Effective Safety Committees – Great Presentation Earlier This Week
I attended the NC Mid State Safety Council’s Quarterly Meeting in Pittsboro, NC. Steve Naylor from OWASA (Orange Water and Sewer Authority) gave a great presentation on Effective Safety Committees. One of the first concepts he covered was how a good safety committee can reduce EMRs, sometimes called Mods or LDFs for the self-insureds.
In the past, I have piggybacked off his presentation on effective safety committees to discuss Schedule Rating Factors in Workers Comp. Take out one of your workers comp final premium audit statements or bills and look for it as one of the last lines on the bill.
Why Steve’s presentation on effective safety committees hit home with me was on the schedule rating factors. What he discussed in this DOC almost all completely read off the North Carolina Rate Bureaus listing on what constitutes a 25% debit or credit to a workers comp policy. BTW, that covers a 50% swing in your workers comp premiums. The schedule looks similar for all states.
Lowering your E-Mod and the Schedule Rating Factors can lower your Workers Comp premium or budget for self-insureds. That is a double win and keeping employees safe makes it a win-win-win.
Safety remains the best method to lower your workers comp premium. An indisputable fact, not an opinion of mine.
Download the Effective Safety Committees slide deck and the schedule rating factor sheets from the NCRB and hold them up to the light. One cannot doubt that the two match up quite a bit. I apologize for the slide deck being off a little. Our scanner catches on the edge of some pages.
We have all heard the phrase – the lowest-cost accident is the one that never happens. Now, you can see it with cash and budgets.
