A little-known way to lower your workers’ comp costs

Making safety a priority not only protects employees – it also makes good business sense
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Some employers see investment in workplace safety as just another on a long list of expenses. But making safety a priority not only protects employees – it also makes good business sense. The state of Colorado has a set of requirements, collectively known as the Cost Containment Certification (CCC) program, that outlines the elements of a basic workplace safety program and provides a 5 percent premium discount for putting one in place.

The CCC program provides a foundation for a safety program and is designed with two overarching goals in mind. The first is to reduce the number of “losses,” or work-related illnesses and injuries, that occur in the workplace. The second objective is to offer guidance on managing the workers’ compensation claim process if an accident does occur.

How do I qualify for Colorado Cost Containment Certification?

The CCC program features six primary requirements. Getting certified is not a complicated process, but the state does require that all six steps be in place 12 months before an employer can apply for certification. Applicants also must provide a copy of the six-step program and other documentation.

To qualify for Colorado’s Cost Containment Certification, employers must have:

  • a formal declaration of a companywide safety policy
  • a formally designated safety coordinator or committee with a written outline of responsibilities
  • clearly defined safety rules in place
  • safety awareness and accident prevention training for all employees
  • a written list of designated medical providers
  • a written policy and procedure for workers’ compensation claims management

It may sound like a lot, but the process is not as complicated as it may appear. What’s more, there are several benefits for employers who participate in this program.

Understanding the benefits of Cost Containment Certification

Let’s start with the dollars and cents. Every employer that obtains the certification receives a 5 percent premium discount on their next workers’ comp policy renewal. But there’s an even greater benefit: the potential to build a culture in which employees feel safe. An organization with a good safety culture helps employees develop habits that minimize injuries and illnesses in the workplace.

That difference shows in the way a business performs, no matter the size of the operation.

A Pinnacol Safety Consultant related the experience of a customer who operated a small feedlot in Eastern Colorado. That employer applied for and obtained certification even though it had only one employee. The premium savings were negligible, but the employer followed the six steps consistently and has not had a claim in the 12 years since it became certified. That is a remarkable accomplishment in an industry that deals with the unpredictability of animals, working in all types of weather conditions and using a wide variety of equipment.

Whether you work in construction, manufacturing or a traditional office, taking your workplace safety to the next level pays dividends. For a kick start, contact Pinnacol’s team of safety consultants. They’re ready to help with a free virtual safety visit and access to Colorado Cost Containment resources, including webinars and templates.

(This sponsored content was provided by Pinnacol Assurance)

Categories: Business Insights, Human Resources, Sponsored Content