Last week we took a look at the basics of Workers Compensation (Work Comp). It was the first in a four part series giving insight to this often misunderstood and complex coverage facing most business owners. This week we are going to look at some very basic procedures for your office to follow that can help mitigate claims and lower your costs.

The most important of all Risk Management plans is communication and knowing your responsibilities. Whether it is your shift supervisor, department head, HR or in house risk manager your office should identify a claims point person. This will ensure all proper steps are followed to steer the claim through the proper channels to help control future costs.

Timely reporting of Work Comp claims has been proven to lower claim costs, positively impacting loss experience modifications (future topic). Proven benefits of following an established procedure for timely reporting include:

• Avoiding state imposed late reporting penalties
• Enhancing medical care process
• Mitigating lost time and speed recovery
• Reducing litigation activities and costs
• Improving employee/employer relations

Establishing a claim kit with the vital information will also help ensure a smooth claims outcome.

Your claim reporting kit should include:

• Policy number
• Name, Address and Federal ID#
• Phone and Fax number
• Wage information (if the loss potentially involves loss time from work)
• Claim information (date, time and description of loss)
• Employee information (name, address, DOB, SSN, marital status, and dependent)

These are just the basics.  It is important to note that there are many great (no cost) enhancements you can add to your office risk management portfolio that could severely drive down the cost of your insurance. Be sure you're asking your agent/ insurance provider about:

• Established preferred network providers
• Return to Work programs
• Claims review teams with members of all levels management, supervisors, staff etc.
• Tracking and monitoring claims data to identify: Troubled areas, High risk tasks, Types of injury, Day of week, Time of day, Age of employees

It is our goal that this series will help create a safer work environment for your team, shed some light on a serious topic, help give insight to long term cost savings solutions, and as always help you understand what you're paying your insurance company for in the first place.

I hope this week's look at Work Comp procedures has done this. Thanks for checking in.

Be Safe!

Tony Matera is a licensed independent insurance advisor with Ansay and Associates out of Port Washington WI. And is the Servicing Agent for ONMILWAUKEE.COM For more information contact him at tony.matera@pw.ansay.com or call directly at 262-376-3248 www.linkedin.com/in/TONYMATERA