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Containing Your Workers' Compensation Costs: Construction Workers' Compensation

Publication

7.24.07

Workers' compensation costs have had an enormous impact on the bottom line. By focusing on long-term objectives, however, these expenses can be effectively managed and contained. Here is a checklist that can help keep your costs down:

  • Establish a Comprehensive Cost Reduction Program
  • Train Employees to be Safety-Conscious
  • Evaluate Your Organization's Claim History
  • Compare Your Costs to Those of Other Companies
  • Periodically Audit Claims Reserves
  • Familiarize Yourself with Basic State Procedures
  • Evaluate the Legal Knowledge of Cost Control Managers
  • Train Managers and Supervisors on Cost Containment
  • Retain Aggressive Attorneys and Adjusters
  • Know Your Insurance Policy Inside and Out
  • Handle Every Claim Individually and Aggressively
  • Establish a Good Working Relationship with Company Physicians
  • Identify and Deter Fraudulent Claims
  • Obtain a Full, Universal Release of all Claims Before Settling
  • Coordinate Workers' Compensation Claims with Pending Litigation
  • Do Not Overlook Subsequent Injury Trust Funds
  • Bring Employees Back to Work as Soon as Possible
  • Analyze the Advantages of Self-insurance
  • Manage Workplace Injuries - Don't Let Them Manage You

Controlling workers' compensation costs is no longer merely a desirable goal. For many employers competing with other companies which have successfully lowered their costs, it is a necessity for business survival.


This article appeared in the Spring 2007 (vol. 2, issue 2) Bloomberg Corporate Law Journal, and a version appeared in the July 24, 2007 edition of ForConstructionPros.com.

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  1. Steve Bernstein photo
    Steven M. Bernstein
    Regional Managing Partner and Labor Relations Group Co-Chair

    813.769.7513

    Email

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