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How To Contain Workers’ Compensation Costs

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.  Despite your best efforts and vigilance, accidents will happen. The Bureau of Labor Statistics notes that in 2016, there were more than 1.1 million workplace injuries. Make sure you have adequate workers’ compensation to protect your business from loss. That is when Workers’ Compensation Insurance can help.  Workers’ Compensation Insurance should be an important part of your risk management program. There are proven methods to help you contain your costs as much as possible.

 

Here are some proven tools to help you contain your workers’ compensation costs:

  • Create a company safety policy and clearly define safety rules
  • Make sure upper management provide support
  • Designate a safety committee or coordinator
  • Create safety checklists and hazard reports for each job function
  • Investigate all accidents
  • Have a clear safety enforcement policy
  • Provide safety training to all employees
  • Request regular claim review meetings with your carrier and agent
  • Develop a return to work program

 

Do not delegate safety, the companies with the best records have an owner on their safety team. Innovative Insurance Services LLC understands the value of good employees. We know that your day-to-day operations depend on their hard work, expertise, and dedication, and if you supply them with quality benefits and plans, they can work with the peace of mind assurance that they are properly protected. Innovative Insurance Services LLC provides insurance to businesses in Shakopee, Savage, Prior Lake, Bloomington, Eden Prairie, Burnsville, and surrounding areas.

 

*Main Office - Shakopee

8001 Old Carriage Ct N, Ste B

Shakopee, MN 55379

Main office: 952-445-5767
Fax: 952-445-2182

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 5:00 PM
Sat: 9:00 AM - 12:00 PM
Sun: After Hours by Appt.

Litchfield Office

125 S Sibley Ave, Ste 5

Litchfield, MN 55355

Main office: 952-445-5767
Fax: 952-445-2182

Office Hours:

Mon: 8:30 AM - 5:00 PM
Tues: 8:30 AM - 5:00 PM
Wed: 8:30 AM - 5:00 PM
Thurs: 8:30 AM - 5:00 PM
Fri: 8:30 AM - 5:00 PM
Sat: Closed
Sun: Closed

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Testimonials

Accommodating, professional, helpful, and quick. Very comfortable experience and I was impressed by their capabilities. Highly recommended.
Brad M.
I feel lucky to have found an agent willing to provide this level of service. No need to look anywhere else!
Michelle D.
Over the years we’ve never once had to worry about our coverage. My husband and I are long-time customers and proud to be.
Carol S.
Surprisingly flexible and in-touch with my needs as a small business owner. Can’t ask for more.
Spencer F.
They have strong ties with the community, and it shows. It’s nice to do business with people that really show they care about you and your family.
Susan T.