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December 2013
Workers’ Compensation Rates Go Down When You Reduce Your Risks

Employers are legally obligated to carry workers compensation for employees, and benefit levels are set by state law.

Most job injuries happen through human or mechanical error. That means the best way to cut down on employee risk and insurance costs is to know how accidents occur and take steps to avoid them.

Here are some quick facts about workers’ compensation claims:
  • Back injuries cost more lost time than any other workplace incident
  • Musculoskeletal problems cost $45 billion in lost wages and productivity
  • 25,000 slip and fall accidents occur daily in the United States, many on the job
  • Ladder falls injure 20,000 American workers each year

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Reduce these risks, and you are on the way to controlling workers’ compensation costs and insurance pricing. Partnering with your insurance agent and insurance company can help you formulate ways to mitigate your losses and keep your premiums down.

It’s mandatory for employers to carry workers’ compensation insurance. It includes the no-fault concept, designed to eliminate litigation in workers’ compensation, and the exclusive remedy component, which is structured to limit liability claims against employers.

Mavco can help with a risk management review to help you better understand your specific workers’ compensation risks. Ultimately it is to your benefit to partner with the right agent to build a Best-In-Class risk which equates to Best-In-Class pricing now and in the future.

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Mavco is an independent insurance agency located in Hinsdale, Illinois. We provide personal and business insurance solutions, and specialize in supporting the complex needs of high net worth individuals and their families.

Meet the Mavco team. We offer a level of care and attention that cannot be matched.