While protecting the health of your employees is the number one priority of every business, no business is injury-proof. Accidents can happen even with the proper safety procedures and training in place. Sometimes workplace injuries require a trip to the emergency room. However, in non-emergency situations, a nurse triage program is a valuable resource to help achieve the best possible outcome for everyone involved. (more…)
Society’s insurance case studies are real-life stories, explaining complex business situations from start to finish. These stories detail how business owners and insurance companies work together to overcome unique and unexpected challenges.
In this case study, an accident caused by a customer resulted in serious employee injuries and significant property damage.
Remember when you couldn’t wait to turn 16 and obtain the freedom that comes with a driver’s license? Then the anticipation of turning 18, becoming an adult and being able to vote. And having your first cocktail at 21. For me, the next hugely anticipated milestone was 25 – the age when my car insurance premiums would go down!
Okay, maybe that was just me.
So, why am I talking about car insurance? Well, it’s because most people understand car insurance. We know, for example, that a 16‐year‐old boy driving a sports car typically pays higher premiums than a middle‐aged married woman in a minivan, right? Statistically, teenage boys are more likely to cause accidents, report claims, and cost insurers more money than middle‐aged women. As a result, their premiums are higher. This is how insurance works: the greater the loss potential, the higher the premium. (more…)
Let’s face it; working in construction is dangerous. In 2015, one in five worker fatalities occurred in construction. Is it any wonder why the Occupational Safety and Health Administration (OSHA) conducted almost four times as many inspections and issued over twice as many penalties for the construction industry compared to the next closest industry classification? By the numbers, that’s 11,869 inspections, 29,777 citations and nearly $72 million in fines from October 2015 through September 2016. (more…)
In the world of workers compensation, the subject of employee vs. self-employed independent contractor is complex. Employers are not required to provide workers compensation coverage for independent contractors. Likewise, employers are not responsible for payroll taxes and other legal obligations that are necessary for employees. However, there are consequences for misclassifying an employee as an independent contractor, so it’s important to understand the difference. (more…)
Handling workers compensation claims is no easy task. Some cases are very complicated, as well as very expensive. And every state’s laws regarding the payment of workers compensation claims is different. To add to that challenge, each state’s laws also differ somewhat as to how an insurance company may recoup some or all of the benefits paid. It is sometimes possible to recover money through the process of subrogation when the work-related injury was the fault of an independent responsible third party. (more…)
Society Insurance is a servicing carrier in the Wisconsin Workers Compensation Insurance Pool. As such, we see extreme cases and injuries. We treat these businesses just like every other Society policyholder. This case study provides strong evidence for the importance of prompt claims reporting. (more…)
The easiest way to control your claim cost is with prompt reporting. Studies show that claims cost more when reporting is delayed. The sooner a claim is reported, the sooner it can begin to be managed and brought to resolution.
Key types of claims that should be reported as soon as possible: (more…)
Several bills pertaining to Wisconsin Workers Compensation were signed into law in 2016. It is important that we understand how these changes may affect us and also, how we may adjust our internal processes to best position ourselves for success. A couple of the new changes are detailed below. This is conveyed for informational purposes only and is not to be considered legal advice. If you have any questions as to how this may affect an individual business entity, consult with your Human Resources expert or other legal counsel. (more…)