Five Strategies for Reducing Workers’ Compensation Costs

CDHA

When a company experiences significant increases in workers’ compensation costs, it usually triggers internal activities aimed at reducing insurance costs and spending. The key to spending fewer dollars is more than just stopping a few accidents; it is having a sound safety program designed to continuously improve. This is where a safety program that, at a minimum, is compliant with the Occupational Safety and Health Administration (OSHA) standards can yield significant savings by reducing injuries and illnesses, saving workers’ compensation dollars.

Here are five strategies to consider for reducing workers’ compensation costs:
  1. Build a solid OSHA program
  2. Develop programs required by OSHA standards
  3. Integrate programs into daily operations
  4. Investigate all injuries and illnesses
  5. Perform training and auditing for continuous improvement

There is no better time than the present to evaluate your current workers’ compensation coverage. AmeriTrust Group, Inc. has extended its zero-down payment relief program until January 1, 2021. In April of 2020, AmeriTrust announced a zero-down payment relief opportunity for qualifying new* business accounts in response to COVID-19. Under this plan, small business owners seeking competitive workers’ compensation coverage can take advantage of a convenient 11-installment payment plan with the first payment due 30 days after the policy’s effective date and monthly thereafter.

 





 

For more information, or to get a workers’ compensation quote, contact Clayton Evans at

First Pioneer Insurance Agency, Inc.
(800) 547-1495 | (910) 944-2848 | workcomp@pioneerinsurance.com

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