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Business owners are constantly looking for ways to minimize their overhead costs so they can increase their bottom line. One of the major keys to achieving this is to reduce the risk of on-the-job injuries while remaining properly prepared to handle a workers’ comp claim in the event an incident does occur. Being burdened with unplanned expenses due to an employee injury can cause significant financial hardship for a business. Here are some valuable tips on avoiding workers’ compensation-related issues. 

Do: 

Purchase workers’ comp insurance and pay premiums on time. 

Unlike other states, Texas law does not require employers to carry workers’ comp insurance. However, having coverage puts a limit on the amount an employee can collect after suffering a work injury and protects business owners from being sued by injured employees. Thus, it’s vital for employers to purchase a policy and pay their premiums on time to avoid a lapse in coverage.

workers' compFollow the right procedure when an injury is reported. 

Should an injury take place, employers must follow certain steps to make sure the workers’ comp claim is managed correctly. As soon as they receive notification from an employee, business owners will need to file a First Report of Injury and send the injured party for medical treatment right away. They should also determine if there were witnesses to the incident, communicate with the employee regularly, and devise a return-to-work strategy. 

Don’t: 

Fail to put the effort into preventing work injuries.

Employees have the right to work in an environment that is free of hazards. For this reason, business owners must do what they can to make safety a priority. This includes providing all workers with proper training and posting relevant safety procedures and precautions around the workplace. Additionally, an effective safety program that focuses on preventing work injuries should be implemented.  

Neglect to promptly report claims to the insurance company.

Employers have a responsibility to report any workers’ comp claims that arise to their insurance company as soon as possible. When claims are reported in a timely manner, it allows evidence to be preserved; employees can receive medical care sooner, and fraudulent claims can be identified more quickly. Business owners should cooperate with their insurer and comply with all requests for information.

 

Knowing how to deal with workers’ comp situations correctly will put business owners in a better position to control claim costs and safeguard their profits. If you are an employer in Boerne, TX, the professionals at Michael E Glick Insurance can help you find high-quality and affordable workers’ compensation coverage to protect yourself and your employees. They understand that every business has its own unique needs and have been customizing commercial insurance policies for clients for over 25 years. Call (830) 816-9488 to inquire about a quote or visit them online to see a full list of products available to your business. 

 

 

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