Risk, Insurance, and Safety Management: How Your Safety Program Influences How Much You Pay-Risk, Insurance, and Safety Management Webinar

Video Transcription

Video Summary

In this webinar, hosted by PCI in partnership with Amerisafe Consulting and Safety Services, the presenters discuss risk insurance and safety management and how a safety program influences insurance costs. The webinar is moderated by Nicole Clow, Marketing Coordinator at PCI. The presenters are Steve Yates, Senior Director of Business Development at Amerisave Group, and Scott Razor, former President of Construction for Zurich North American Insurance.<br /><br />The presenters emphasize the importance of building a culture of safety within an organization and actively participating in the safety program. They discuss various risk management techniques, including avoidance, retention, spreading or risk sharing, prevention or reduction, and transferring the risk through insurance or contracts. They highlight the impact of these techniques on insurance costs and emphasize the need for effective risk management to reduce insurance premiums.<br /><br />The presenters also discuss the calculation of experience modification rates (EMRs) and the factors that underwriters consider when determining insurance prices. They stress the importance of documenting safety training and education, maintaining a robust incident tracking and reporting system, and conducting safety surveys or audits. They also mention the financial stability of the organization and their ability to invest in safety measures.<br /><br />The webinar concludes with a discussion on the savings and cost benefits of investing in safety programs. The presenters highlight the potential cost savings and return on investment that can be achieved through effective risk management and safety programs. They encourage organizations to view safety as a profit center and to actively manage and reduce their insurance costs through a commitment to safety.

Keywords

webinar

risk insurance

safety management

safety program

insurance costs

culture of safety

risk management techniques

experience modification rates

underwriters