3 Ways to Improve Your Chances of Earning a Workers Compensation Dividend
A lot of business owners concentrate on the dividend portion of a workers compensation insurance policy. Rightly so, it’s a significant refund and can be critical to the bottom line of any business. What business owners and CFO’s don’t often realize, though is that if you manage your experience MOD first, the dividends will follow.
If you currently have a flat dividend, you’ll need to protect that by proving that your business is worthy of it again upon renewal. If you have a variable dividend, since the variable is loss-sensitive, you’ll need to have as minimal a loss ratio as possible to get the maximum return.
Either way, flat or variable, you need to be in control of your workers compensation program to get the maximum return. Here are 3 ways to improve your chances of earning (or keeping) a workers compensation dividend.
- Control your claim losses, and more specifically your lost-time claim losses.
- Prevent accidents in the workplace.
- Help your injured workers return to the job as soon as medically reasonable with the implementation of a strong return-to-work program.
Attend our Accident Investigation Seminar, held in Pewaukee, Wisconsin