Workers' Compensation Insurance Can Save Your Bottom Line: 3 Real ...

Workers? Compensation Insurance Can Save Your Bottom Line: 3 Real-World Examples

Workers? compensation insurance is now required by law for all businesses, regardless of size. This kind of coverage provides protection for both your company and your employees, should one of them be injured in a work-related accident. In this way, workers? comp is quite different from group health insurance, which provides coverage due to illness, accidents outside of work, or routine health care.

The right kind of workers? compensation coverage can save your business? reputation and save you from bankruptcy as well. Following are three real-world examples of how this kind of insurance can literally save a company?s bottom line.

Example #1: Carpal tunnel syndrome

Surprisingly, the most common workers? compensation claim is not the most traumatic. Carpal tunnel syndrome is a painful nerve condition that is aggravated by repetitive movement of the wrist and hand. It is most common in people who have to type a lot for a living.

Carpal tunnel syndrome can actually progress to such a degree that an employee can no longer do his or her job. This leads to short or long term disability claims, workers? compensation claims, and even a lawsuit.

Your workers? comp coverage can help you implement procedures that will keep carpal tunnel syndrome to a minimum in your workforce. Such procedures include purchasing

Ergonomic office furniture or accessoriesTeaching employees about correct typing posture; andUrging your employees to take frequent stretch breaks

These simple measures can save your company thousands or even millions of dollars later on.

Example #2: Traumatic brain injuries

Another common claim that is more dramatic than carpal tunnel syndrome is a traumatic brain injury. These injuries occur when outside forces damage the brain. The damage can be classified in many different ways, depending on how the injury occurred and what caused the wound, but it can be an extremely serious and disabling injury.

These injuries usually occur because of a blow to the head resulting from a fall, a construction accident, and automobile accidents. This kind of injury can be so severe that it can result in permanent disability or even death. Therefore, the settlements easily range into the tens of millions of dollars.

Your risk management team can assess your business and make suggestions that can drastically improve the safety of your work sites, machine shops, factories, and other areas in which an industrial accident can occur. A strictly followed hardhat policy is also another way to decrease the risk of traumatic brain injuries on the job.

Example #3: Back injuries

Back injuries are another common claim. These injuries usually happen when an employee lifts something incorrectly. The injury can range in severity depending upon several factors. It can mean a short-term disability claim or a permanent disability.

A risk management team can help your employees avoid back injuries by giving instruction on the correct way to lift objects. They may also suggest other procedures, such as making employees wear back belts when lifting heavy objects.

Most insurance companies spend over 50% of their insurance budget on workers? compensation insurance. Since this coverage is such a high-cost item, it?s crucial to find coverage that is both cost-effective and comprehensive. A specialized carrier can help you save money and decrease the possibility of accidents by assessing your company?s practices.

For more information about how RJ Ahmann can assist you with all your insurance needs, visit our website at rja.com, or call us at (800) 511-9013. We are standing by to help you get the coverage you need!

<input id=?gwProxy? type=?hidden? /><input id=?jsProxy?>

1. Workers Compensation- the State Regulated Insurance Plan
2. Different Benefits of Workers Compensation Insurance
3. Workers Compensation Lawyer New York ? 866-ATTY-LAW
4. New York City (NYC) Workers Compensation Tips
5. Workers? Compensation Insurance

Tags: bankruptcy, compensation insurance, line 3, reputation

Source: http://www.ramoney.com/workers-compensation-insurance-can-save-your-bottom-line-3-real-world-examples/

trinidad paragon paragon bath salts angel hunger games make