Public Sector Risk

While the economy overall may be slowly recovering, public-sector budgets wont see much relief until a year or more after the U.S. economy finally stabilizes.

The City of Columbia, Mo.s money-saving efforts include increasingly concentrated attempts to keep Workers Compensation costs down, says Sarah Perry, the citys risk manager for more than 15 years and a member of NUs Risk Managers Advisory Board.

Public-sector risk managers look to such options as public-private partnerships and Workers Comp-reduction programs, in order to make the most of their limited budgets as the economy slowly recovers.

Public-sector risk managers look to such options as public-private partnerships and Workers Comp-reduction programs, in order to make the most of their limited budgets as the economy slowly recovers.

Finding the right insurance carrier to help a company mitigate its Workers Comp costs is key, says Mary Beth Pittinger, vice president and executive underwriter of Workers Comp for the Chubb Group of Insurance Cos.

Two effective Workers Compensation cost-control strategies involve the carrot and the stick.

Creating best practices in Workers Comp for many insurers now means going beyond the basics, digging deep into their claims history, and making manufacturing better at manufacturing Workers Comp.

Controlling Workers Compensation costs is a process that needs to start at the very top: Those in the C-suite need to commit themselves to creating a zero-injury culture at their organizations, says Calvin Beyer, head of manufacturing for Zurich North America Commercials customer industry segments.