TOP 10 WAYS TO CONTROL YOUR MOD

BY CONNER INSURANCE Your experience modification factor, or mod, is an important component used in calculating your workers’ compensation premium. If you can control your mod, you can lower your price — so we’ve gathered top tips to help you impact your bottom line.
  1. Investigate accidents immediately and thoroughly; take corrective action to eliminate hazards, and be aware of fraud.
  2. Report all claims to your carrier immediately. Alert the carrier to any serious, potentially serious or suspect claims. Frequently monitor the status of the claim, and communicate with the adjuster to resolve them as quickly as possible.
  3. Take an aggressive approach to providing light duty to all injured employees upon their release from treatment. Supervise light duty employees to ensure their conformance with restrictions.
  4. In serious cases that involve lost time, communicate with the claims adjuster to demonstrate your interest in returning the injured employee back to gainful employment.
  5. Set safety performance goals for those with supervisory responsibility. Success in achieving safety goals should be used as one measure during performance appraisals.
  6. Develop a written safety program, and train employees in their responsibilities for safety. Incorporate a disciplinary policy into the program that holds employees accountable for breaking rules or rewards them for correctly following safety procedures.
  7. Frequently communicate with employees, both formally and informally, regarding the importance of safety.
  8. Make safety a priority – senior management must be visible in the safety effort and must support improvement.
  9. Evaluate accident history and near-misses at least monthly. Look for trends in experience, and take corrective action on the worst problems first.
  10. Hire Conner Insurance to ensure success.
theconners

Recent Posts

Stop Coasting: Proven Strategies to Improve Benefits and Cut Costs

There has never been more opportunity to rethink how employee benefits are delivered, but the…

4 hours ago

Independent Insurance Agents vs. Captive: Why Trust Conner Insurance for Better Coverage and Choice

Independent Insurance Agents vs. Captive: Why Trust Conner Insurance for Better Coverage and Choice. When it…

1 week ago

The Hidden Cost of Last-Minute Benefits Decisions

The Hidden Cost of Last-Minute Benefits Decisions. You wouldn’t wait for your car to break…

1 week ago

Self-Funded Insurance vs Fully Insured Plans: Finding the Best Fit

Most business owners face a tough choice when it comes to employee health benefits: pay…

1 week ago

Benefits of Self Funded Insurance: Taking Control of Your Health Care Investment

Health care costs continue to rise, making it harder for employers to provide quality health…

1 week ago

Take Back Control of Your Healthcare Spend—One Step at a Time

Take Back Control of Your Healthcare Spend—One Step at a Time. Imagine what the world…

3 weeks ago