Posted on Jan 11, 2019
Associated Specialty Insurance Agency, Inc.
In regards to controlling workers’ compensation costs, the traditional approach has always been to focus on reactively managing claims, beginning at the time of loss and continuing through the life of the claim. While having a comprehensive post-loss approach is an important aspect of workers’ compensation cost control and should absolutely be included as part of an organization’s risk management program, it should not be the main focus. A post-loss approach, on its own, does not address all of the important elements in workers’ compensation cost control. As more organizations are becoming aware of shifting trends and improved cost control methods more focus has been placed on injury prevention and loss control.