As a business owner, you go to great lengths to provide a safe working environment for your employees. But when dealing with humans, accidents can happen and Workers’ Compensation Insurance can help. Workers Compensation Insurance should be an important part of your business insurance program.
What is Workers’ Compensation?
Workers’ compensation insurance is a state-mandated insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties. For many businesses, workers comp coverage is the largest part of its insurance expense.
Why Your Business Needs Workers’ Compensation Insurance
When one of your employees gets hurt on the job or has a work-related illness, only workers’ compensation will cover them. Health insurance benefits will not provide coverage for on the job injuries. Workers’ Compensation Insurance is also mandated by all states.
Who Is Covered By Workers’ Compensation?
Most policies will cover all employees; both full and part time, managers, supervisors, and even owners. If your organization has volunteers they too can be covered. Volunteers are not automatically covered.
What Is The Best Way To Keep Costs Down?
Workers’ Compensation Insurance premiums are computed as a direct result of your claims and payroll. The most effective method of reducing or managing Workers’ Compensation claims is to have effective safety rules and a “Return to Work Program”. Here are a few examples:
- Provide training for hazardous work, especially for new or inexperienced workers.
- Enforce safety rules and practices.
- Enforce drug and alcohol rules.
- Require safety equipment to be worn at all times.
- Keep work areas clean.
- Do not wear loose clothing or jewelry around machinery.
- Where required, you must wear protective equipment such as goggles, safety glasses, masks, gloves, hair nets, etc. appropriate to the task.
- Do not ever remove safety guards. Ever!
- Develop a system for reporting unsafe practices.
- Have monthly safety meetings that review safety issues and related topics.
- Create accident investigation procedures that focus on prevention and change.
Beckerman & Company will always strive to provide all of our valued clients with the finest in customer service. In doing so, we serve our community in meeting their needs. When we help our clients, their employees and families, we help ourselves and our families.