Company hammers away at workers' comp costs

Article Abstract:

Trane Corp, with the help of its insurance provider, Travelers, developed a plan to lower its workers' compensation costs. The plan, carried out in part by Travelers consultants, involved safety management training, information gathering, the proposal of a solution, and the implementation of the agreed-upon solution. A key part of the solution was the transfer of Trane's safety department from the human resources department to the operations department.

Heating Equip ex Electric, Heating Equipment (except Warm Air Furnaces) Manufacturing, Refrigeration & Air Conditioning Eqp, Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing, Refrigeration and heating equipment, Heating equipment, except electric, Heating equipment, Occupational health and safety, Occupational safety and health, Cooling systems, Heating, ventilation, and air conditioning industry, HVAC industry, Travelers Corp., Trane Co.

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Opportunities growing in self-insurance market

Article Abstract:

Self-insurance of workers' compensation may provide business opportunities for commercial insurance agents. The self-insurance market, which has been dominated by national brokerage houses and third party administrators, could provide agents with new accounts and protection of existing accounts. The advantages of self-insurance include increased income from reserves and reduce costs of plan administration.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers, Practice, Insurance agents, Self-insurance, Self insurance

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Temporary duty program cuts comp costs a "TAD." (Temporary Alternative Duty program for disabled workers)

Article Abstract:

Cigna Property & Casualty Insurance Co. and Ingersoll-Rand Co. have created a program to manage workers' compensation costs. Temporary Alternative Duty (TAD) assigns injured workers to in-house temporary assignments while they recover. The TAD program improves overall production, reduces the cost of losses and improves the relationship between employees, employers and medical care providers.

Ingersoll-Rand Company Ltd., IR, CIGNA Corp., Temporary employment

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