacing the damaged electric cords with new ones is among the risk control actions to circumvent electrical shocks.
Risk controlling measures vary in line with the nature of the vulnerabilities. However, value of any step lies in proper review and rendering of precautionary features frequently.
Provide safety training to the employees. The next most effective way to decrease workplace injuries is by centering on on-job safety during training. Provide safety training to all the employees about safe handling of equipment, possible risks in the workplace, company safety rules and operations, emergency procedures (consumption of fire extinguishers, etc.), need for personal protective gear required at work, etc. These types of training helps employees acquire all the skills and know-how essential to be safe in the job location.
Have knowledge of the deceptive claims. Insurance scams takes place when the employees purposely provide some false information to get the benefits of the claim. Based on the Coalition Against Insurance Fraud, insurance fraud costs consumers, employers and insurance carriers at minimum $80 billion each year. Among which, worker?s compensation insurance fraud alone accounts for a substantial percentage.
A thorough workers? compensation program always assists your organization do considerably more than merely saving the claim costs. It can make your workplace safer, secures employees and in the end saves your organization from fraudulent claims.
If you?re a small business owner and you?re looking to get answers to your questions about Workers Comp then you?ve come to the right place, visit GA Workers Comp Insurance for more information.
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