Vigilant Blog

News, trends and analysis in employment law, HR, safety & workers' comp

May 18, 2021

Lower your work comp premium - do two things first

Featured Worker’s CompWorkers’ Comp 

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 increase refunds (for retro group participants), I have two suggestions.

  1. Understand what injuries are happening with the most frequency and impact, then work with your safety team to prevent them. For most companies, compensable claims are the primary driver of increased premium.

More on safety strategies

  1. Avoid compensable claims, by strategically using kept-on-salary. This is especially effective when a small amount of time loss can be avoided. Don’t try to figure this out alone though; it's complicated and should be used with precision, not broadly mandated.

More on KOS as a strategic tool

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