What is your EMR costing you?

Your Experience Modification Rate (EMR) is a number used by insurance companies to estimate past injury costs and predict your future chances of risk. A lower EMR results in a smaller workers’ compensation insurance premium. So how can you lower your EMR?

• Talk to your insurance provider to find out what premiums you pay as well as all the facts and figures that go into the calculation. It’s hard to fix what you don’t know, so be comprehensive.
• Examine your existing safety plan to find ways to make it more effective in eliminating hazards and injuries. Remember: no injuries, no claims.
• Accidents do sometimes happen, so make sure you have a procedure in place to manage injuries and workers’ compensation claims appropriately.
• Lastly, make reducing your EMR a priority for your business; lowering your EMR can give your business a competitive advantage and can save you money in the long run.