Concrete inFocus - Spring 2017 - 31

best practices

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Workers' Compensation
Insurance in the Concrete I

ndustry

Norman Goodman
s a workers' compensation cost control consultant, I have met with many
firms in the construction industry
that believe workers' compensation is a fixed
expense determined by their insurance carrier.
More than 35 years of experience has proven
to me that those assumptions are wrong.
That common misconception was proven
wrong time and again by lowering and even
recovering workers' compensation premiums
from past policies. You too can control the
cost of your organization's workers' compensation insurance by knowing a few insider tips.
What follows are several proven methods to
reduce the cost of this mandatory insurance
to the absolute minimum.

Improving Your Experience
Modification
Most ready mix concrete contractors accept
their experience modification (ex-mod) as an
absolute number, with little or no ability to
improve. That's a mistake that can cost large
sums of money and put them at a competitive
disadvantage.
Here are a few steps to take to improve
your firm's ex-mod. Begin by obtaining a
copy of either your state rating bureau's or
the NCCI's Experience Rating Worksheet.
This document contains the payrolls, claims
and other factors that make up your ex-mod.
It also includes the mod's effective date and
some other useful information that will

impact the final cost of your firm's workers' compensation coverage. You should
have received a copy of the worksheet in
the mail, but if you did not, it is available
from your insurance agent or broker, direct
from your insurer, or by ordering a copy
from the rating bureau or the NCCI in
Boca Raton, Fla.
With that worksheet in hand, check the
claims that have been charged to the ex-mod
under the column labeled "Act Inc Losses."
Confirm that they belong to your firm.
We have seen firms charged for claims that
belong to another employer, so it is a good
idea to check that your ex-mod only includes
your company's claims.
concrete INFOCUS

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31



Table of Contents for the Digital Edition of Concrete inFocus - Spring 2017

From the President’s Desk
Corporate Suite Column
Enviroscene Column
Strong and Efficient: Insulating Concrete Forms for Multifamily Residential Construction
Cut the Cost of Workers’ Compensation Insurance in the Concrete Industry
Engineering: Specifications for Concrete Construction
Predicting the Potential for Plastic Shrinkage Cracks
2017 Product Preview
Index of Advertisers
Concrete inFocus - Spring 2017 - belly1
Concrete inFocus - Spring 2017 - belly2
Concrete inFocus - Spring 2017 - cover1
Concrete inFocus - Spring 2017 - cover2
Concrete inFocus - Spring 2017 - 3
Concrete inFocus - Spring 2017 - 4
Concrete inFocus - Spring 2017 - 5
Concrete inFocus - Spring 2017 - 6
Concrete inFocus - Spring 2017 - 7
Concrete inFocus - Spring 2017 - 8
Concrete inFocus - Spring 2017 - 9
Concrete inFocus - Spring 2017 - 10
Concrete inFocus - Spring 2017 - From the President’s Desk
Concrete inFocus - Spring 2017 - 12
Concrete inFocus - Spring 2017 - Corporate Suite Column
Concrete inFocus - Spring 2017 - 14
Concrete inFocus - Spring 2017 - 15
Concrete inFocus - Spring 2017 - Enviroscene Column
Concrete inFocus - Spring 2017 - 17
Concrete inFocus - Spring 2017 - Strong and Efficient: Insulating Concrete Forms for Multifamily Residential Construction
Concrete inFocus - Spring 2017 - 19
Concrete inFocus - Spring 2017 - 20
Concrete inFocus - Spring 2017 - 21
Concrete inFocus - Spring 2017 - 22
Concrete inFocus - Spring 2017 - 23
Concrete inFocus - Spring 2017 - 24
Concrete inFocus - Spring 2017 - 25
Concrete inFocus - Spring 2017 - 26
Concrete inFocus - Spring 2017 - 27
Concrete inFocus - Spring 2017 - 28
Concrete inFocus - Spring 2017 - 29
Concrete inFocus - Spring 2017 - 30
Concrete inFocus - Spring 2017 - Cut the Cost of Workers’ Compensation Insurance in the Concrete Industry
Concrete inFocus - Spring 2017 - 32
Concrete inFocus - Spring 2017 - 33
Concrete inFocus - Spring 2017 - 34
Concrete inFocus - Spring 2017 - 35
Concrete inFocus - Spring 2017 - 36
Concrete inFocus - Spring 2017 - Engineering: Specifications for Concrete Construction
Concrete inFocus - Spring 2017 - 38
Concrete inFocus - Spring 2017 - 39
Concrete inFocus - Spring 2017 - 40
Concrete inFocus - Spring 2017 - Predicting the Potential for Plastic Shrinkage Cracks
Concrete inFocus - Spring 2017 - 42
Concrete inFocus - Spring 2017 - 43
Concrete inFocus - Spring 2017 - 44
Concrete inFocus - Spring 2017 - 45
Concrete inFocus - Spring 2017 - 2017 Product Preview
Concrete inFocus - Spring 2017 - 47
Concrete inFocus - Spring 2017 - 48
Concrete inFocus - Spring 2017 - 49
Concrete inFocus - Spring 2017 - 50
Concrete inFocus - Spring 2017 - 51
Concrete inFocus - Spring 2017 - 52
Concrete inFocus - Spring 2017 - 53
Concrete inFocus - Spring 2017 - Index of Advertisers
Concrete inFocus - Spring 2017 - cover3
Concrete inFocus - Spring 2017 - cover4
Concrete inFocus - Spring 2017 - divider1
Concrete inFocus - Spring 2017 - divider2
Concrete inFocus - Spring 2017 - 57
Concrete inFocus - Spring 2017 - 58
Concrete inFocus - Spring 2017 - 59
Concrete inFocus - Spring 2017 - 60
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