The Key to Managing Workers’ Compensation Premiums.. the Six Point Plan.

Monday June 15, 2020

"Read our 6 point plan on how to implement a safety program and control your work comp premiums."

Dave Lucas, CIC, CWCA, Partner |

In an effort to control insurance premiums more and more business are shopping for the "best rate". Money does talk but finding the solution to increasing premiums will speak louder long term. The solution to controlling insurance costs is simply to control the amount of claims. At Peabody Insurance Agency, we focus on helping you understand your exposure to loss and how to effectively plan and manage loss control efforts. We are dedicated to assist you in developing long-term solutions to control the exposures affecting you and your employees.

  1. Management Commitment & Employee Participation
    Without commitment from management, a loss prevention program cannot be successful. A business cannot expect to have good loss control performance unless management commits and demonstrates its importance to an organization. Key personnel should be accountable for disseminating this philosophy.

  2. Mission Statement & Written Safety Program
    If we lose sight of our goal, we may take a wrong turn and wander aimlessly. Each day the management of every business organization is confronted with a multitude of problems that require immediate attention. In the presence of such daily "emergency" problems, it is tempting to defer or overlook loss control activities. When this occurs, the potential for mistakes and accidents will increase significantly. Making safety part of your business plan will improve production, efficiency and profitability.

  3. Develop a Safety Committee
    Concerted leadership and effective execution of each element of the overall program are essential to good loss control performance. Delegating this task to employees will drive results by increasing awareness, enhancing employee morale, and holding everyone responsible.

  4. Claim Management & Analysis
    Did you know that the first 28 days from when a claim is reported, the employer has the right to choose the clinic to send the claimant? Claims management simplifies the workers' compensation claim process and expedites claim payments and treatments, resulting in lower claim payments. Claim analysis will improve chances of future exposures.
  5. Return to Work Procedures
    A well-designed return-to-work plan is vital in controlling your workers' compensation costs. The goal of a return-to-work program is to restore the injured worker to gainful employment and to reduce or eliminate incentives for continued disability. Concentrating on an individual's "ability" rather than disability focuses on viewing the disability as temporary.

  6. Consistency
    Establishing this structure through leadership and consistency will force performance within the loss control program. The loss control practices and policies will no longer be an option, they will be integrated into the way your organization does business. This will work because management is being held accountable on whether the established goals are met. When this occurs, you will be controlling your losses and not relying solely on the element of chance.

For more information please visit us online at We look forward to partnering with you for a free review of your insurance!