Work Comp Schedule Ratings Backed By Science

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Work Comp Schedule Ratings Backed by FSU Research

Some of the Work Comp Schedule Ratings produced by NCCI, WCIRB, and other rating bureaus now have science to back the Schedule Debits or Credits.   The definition of  Schedule Ratings can be found here.

Graphic Of Weighing Scale Work Comp Schedule Ratings With Debit and Credit Card
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A recent study by Florida State University has shown that a dull and dirty work areas affect cognitive function.  One of the researches had commented- “Designing jobs to ensure that all workers have some decision-making ability may protect cognitive function later in life, but it’s also about cleaning up the workplace.”

The Schedule Ratings take into account that dirty and unkempt workplaces can cause workers to not pay attention to their jobs.   When the workers stop paying attention, accidents will occur at a much higher rate than a normal workplace.

Below in an excerpt from a Schedule Rating Table – (please note that this is an example.  This table may not apply directly to your state).

Premises. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ………  5% Debit  to 5% Credit
Physical condition, preventive maintenance, hazards controlled, housekeeping

 The swing on this one area is 10%.   Therefore, just having a clean workplace may possibly save a company a bundle.  Workers Comp is becoming more expensive each year.   I would not want to be the safety and/or Risk Manager person if the  Work Comp Schedule Rating  just added on 10% to the Workers Comp insurance budget.
 
The lack of basic housekeeping may cause an employer to pay more premiums.   The requirements are just not that hard to comply with for saving premiums.
 
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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt 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

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