Download - WITC Safety Day
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WITC WITC Safety DaySafety Day
March 15, 2012March 15, 2012
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The Importance of Safety Programs
Show Me Show Me the Money!the Money!
Scott HubertyNorthwest ChapterAmerican Society of Safety Engineers
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HazardsHazardsExisting or potential
conditions or operations that can result in damage to people or property…
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HazardsHazardsWhat do hazards look
like?
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HazardsHazardsExisting or potential
conditions or operations that can result in damage to people or property…
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HazardsHazardsThe Importance of Safety Programs
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““Three Three Buttons”Buttons”
RegulatoryMoral
Financial
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Show Me Show Me the Money!the Money!
The Importance of Safety Programs
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Show Me Show Me the Money!the Money!
The Importance of Safety Programs
Financial
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Show Me Show Me the Money!the Money!
The Importance of Safety Programs
Financial
How ya doin’
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The Cost of Accidents
• Direct Costs
•Indirect Costs
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• Uninsured costs
• Deductibles & expenses
• Fines and litigation costs
• Claim administration
Direct Costs of Accidents
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• Equipment damage
• Product damage / delays
• Clean-up time and expense
• Hiring expense to replace worker
• Supervisor time to assist
Indirect Costs of Accidents
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Experience Modification
What is an Experience Modifier?
A number that reflects a comparison of your company’s workers compensation claims
history to a statistical average for your industry.
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Experience Modification
- This number is adjusted annually and coincides with your policy renewal date.
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Experience Modification
Three important features of the Experience Modifier:
1. The significance of the modifier.
2. The timeframe covered in the calculation of the modifier.
3. The impact of individual claims on the modifier.
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Experience Modification
1. Understand the significance of the Modifier.
1.00 1.45.65
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Experience Modification
2. Understand the timeframe reflected in the calculation of the modifier. ?1.45
1/1/111/1/10 1/1/121/1/091/1/08 1/1/13
Three years of losses
New three-year window
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Experience Modification
3. Understand the impact of individual claims on the Modifier.
Two general categories of benefits paid under WC claims:
1) Medical costs
2) Wages (Indemnity)
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Experience Modification
3. Understand the impact of individual claims on the Modifier.
When calculating the modifier, claims that are medical-only are reduced by
70%.
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Experience Modification
3. Understand the impact of individual claims on the Modifier.
Illustration:
Employee A: $1,000 claim (Medical-only)
Employee B: $1,000 claim
($900 in medical bills, $100 in wages)
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Summary
The Experience Modifier is a number that reflects a
comparison of your company’s WC claims history with a
statistical average.
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Summary
The Experience Modifier is a long-term measure of your company’s safety success!
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SummarySummaryExisting or potential
conditions or operations that can result in damage to people or property…
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Be Safe!Be Safe!