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Keeping workers' compensation claims to a minimum and with low payouts — in terms of both frequency and severity — are key to small to medium-sized businesses maintaining cost-effective insurance premiums. A low claim rate helps keep your workers' compensation experience modification rate at or under the 1.00 target you need to be able to operate your business without restriction. It can also help with recruitment and retention of employees.

Keeping up with OSHA

To stay on track with their respective workers' compensation experience modification rates, most companies create workplace safety-incentive programs. At the end of a quarter, they review their incident records and reward those who did not report a claim. This act of rewarding the outcome versus the behavior has historically been standard practice but is no longer compliant with OSHA guidelines.