Every once in a while we come across a company that has never had a workers comp claim. Through a combination of good training and good luck, they have never had to respond to a workplace injury. They never sent an injured worker to the ER. They never designed an appropriate modified duty job for a recovering worker. And they never had to determine the root cause of a serious accident. But this admirable clean slate can sometimes be a problem ...
Recently, we talked about the top 10 causes of disabling injuries at work ... slips, trips and falls were three of the 10 most common events leading to a work injury. That brought to mind one of our all-time most popular posts by our work comp expert Jon Coppelman on a real-life work injury claim based on shoelace safety, or the lack of it. We're reprinting it below.
Liberty Mutual's Annual Workplace Safety Index ranks the top 10 most serious workplace injuries by their direct cost to employers. It analyzes non-fatal injury data to determine which events caused injuries that result in employees missing more than five days of work. This helpful infographic is great information for agents to share with commercial accounts to help focus safety and prevention efforts on the specific risks they face.
The Massachusetts Rating & Inspection Bureau (WCRIBMA) has issued Circular Letter No. 2348 establishing an “audit noncompliance charge” which mirrors the approach already operating in NCCI states. Any comp policy holders who try to avoid the premium audit are in for a big shock. The Bureau seriously wants comp policy holders in the voluntary market to cooperate with auditors. If a policy holder refuses to allow auditors access to their books, onerous penalties come into play: they will be fined two times their estimated premium! Thus an account with $25K estimated premium will owe $50K in penalties, plus the original $25K premium. Ouch!
Workers comp is a line of insurance that requires proactive management by agents. With its volatile rating system and relentless focus on accidents in the workplace, comp can go bad in a hurry. Agents that fail to see the trouble ahead are at great risk for losing the business.