Brown & Brown, Inc. · NYSE:BRO
Brown & Brown — Workers' Compensation Return to Work Webinar (May 2023)
15 slides from Brown & Brown's conference presentation, May 31, 2023
Slide 1: Workers' Compensation: Returning the Injured Employee to Work
Workers’ Compensation: Returning the Injured Employee to Work Why it Matters and How it Can Impact Your Company Financially Presented By: Hays Companies, Inc., an owned Brown & Brown Casualty Team subsidiary of Brown & Brown, Inc.
Slide 2: Presentation Agenda
Presentation 1 What is Return to Work and How do Agenda You Structure a Successful Program? 2 Claim Issues Financial Impacts and Insurance 3 Implications 4 Q&A BROWN & BROWN | 2
Slide 3: Panelists
Panelists Aaron Stone Matthew Fasse Brown & Brown, Moderator Brown & Brown, Panelist Kaylene Kickhafer Bryce Anderson Kickhafer Consulting, Panelist Brown & Brown, Panelist BROWN & BROWN | 3
Slide 4: What is Return to Work and How do You Structure a Successful Program?
What is Return to Work and How do 01 You Structure a Successful Program?
Slide 5: What is Return to Work?
What is Return to Work? A Return to Work / Stay at Work Program is part of a business strategy to retain valued employees and to enhance workforce productivity. The anticipated result of a Return to Work Program, should be the progressive return of the injured employee to full duty work capacity. •
Slide 6: Elements of a Successful Program
Elements of a Successful Program Strong Communication to Employees • Immediate and periodic contact to reinforce employer’s concern for wellbeing and the employee’s value to the company • Try to alleviate the employee’s concern that they may lose their job due to reporting a work injury • Explain th
Slide 7: Elements of a Successful Program
Elements of a Successful Program Before an Injury Occurs (Continued): • Set Expectations with Injured Employees » Provide them with letters and forms that need to be taken to the medical appointment. o Letter to the medical provider states your company’s commitment to bringing employees back to work
Slide 8: Elements of a Successful Program
Elements of a Successful Program After an Injury Occurs: • Obtain the current work restrictions after each medical visit. This can be obtained from the employee, clinic, or both. Provide those work restrictions, and ability to accommodate the work restrictions, to the adjuster handling the claim. •
Slide 9: Claim Related Issues
02, Claim Related Issues
Slide 10: Claim Related Issues
Claim Related Issues • Failure to have a program has negative effects: • Some jurisdictions may have a separate penalty » Employees isolate from, feel disconnected under workers’ compensation laws, to penalize from, and eventually feel resentment towards employers for not bringing injured employees
Slide 11: Financial Impacts and Insurance Implications
Financial Impacts and 03 Insurance Implications
Slide 12: Economic Impact
Economic Impact Reduces Claim Costs - Temporary Total - Temporary Partial - Litigation Expenses Employee Morale Avoiding a Disruption in Salary Workforce Continuity & Maintain Production Levels Training Expense for Alternative Worker Experience Modification Factor - 70% Medical Only EMR credit appli
Slide 13: Carrier Issues
Carrier Issues Rates and Terms Underwriting Factors - Underwriters have 3 primary tools to calculate Guaranteed Cost premiums: - Improved relationship & communication with - Filed Rates employees is encouraged by underwriters - Scheduled Credits/Debits - Experience Modification Factors - Common Unde
Slide 14: Questions and Answers
Questions and O Answers (1)
Slide 15: Find your solution at BBrown.com
Find your solution at BBrown.com Any solicitation or invitation to discuss insurance sales or servicing is being provided at the request of Hays Companies, Inc, an owned subsidiary of Brown & Brown, Inc. Hays Companies, Inc. only provides insurance related solicitations or services to insureds or in
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