USE RISK MANAGEMENT TO HELP CUT COMP COSTS

Any business owner knows that sound risk management provides a foundation on which to stack all other operation strategies -- and a great way to reduce accidents and injuries and lower your Workers Comp premiums.

Because this is such an important topic, here are the seven essential benefits of a risk management program, according to The National Alliance for Insurance Education & Research:

Reduced cost of accidents
Providing adequate protection
Economy of operations
Integration of safety plans
Reduced risk of criminal liability
Ability to plan and budget more effectively
A clearer focus on the big picture

If you hire someone to oversee risk management, the Alliance recommends that they:

Develop and communicate risk-management policies
Prepare recommendations and reports
Conduct risk-identification surveys
Analyze and measure exposures
Review leases and contracts
Coordinate compliance with regulations
Implement risk-control programs
Investigate accidents
Manage claims and litigation
Arrange risk financing (including insurance); establish retention programs
Determine and allocate cost of risk
Monitor results

Our agency would be happy to review your risk management program at your earliest convenience and recommend precautions that can help keep Comp premiums under control.

RISK MANAGEMENT PROGRAMS HELP REDUCE COMP COSTS

Any business owner knows that sound risk management provides a foundation on which to base all other operation strategies -- and a great way to reduce accidents and injuries and lower its Comp premiums. Because this is such an important topic, here...

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