Controlling Workers' Compensation Costs
This webinar was originally presented in June 2012.
Employers today are faced with the ever increasing cost of workers' compensation insurance. An aging workforce, double digit inflation of medical costs, prescription costs that are approaching 15% of the total cost of a claim, and courts that are consistently expanding the definition of what constitutes a work-related injury or disease all contribute to these increases.
The labor and employment attorneys from Fisher & Phillips LLP presented a webinar that offered employers practical advice on how to control workers' compensation costs. The presentation focused on use-loss control and safety programs to prevent injuries from occurring. The presentation also helped employers understand how to best manage claim expenses when a claim does occur. Practical guidance was given on how to create a working relationship with your insurance carrier that allows your company to influence and control the cost of claims after they occur.
The webinar also focused on understanding your insurance contract; how to manage your carriers' claims personnel; how to control reserves and settlement and, most importantly, how to control your cost of premium.