Insurance needs differ from one business to another. Here is partial listing of policies to consider.
1. Business owner coverage. – this provides damage protection from fire and other disasters. Owner coverage offers a certain amount of protection from accountability.
2. Property insurance. – insures for damage to the building where your business is located including its contents
3. Liability insurance. – covers damage to property or injuries suffered by persons you are directly responsible for
4. Product liability insurance. – protects you from claims for injuries to people or damage to property caused by using your product.
5. Errors and omissions insurance. – protects businesses offering services in cases where they make slip-ups or overlooked something that caused injury to his customer.

Property insurance covers for the damage to the location of the business and its contents, even those that are consigned to you. There are two types of property insurance: the Broad Form – categorizes a list of disasters and protects against loss from all causes specified in the policy; and the Single or Specific Peril –insures against loss only from the specified risk. The premium will be higher if there are more types of loss covered. Property insurance can recompense damages or loss through: Actual Cash Value – original value of the property loss; and Replacement Value – reimbursement of the real amount needed to replace the equipment when lost.

You can lessen the insurance costs by avoiding injuries. Here are some measures to follow:
1. Follow in-house rules for a safe and healthy workplace.
2. Request a free safety and health consultation.
3. Talk to employees about your commitment to safety.
Some thoughts to impart:
a. Encourage employees to volunteer information regarding safety concerns. The best source to reduce workplace hazards is your employees.
b. Include in your orientation training for new employees a session on office safety.
c. Provide the training employees need to do new tasks safely.
4. Learn the Steps to a Safe and Healthy Workplace.

A valuable claim management tool is communication with the attending physician. The employer has a legal right and responsibility to discuss matters concerning the injured employee’s claim and return to work issues with the attending doctor. Some questions to ask the doctor include:
• What is the diagnosis? What’s wrong?
• What is the prognosis?
• What are the plans for treatment?
• When can the employee return to work?
• Would you consider releasing the employee to modified or light duty?
• What can we do to assist the employee in returning to work?

It is also proper that regular communication with the injured employee be made to provide assistance and encouragement.

Duties of a claim management coordinator:

Communication — must be the point of contact for all communications concerning the workers’ compensation claims.
File/record keeping — must be responsible for maintaining all correspondence that pertains to the employer’s record of the claim.
Tracking and monitoring — must initiate and/or respond to all communications and correspondence concerning the claims as quickly as possible to ensure that all issues are resolved in a timely manner.
Resource — must be knowledgeable on how to get additional help or information to make certain an effective claim management.
Monitoring the medical treatment progress — must review the file to monitor claim activities.

Preventing injuries and accidents must be the concern of every company and if they do happen, employers should know how to go about in processing their claims. A manual for policies and procedures must be in force and communicated to the entire workforce.

There are five basic procedures for a good claim management:
• Develop a claim management and return to work program policy and procedures manual and obtain the approval and support of top management.
• Develop an accident reporting procedure.
• Establish a system for monitoring claims.
• Establish a return-to-work program.
• Designate a representative to serve as claim management coordinator.