Prompt Claims Reporting
Why Prompt Claims Reporting Is Important
Falls Lake Insurance encourages employers to report work-related injuries within 24 hours.
Research done by the National Council on Compensation Insurance Inc. found that claims reported late can increase the cost of Workers' Compensation claims by 51%. Higher claims costs can drive your Experience Modification and premiums up.
Five Benefits of Timely Claims Reporting:
- Organizational Welfare: Reporting an injury on time results in prompt and appropriate medical treatment. Getting quick treatment for an employee may benefit their wellbeing. It may also allow for a quicker return to work, lowering hiring and training costs.
- Reduces Legal Risk: Employees who get injured at work, and see no action from their employers, often turn to attorneys for assistance, thus increasing the cost of the claim.
- Identify Potential Fraud: Reporting a claim late hinders the investigation as witnesses may no longer be available or key evidence may not be preserved.
- Determining Compensability: Late reporting may impact the ability to deny claims that aren't compensable, as many states have regulations that prohibit denials after a certain period.
- Late Reporting Fines and Penalties: Many states impose fines on employers who delay reporting workplace injuries beyond a certain period.
Claims Reporting Recommendations
- Establish a Claim Reporting Process
- After reporting a claim to Falls Lake Insurance, employers should maintain communication with their injured worker and designated Claims Examiner to return the employee back to work in a quick and safe manner.
- Educate supervisors on the importance of accident investigations.
- OSHA Compliant Record-Keeping Practices- OSHA maintains strict injury record-keeping requirements that a business needs to follow in order to avoid citation and fees.