Right now, every company is challenged with operating under extreme conditions. Nowhere are those challenges felt more than in the workforce. Depending on the industry, some workers are trying to do more with less, be it materials, time or manpower.
That could be putting a strain on your safety program and, ultimately, your insurance premiums. When it comes to insurance, the news is already less than ideal. According to The Council of Insurance Agents & Brokers, prices in the property/casualty market increased 11.7% in Q3 2020. 2021 may bring more of the same.
Now more than ever, paying attention to every aspect of your safety program is critical to the health of your employees and to the financial health of your organization. Companies put the bulk of their focus on measures that reduce the risk workplace incidents, rely on data to measure progress and work improvements into their programs while maintaining a culture of safety by making it everyone’s role to advocate for safe work environments, and rightly so.
The missing link — communication with your insurer.
That may seem like a minor misstep. However, insurers are well-versed in the risks that clients face. Because they have a diverse portfolio of client businesses and work with risk of all kinds regularly, your insurer can offer data and best practices from your own and other industries that can help you improve your safety program outcomes.download full article