Episode #31
S1E31 | 9 Ways Contractors Can Take Control of Their E-Mod and Workers' Comp Costs
Workers’ compensation can be one of the larger expenses in a trades business. But your E-Mod—and the costs connected to it—aren’t completely outside your control. In this episode of Builders, Makers, Doers, Andy Bassett and Elliot Bassett break down nine areas contractors can pay attention to if they want to better manage their E-Mod and workers’ compensation costs. The bigger lesson is that this isn't just an insurance problem. Safety practices, hiring, injury management, payroll accuracy, claims reserves, healthcare relationships, deductible strategies, and the way your company communicates its risk can all play a role. IN THIS EPISODE, YOU’LL LEARN Why a culture of working safely goes beyond having a safety manual or toolbox talks How recover-at-work programs can reduce the impact qualifying claims have on your E-Mod Why pre-employment screenings and the right healthcare providers matter before and after an injury How payroll classifications and claims reserves can affect workers’ compensation costs Why understanding reporting rules and telling your risk-management story can create additional leverage with an underwriter This episode is for contractors and trades business owners who want to understand the levers available to them instead of treating workers’ compensation costs as something they simply have to accept. CONNECT WITH THE HOSTS Andy Bassett CEO, Ellerbrock-Norris https://www.linkedin.com/in/andy-bassett-cpcu-cic-7711853/ Elliot Bassett President and Partner, Ellerbrock-Norris https://www.linkedin.com/in/elliot-bassett-aip-cpcu-84499515/ https://www.ellerbrock-norris.com/ ▶ Watch the full episode and subscribe to Builders, Makers, Doers. Stay Connected & Follow the Movement • Subscribe on YouTube, Spotify, and Apple Podcasts • Follow Builders, Makers, Doers on LinkedIn https://www.linkedin.com/company/ellerbrock-norris/ • Grab a copy of Andy Bassett’s book https://www.ellerbrock-norris.com/book CHAPTERS 00:00 — 9 Ways to Take Control of Your E-Mod 01:00 — Why Your E-Mod Is Controllable 04:00 — Build a Culture of Working Safely 08:00 — Manage Claims Before Injuries Happen 10:00 — Recover-at-Work and E-Mod Impact 14:00 — Pre-Employment Screening and Injury Prevention 17:00 — Choosing the Right Healthcare Providers 20:00 — Get Classifications and Payroll Right 23:00 — Monitor Claims Reserves and Loss Runs 26:00 — Net Reporting and Deductible Strategies 29:00 — Carrier Credits and Underwriting Leverage 32:00 — Take Control of Workers’ Comp Costs We often talk about the 10 impact areas of risk within a business. Now, you can join us for a FREE Resiliency Audit. In 30 minutes, we'll comb through your business, find where you may be at risk, and deliver a detailed plan on how to address the issues. Time to stop being reactive – and commit to being proactive. Schedule your audit today. You clearly like learning how other businesses are building resiliency. From the people the hire to their safety practices, risk management strategies, exit planning and more. Now, you can do a deep dive on YOUR business – for free. We'll dive into your business and deliver a detailed report that shows you actionable next steps and potential cost long-term savings. Sign up today at www.ellerbrock-norris.com/resiliency .
