How To Contain Texas 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.
Whether you’ve just started a home-based business or your business is established and growing, Shepard Insurance Agency can help you protect your livelihood against the unexpected. We offer tailored programs for all types of businesses and professions in McAllen, TX, the entire Rio Grande Valley and the great State of Texas. Call us at (956) 686-3888 or start a Free Rate Quote. We can review your insurance requirements and create a portfolio to protect your assets and minimize your risk of loss.