What are 5 things you should you be hearing from your Retro or workers' comp provider? The first thing you should be hearing is the importance of immediacy. Why? In this short video, Dan Beaty, VP Workers’ Compensation explains: In claims, immediacy can mean the difference of hundreds or even thousands of dollars. Let's…
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Receiving consistently large Retro refunds requires being in good company. When evaluating your current Retro program or investigating in a Retro for the first time, a critical component to consider is the company you will keep. For any Retro program to deliver consistently strong premium refunds, it must surround you…
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Got workers’ comp questions? We’ve got answers. It’s hard to keep track of all the Workers’ Compensation acronyms, definitions, best practices and more! So we’re sharing a few frequently asked questions we recently received from our Vigilant Manufacturing Retro members. What is Standard Premium; is it the same premium I pay to L&I? Standard premium is the…
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Question: “What action can we take to lower our upfront workers' comp premium? Where do we even start?” Answer: From Vigilant's VP of Workers' Comp, Dan Beaty. I get asked this question daily. My reply? We're here to help, and here's a hint: high frequency/impact injuries, and a strategic use of kept-on-salary(KOS). To lower upfront cost of premium and…
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Lately I’ve received a lot of questions about Vigilant’s perspective on Kept-On-Salary mandates. Here’s where we stand: We oppose KOS Mandates Our fundamental objection to KOS mandates is that they ALWAYS benefit a group retro program and its association sponsor, but do NOT ALWAYS best serve the individual member companies that are paying for it. In…
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Washington Manufacturers: On my daughter’s 7th birthday she was gifted a Magic 8-ball. You know, the one with the blue liquid that you shake and it magically answers whatever question you’ve asked. Often the response would be a non-committal answer like “Ask Again Later” or “Cannot Predict Now.” Feverishly, she would ask the question again, shake it…
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Washington Manufacturer: Who do you contact within Labor & Industries (L&I) to help you with a difficult workers’ compensation claim issue? Who is advocating for your interests with the Department? Not knowing where to start and how to be impactful can be overwhelming, frustrating, and even demoralizing. Just as the company you keep is…
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As the COVID-19 pandemic continues, we are all realizing that business decisions aimed at the future cannot wait for the pandemic to be over. We are eager to shift from surviving the current climate, to thriving into the future. It is with this spirit that we have resumed our e-mail…
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Dear Washington Manufacturer, The most recent letter in our series on deconstructing a 30% Retro refund highlighted the positive impact of customized and dedicated loss prevention services. This letter shares why sophisticated claims management strategies have a similar effect: lowering upfront premiums and increasing Retro refunds. We acknowledge and sympathize with the…
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Dear Washington Manufacturer, You’re invited to apply for participation in Vigilant’s best-in-class Manufacturing Retrospective Rating Program—members are projected to receive a 30% refund for the most recent Retro plan year. Because of the elite composition of the manufacturers in our program, our use of proprietary data analytics, and our staff’s dedication, we expect that number to…
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