With Halloween only a day away everyone is admittedly focusing on tricks, treats and what they are going to wear but the results of a Highway Loss Data Institute (HLDI) study should get some attention.
Finding a secure place to park should be at the top of your to-do list this week considering the HLDI analysis found your personal vehicle is twice as likely to be vandalized on October 31st as on an average day.
The vandalism claims data came from 28 companies representing approximately two-thirds of the entire insurance market for private passenger vehicles. Moreover, the average number of claims on the day for all the companies combined was 692.
Cost per claim averaged out at $1,528 amounting to an average total cost of more than $1 million per day.
Unsurprisingly, Halloween had the highest average number of claims for any holiday throughout the year at 1,253. Christmas and Thanksgiving had an average claim rate below that of the regular overall daily average.
The Fourth of July ranked second with 987 average claims per day, followed closely by New Year’s with an average claims per day of 944.
The HLDI also found vandalism occurs more frequently on weekends and in the summer. The number of claims was 16 percent higher than average on Saturdays and 7 percent higher on Sundays. The other days of the week all had an average or below-average number of claims. Looked at by month, claim numbers were highest in July, followed by August and June.
When an employee is injured on the job, many employers don’t know where to start. From taking care of the injured worker, to filing the claim, to figuring out what happened, a workplace injury can be overwhelming. Like dealing with a flat tire without a spare, getting caught unprepared for an injury will make the experience more difficult than it has to be.
You can’t know the details of an accident before it happens, but there are some simple steps you can take now that will make the process go more smoothly when an injury does occur:
• Designate medical providers – To comply with Colorado law, you must designate at least *two medical providers to treat your injured workers. Just as important, you need to let your employees know who those providers are, before and after an injury. Pinnacol has template letters and forms that make this step easy.
• Ask employees to report injuries within 24 hours – You may not always be on the jobsite, so make sure your employees and supervisors know that all injuries should be reported immediately to ensure the injured worker gets the care they need. Reporting the injury promptly will also help your employee get back to work safely and quickly, and keep claims costs in check. You can report an injury by visiting Pinnacol.com or by calling 800.873.7242.
• Distribute important follow-up resources – Following an injury, it’s important to talk with the employee about what happened, and conduct your own analysis of what caused the accident. That way, you can determine if any preventive measures could keep the same thing from happening again. Pinnacol has an Employee Accident Report and an Accident Investigation Report to mitigate the hazards. You might consider printing these forms out and have them handy on every job site.
By following the steps above – and informing your supervisors and employees about your expectations – you’ll be prepared to handle a workplace injury quickly and effectively. You can find templates, forms and resources on Pinnacol.com by clicking the Resources tab in the navigation bar, then scrolling down to the Claims Management Resources link.
*A new bill passed by the Colorado legislature requires that employers select four medical providers to treat their injured workers, effective April 1, 2015.
This is HALF the total time that Coloradans had to shop and choose their plans last year, so don’t put off this important decision!
If you want your coverage to begin January 1st, you have JUST 30 DAYS (from Nov. 15 to Dec. 15) to finish your enrollment.
Our trained professionals are here to help guide you through the process!
Contact us today at 970-945-9161
The Biz-Opoly complimentary luncheon is sponsored by Glenwood Insurance Agency and hosted by the Travelers Institute. It will explore the essentials of insurance at every stage of your life. Local professionals will help clarify your insurance options and answer your questions about home, auto, flood and other types of coverages. This educational and interactive presentation will provide tools and resources to help protect yourself and your family from the unexpected.
When: Friday, October 24, 2014
11:45 a.m. – Registration and networking
12:15 – 1:30 p.m. – Luncheon and panel discussion
Where: Hotel Colorado 526 Pine Street, Glenwood Springs
Please RSVP by October 17.
Seating is limited. RSVP early.
Katie Reilly – KAREILLY@travelers.com
Haul out the holly, string up the lights, and hang the stockings by the chimney (with care)! The holiday season is finally here, which means it’s time to deck the halls with all kinds of festive decorations.
With Floods all over the news do you find yourself thinkging, “Am I covered?”