- Request electronic claims reports from the agent or company at least every four months. This will allow you the ability to review, on a regular basis, anything that has been posted by the insurance company. If there are any claims that you want to dispute, this provides enough time for a discussion before the renewal comes up. You should note that most paid claims are settled for the full amount even though there may be a deductible. The insurance company then in turn bills for the deductible at a later date. For instance, if you have a $1,000 deductible for property damage to customers vehicles and you incur three claims you can expect a $3,000 bill in your future. This can be a real shock, especially if you are unaware of the claims.
- When an incident is reported, it is important that a report be filed as soon as possible. Timely documentation is extremely critical to ensure the most favorable outcome for the customer, employee and the insurance company.
- Do not assume that your carrier will fight to deny paying fraudulent cases. If you allow it, there are times they will do what is cost efficient for them, not you. Your only defense is to be involved in the case and provide as much information as possible.
Record all incidents, no matter how small or incidental it might seem. This is important from the standpoint of reviewing claims to detect any patterns that might lead to a better understanding of why this loss occurred. The result of this analysis might help you mitigate or eliminate future problems by suggesting changes in processes or procedures.
When you do investigate claims that you don’t feel are your fault, it is prudent to save all the paperwork regarding what happened and include witness reports, police reports, pictures, video and all accident reports. It is a good idea to maintain these records for at least a year.
Appoint a claims committee to review all incidents, even if they are not reported to the insurance company.
- For employers with 10 or more employees, there is a change in the injury and illness recording and reporting requirements from OSHA. This becomes effective January 1, 2015, for all work-related accidents. For a complete copy of this rule, click here.
- Winter will be here soon. If your location is in an area with snow and ice, get your salt logs ready.
A safe wash protects people and profits.