Start Saving Huge on Workers Comp for Crews
Strategies to Save on Workers' Comp
One of the most effective ways to cut costs on workers' compensation is by implementing a robust safety program. By investing in training and safety equipment, businesses can reduce the frequency and severity of workplace injuries. According to the Occupational Safety and Health Administration (OSHA), companies that prioritize safety can see a reduction in injury rates by up to 40%1. This not only decreases workers' comp claims but can also lead to lower insurance premiums over time.
Another approach is to regularly review and audit your workers' comp policy. Many businesses find that they are overpaying due to misclassified employees or outdated payroll data. By ensuring that your policy accurately reflects your current workforce and operations, you can avoid unnecessary costs. It's advisable to work with an experienced insurance broker who can help you navigate these complexities and identify potential savings.