Workers’ compensation insurance is one of the biggest expenses affecting small business owners. Here are some tips to help protect your employees and your bottom line.
- Make Workplace Safety a Priority
Most on-the-job injuries and illnesses can be prevented before they happen. Having a safety program and proper training in place will help you and your employees identify and eliminate hazardous conditions that may lead to accidents.
Don’t know where to start? OSHA’s On-Site Consultation Program offers free and confidential advice to small and medium-sized businesses.
- Take Immediate Action When an Injury Occurs
When an employee is injured on the job, provide prompt medical treatment to help reduce further complications and expenses.
Interview the injured employee and speak to any potential witnesses. Complete and submit a detailed accident report to your insurance company within 24-hours to ensure prompt claim handling and help fight fraudulent claims.
- Be Aware of Possible Employee Fraud
The national crime bureau estimates that 10% of workers’ comp claims are fraudulent. If you suspect fraud, report it to your insurance company immediately.
Be sure to have a return-to-work program and policy that monitors the injured employee’s recovery and helps them get back to work as quickly as possible so that business can continue to operate efficiently.
Need advice? Your professional, local independent agent will review your payroll and the risks associated with your type of business to help find the right coverage and get your injured employees back to work as soon as possible.