In any business, you must have insurance to protect you and your workers from loss in the event of catastrophe. You carry workers compensation coverage so that your employees are paid if they are injured on the job. But you may be able to lower your premiums with a few simple steps.
Start by talking to your insurance agent about risk management. Ask them how you can implement a risk management plan with your staff, to minimize the likelihood of injury. Review the claims that your employees make, and see if these problems raise concerns that you can address in the risk management plan. Once you have done what you can to prevent injury, discuss plans to help rehabilitated workers to return to employment. Since your premiums depend largely on the losses sustained by injured employees, develop a system for getting those employees back to work. Instead of waiting until they are fully ready to perform their former jobs, consider allowing them to return in a limited capacity.
Contact The Schwab Agency with questions concerning your business insurance needs in Colleyville, Texas.