(Roanoke, VA)– Commercial Insurance Services, a commercial lines independent insurance agency located in Roanoke, VA, recently conducted a seminar, “Exploring Ways to Cut Your Workers’ Comp Expenses: Return on Your Work Comp Investment”, The seminar was held at two locations in Virginia on March 19 in Roanoke and March 20 in Abingdon. The objective of the seminar was to educate businesses on how to control their workers compensation expenses through effective risk management. The seminar was offered free of charge and was completely filled with representatives from more than 40 businesses from around the region.
The seminar consisted of two sessions. The morning session focused on raising employer awareness and sharing strategies to help businesses reduce their overall workers’ compensation expenses costs. Short-term and long-term strategies were detailed and recommendations regarding specific tactics were provided. “The majority of expenses lie in the wake of how businesses manage claims, so just shopping for the best cost is a very short-sighted strategy,” said Stephen Hamilton, Vice President of Commercial Insurance Services. “A much better strategy is to manage the claims process by developing detailed policies and procedures.”
Some examples of good claims management include posting and filing accurate job descriptions that outline essential and additional duties related to the job, developing hiring practices based on the applicant’s ability to perform the work, and conducting regular and formal safety training.
The afternoon session was entitled “The Dollars and Sense of Safety,” conducted by Mark Lederer and Jeff Fishell of CNA Insurance Company. Lederer and Fishell are risk control authorities with extensive backgrounds in loss prevention and risk management. The session focused on the benefits of efficiency and safety procedures in the workplace. Lederer and Fishell emphasized the fact that workplace workflow and routine activities must be analyzed to find opportunities to decrease exposure to risk. When a business is analyzed in these terms, the organization saves money by increasing production and also may decrease the number of injuries, saving money in sick time and in workers compensation insurance premiums.
The businesses and organizations attending the seminars were diverse, including non-profit organizations, manufacturers, contractors, printers, hospitals, and nursing homes.
“The seminar was delivered in a clear, informative manner that was not dry. Stephen (Hamilton) kept it interesting,” said Nani Jarrell of Valley Boiler.
CIS will be hosting a series of workshops for area businesses throughout the spring. For more information, log on to the agency Website at www.cis-agency.net, or call (800) 277-4309.
Commercial Insurance Services is a commercial lines independent insurance agency located at 5007 Carriage Drive in Roanoke. CIS offers a different approach to insurance through a variety of risk management programs designed to reduce exposures and bring value to business operations.