Workers Comp Audit Stress Reducer
Use It For Your Next Premium Audit

Workers Comp Costs Easiest Way To Control Act Like Self Insured


Cutting Workers Comp Costs Like A Self-Insured

Controlling Workers Comp Costs is very important to an employer’s budget.  In one word – a word which has already been used in the last sentence – CONTROL. The more control that your company has over the way that your Workers Compensation claims are handled will ALWAYS result in a reduction in what you pay in Workers Comp premiums.

Picture of Cutting Workers Comp Costs Letter And Scissor At Middle

The ultimate goal of every employer should be to handle their claims in-house with their on-staff adjusters. In-house claims handling is usually reserved for only the largest of insureds as a company must prove to the State Insurance Commissioner that they are large enough and stable enough to be Self-Insured.

So you are sitting there reading this and saying – “I am too small a company to be Self-Insured.” That may be true, but some techniques that are employed by Self-Insureds that a company can use in your everyday operations to cut Workers Comp Costs.

For this and the next few posts, we will cover some of those techniques. We will go from the techniques that larger companies can use down to the companies that pay the minimum Workers Compensation premiums.

The list of techniques by company size is as follows:

  • Self-insured with a TPA handling your claims
  • Captive
  • Super Large Deductible
  • Large Deductible
  • Insurance Pool
  • Small Deductible
  • Ghost Policies
  • Flying with No Coverage – not the illegal kind

Remember that the bottom line is to make your insurance department like an in-house fully self-insured. As this may go a little long, I will cover two per day. Keep reading each day as there will be something in here for a company of any size in any state.

Bookmark this page in your favorites and come back to see the next post tomorrow. As always if you have any questions, please email me at [email protected] or call me. Our main website is at https://cutcompcosts.com/

Up Next – Operating Like a Fully Self-Insured Part I

©J&L Risk Management Inc Copyright Notice



James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


Get the latest workers' comp news FREE!

This field is for validation purposes and should be left unchanged.