RISK MANAGEMENT
Five Steps Toward Risk Management
BY : STEVEN PANG , ATLAS INSURANCE AGENCY
With an entire risk management division , Atlas Insurance is one of the leading providers of risk management solutions in the state . While you may already have certain risk management protocols in place , we thought it might be useful to run down the elements of a comprehensive risk management program . Read on to see where your company scores highly — and where it could use a little work .
WORKERS ’ COMPENSATION There are a number of ways to cut down on claims by making your business a safer place to work . Start by forming a safety committee that can take the lead on putting safety protocols in place and developing written safety manuals that spell out company policies and procedures . Complement this effort by organizing regularly scheduled safety meetings to ensure adequate discussion of new safety requirements and to determine accountability . Then post and distribute flyers , as needed , to publicize important safety updates . Be sure to integrate safety information into your new-hire orientation programs and emphasize the importance of maintaining a safe work environment . In addition , make sure your accident and incident review process is robust and consistently followed , ultimately identifying root causes and developing corrective actions .
LOSS CONTROL ACTION PLANS Loss control is an important component of risk management , helping you to identify unfavorable trends and problem areas and introduce mitigation strategies . As part of this effort , it ’ s important to periodically evaluate current programs , policies , and procedures and analyze the various types of losses you are experiencing . Based on your findings , you can develop new written safety policies and programs that can help you reduce losses in the most affected areas .
OSHA COMPLIANCE To ensure OSHA compliance , first and foremost , you must understand and monitor regulations to ensure that you are always up-to-date with ever-changing requirements . Your facility should be inspected regularly for potential physical hazards , and sources of risk should be carefully evaluated . In addition , be sure that your employees understand and utilize your electronic log recordkeeping program .
CLAIMS BEST PRACTICES By implementing claims best practices , you can ensure that insured employees get back on the job as quickly as possible . Your team should work efficiently to review and process claims in close collaboration with your insurance agent . A return-to-work program can help gradually introduce injured employees back to the workforce by providing special accommodations for scheduling , comfort , or other needs .
SUPERVISORY TRAINING Management should be kept up-to-date with injuries , accepting accountability at every level and working toward the overarching objective of workplace safety . It ’ s also important that every manager understands the basics of workers ’ compensation and the requirements for thorough accident investigation .
Atlas Insurance ’ s team of risk management professionals maintains designations such as Authorized OSHA Outreach Trainer , Certified Safety Professional , Workers ’ Compensation Attorney , Certified Insurance Councilor , and Licensed Insurance Agent . We can work with you to provide risk control measures that will help reduce losses , including safety training , developmental safety programs , hazard inspections , OSHA compliance , and more . Please call our offices for more information or visit us at atlasinsurance . com . +
Steve has experience servicing large commercial accounts where his expertise is in the healthcare and hospitality industries . He is a member of the Hawaii Joint Police Association ( HJPA ), Hawaii Hotel Visitor Industry Security Association ( HHVISA ), President and Senior Member , International Association for Healthcare Safety & Security ( IAHSS ) Hawaii Chapter , as well as a Vice President , Board of Directors , Kuakini Medical Center Federal Credit Union . Steve has over 23 years in the safety field and holds a number of different certifications . He is a graduate from the University of Hawaii .
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