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CompNotes

Injury reporting and efficient claims management

Workers’ compensation is a “no fault” system in Ohio. Every state has laws and regulations mandating the prompt reporting of all injuries and accidents. Most of these laws are in place to protect the rights and benefits of injured workers, but what many employers do not realize is that organizing the injury reporting process protects both the employee and the employer. A study by the National Council on Compensation Insurance (NCCI) showed that delayed reporting can increase workers’ compensation claims costs up to 51%. The study also reported that the longer a claim goes unreported, the more likely it will be to involve litigation, another major cost driver...

New employers - early entry into group rating

Starting a new business?  The Ohio Bureau of Workers’ Compensation (BWC) offers new employers the opportunity to join a Group Rating Program and receive a premium discount effective on the first day of coverage.  Upon BWC acceptance, employers can receive a premium discount of up to 53%, the current maximum discount allowable by BWC.

Early entry is available to new businesses with a new policy number where the employer did not purchase an existing business.  An employer must enroll in the program within 30 days of their new policy number being finalized.  If you are starting a new business, please reach out to your Sedgwick account representative and be on the lookout for a Sedgwick enrollment packet in the mail.   We will assist with immediately enrolling your new policy in Group Rating.

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