How to Access the Best Insurance Rates

Improved Employee Behaviors are the Key to Getting the Best Insurance Rates for Your Company

Safety Record for better insurance rates

When it comes to accidents and incidents in the workplace, it’s not a matter of “if”, but “when”.

That’s why insurance is one of the most costly expenses. It is one of those direct costs associated with workplace incidents.

Don’t Forget the Indirect Costs

Large insurance costs don’t even take into account the indirect costs, including:

Wages paid during an injured worker’s absence not covered by Workers’ Comp
Employee time lost during the injury
Overtime to other employees to cover for the injured worker
Administrative time spent after the accident to deal with necessary paperwork
Training costs to replace the injured worker
Lost productivity
Repairs or replacement of damaged equipment

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What Affects Your Insurance Rates?

Type and age of your business
Potential risks associated with your business or industry
Previous claims over the past 3-5 years

All this information helps underwriters determine what type of risk you are as a client, which directly impacts what type of rates and stipulations you can negotiate.

Dangers to Your Insurance Rates

Too many claims:

As you know, with Workers’ Comp, too many claims could negatively affect your experience modifier, which could increase your insurance premiums significantly.

Lawsuits:

Add to this the new danger to companies who have drivers. Plaintiff attorneys are now targeting ANY companies with commercial drivers for lawsuits after an accident, even if they are driving personal vehicles.

What is the Key to Reducing Accident Risk?

Reducing your risk of accidents and incidents will help you reduce both insurance claims and rates

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Frequent and Consistent Training

Frequent and consistent training sustained over time drives desired behaviors, reducing accidents and incidents in the workplace.

Consistent training will also reduce the chance of a visit from OSHA. Companies with too many reportable incidents are more likely to end up in an OSHA audit.

Employees Completing Training

With Infinit-I Workforce Solution’s online customizable training platform, your employees can complete training without workflow disruptions. This means employees are less likely to put off training.

Make a real impact on workplace safety, reducing claims and helping to drive down insurance prices.

Verified Training to Drive Real Results

Our insurance partners have verified that clients who use our system consistently have less workplace accidents and less claims, making them a more insurable risk.

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Empower your Team’s Training

Transform your team’s success with Infinit-I’s versatile Enterprise Learning Management System. Tailor training to your industry’s needs with customizable content or explore our extensive library covering topics from OSHA to HR. Our seamless integration with third-party tools ensures a smooth experience, while cross-departmental training management simplifies organizational efficiency.