Company hammers away at workers' comp costs

Article Abstract:

Trane Corp, with the help of its insurance provider, Travelers, developed a plan to lower its workers' compensation costs. The plan, carried out in part by Travelers consultants, involved safety management training, information gathering, the proposal of a solution, and the implementation of the agreed-upon solution. A key part of the solution was the transfer of Trane's safety department from the human resources department to the operations department.

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Opportunities growing in self-insurance market

Article Abstract:

Self-insurance of workers' compensation may provide business opportunities for commercial insurance agents. The self-insurance market, which has been dominated by national brokerage houses and third party administrators, could provide agents with new accounts and protection of existing accounts. The advantages of self-insurance include increased income from reserves and reduce costs of plan administration.

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Temporary duty program cuts comp costs a "TAD." (Temporary Alternative Duty program for disabled workers)

Article Abstract:

Cigna Property & Casualty Insurance Co. and Ingersoll-Rand Co. have created a program to manage workers' compensation costs. Temporary Alternative Duty (TAD) assigns injured workers to in-house temporary assignments while they recover. The TAD program improves overall production, reduces the cost of losses and improves the relationship between employees, employers and medical care providers.

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