Workers’ compensation protects both employers and employees. It offers financial and medical support to team members who are injured in the workplace. And it helps business owners prevent lost income, lost time and potential lawsuits. But for coverage to work effectively, it’s important to report workers’ compensation claims promptly. Why is instant reporting so important? Read on to learn our top five benefits of immediately reporting workers’ compensation claims.
- It restores business quickly. When an employee is injured on the job, it can disrupt work flow and cause delays. Filing a claim immediately helps the injured party get the care they need. It can also help you get the replacement hands you need, whether it̵7;s bringing in another team member to cover the work or hiring a temporary replacement. Doing all of this quickly and efficiently can minimize potential downtime and get you back to normal operations faster.
- It prevents further damage. Workers’ compensation claims can help you identify potential safety hazards in your workplace. By reviewing incident reports, you can see where most accidents and injuries occur, if there are patterns, and how these events can be prevented in the future. Perhaps multiple failures have been reported on a machine, or at a specific step in your process. With that knowledge, you can fix areas of risk, implement new security solutions and speed up the team to prevent these injuries going forward.
- It helps you avoid penalties/fees. Many states require employers to report claims within a certain time frame. Failure to do so may result in fines and penalties. In addition, employers may be subject to higher insurance premiums if they have a history of late reporting. By reporting compensation claims directly, employers can avoid these additional costs and penalties while keeping the team safer.
- It ensures proper medical treatment…quickly. The most important benefit of reporting a workers’ compensation claim promptly is that it helps the injured employee receive medical treatment as soon as possible. Delayed reporting can result in delayed medical treatment, which can worsen the team member’s condition and lead to long-term complications. To assist employers in this process, some carriers, including Frankenmuth Insurance, provide free claims investigation services. This service (not available in the state of Ohio) provides access to a medical professional who can expedite care and treatment options for injured team members. In addition, an initial claim report is written automatically and forwarded to the insurance company.
- It shows support for your team. As an employer, one of your responsibilities is to prioritize the health and well-being of your team. Handling compensation claims promptly and seriously demonstrates your commitment to your employees, their health and well-being, and their speedy recovery. It builds a more positive and respectful work environment and shows that you care about each person, not just the job.
Both employers and employees experience benefits from immediate reporting of workers’ compensation claims. This is why employers should have a clear protocol in place for reporting, and employees should be trained to report accidents, injuries and illnesses at work. Working together can make your workplace safer and healthier for everyone there.
Want to add even more security? Talk to a local, independent agent about our coverage today.