 Your Human Resources team can be an integral part of keeping your insurance premiums low. They can do this in three ways by hiring the right people, implementing comprehensive training programs, and monitoring safety and injuries and responding promptly with corrective action if necessary. If you are a small company, you might be thinking your HR team is too small to carry out such a task. However, there is somebody you can add to the team you might not have considered: your insurance broker.
By including a representative of your insurance company with your human resources training plans, you get outside and experienced opinions of how you can create a safer workplace. Also, the insurance specialist will be able to give fact-based suggestions of the correct amount of insurance you should buy and have first-hand knowledge of your operations. If you have looked around our site, you have probably seen the case study of our work with West Coast Tomato Growers. Their situation is an example of how an insurance company, partnered with an HR team, was able to help mitigate risk and still provide excellent protection. In the case of the West Coast Tomato Growers, after they suffered through an abnormally high number of claims, they reviewed their hiring and training processes. With the help of their insurance company, they developed better training and monitoring of their staff and were able to drop claims and maintain the level of insurance they wanted. How can your human resources department help you save money on your business insurance? It isn't a secret that business insurance costs may increase when there are a disproportionate number of claims filed. The best thing your human resources department can do is take pre-emptive steps to prevent injuries or situations that would need an insurance claim. For example:
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