Workers Comp Insurance for manufacturers

Workers Comp Insurance is a must-have for manufacturers. Workers Comp Insurance will give workers security by offering them compensation if they are injured on the job. Workers Comp Insurance also covers any diseases that were obtained while working for the company. If the employee accepts the Workers Comp Insurance, they are agreeing not to sue their employer for any damages. For manufacturing employers, having Workers Comp Insurance will protect them from costly lawsuits and paying for the benefits of the injured workers. Each state has different regulations about Workers Comp Insurance, but it is mandatory for most employers.

The insurance premiums will be based on your payroll. Depending upon how many employees you retain throughout the year, the premium costs will fluctuate. They will increase if you have an employee that claims Workers Comp Insurance due to a work-related injury at your facility. If you do not accurately report information about your company, you can be fined $5,000 for not complying with the regulations. You can also be audited by the insurance company and if they find you are not accurately reporting your payroll, you can have increased premiums and a penalty.

In order to get good insurance premiums, you want to maintain a good safety record. Companies that report less than one injury a year will have lower rates, saving them thousands of dollars each year. To maintain a good safety record, consider modifying your facility to make it safer. Installing anti-fatigue floor matting and other simple things can minimize your company's risk of on-the-job-injuries.

Manufacturing companies often use a technique called behavior-based safety to keep their employees safer. Behavior-based safety simply teaches you to watch your employees and the way they perform their job duties. If you notice they are bending over or doing other things that could cause an injury to them, tell them not to do their job that way or remove things that could be causing them to perform their job this way. Hold safety training meetings often to teach your employees about the importance of maintaining a safe workplace.

Workers Comp Insurance rates will lower if you not only do things to make the workplace safe but if you are encouraging good health at your facility. For example, giving your employees gel mouse pads if they use the computer can reduce their risk of developing carpal tunnel. Have an exercise room on-site or offer gym memberships to your staff members. Encouraging health in the workplace will keep the employees fit and it can reduce their chances of contracting a virus or being injured on the job.

Even if you do everything possible to prevent injuries and accidents from occurring, they will still happen. Have an accident reporting procedure in place at your workplace. Make sure employees know the importance of reporting an accident as soon as possible and that they receive medical attention immediately. You must also fill out a form called the First Report of Injury. This form must be filled with Workers Comp within 72 hours of the accident. If you do not file the form, your employee can sue the business for negligence.

Get as much information gathered as you can about what happened. You need to provide information about the accident and about the worker. Obtain statements from any witnesses and provide video footage if you have cameras at the facility. The more information you can gather, the better. Workers Comp may come to your facility and investigate the claim and look for other things that could be a hazard to other employees. The injured employee must also cooperate with the insurance company or they could lose their benefits.