THE PROOF IS IN
THE NUMBERS

 

 

 

SAFETY PLUS CLIENT AVERAGES

 

The following numbers are based on clients that have been with Safety Plus for an average of 3 years.  S+ has clients that range from as small as 9 employees to as large as 1200+ employees.  Combining all these clients, S+ has come up with an average sized company as used in the examples below:

 

BEFORE BECOMING A SAFETY PLUS CLIENT

                                                                                                                                              Total Costs

Base Rate for Workers’ Compensation                                                            $125,000

Experience Modification Rate for Insurance                                                           1.20

Total Workers’ Compensation Premium                                                          $150,000                                                 $150,000

Workers’ Compensation Claims                                                                        $  75,000

Deductibles/Legal Expenses Associated with Losses                                  $  12,000                                                 $ 12,000

Medical Cases not Turned into Insurance Including Wages                       $  10,000                                                 $ 10,000

Equipment/Property Damage (both Company and Customer)                     $  10,000                                                 $ 10,000

Regulatory Penalties (both from audits and inspections)                             $    5,000                                                 $   5,000

Non-Productive Time (based on lost productivity during                            $  25,000                                                 $ 25,000

   accidents/injuries, light duty for recovering employees,

   filing forms, communicating with insurers, etc…)

                                                                        TOTAL COSTS                                             $212,000

 

AFTER BECOMING A SAFETY PLUS CLIENT

                                                                                                                                              Total Costs

Base Rate for Workers’ Compensation                                                            $125,000

Experience Modification Rate for Insurance                                                           0.90

Total Workers’ Compensation Premium                                                          $112,500                                                 $112,500

Workers’ Compensation Claims                                                                        $  22,500

Deductibles/Legal Expenses Associated with Losses                                  $    2,000                                                 $   2,000

Medical Cases not Turned into Insurance Including Wages                       $    2,000                                                 $   2,000

Equipment/Property Damage (both Company and Customer)                     $    3,000                                                 $   3,000

Regulatory Penalties (both from audits and inspections)                             $    1,000                                                 $   1,000

Non-Productive Time (based on lost productivity during                            $    3,000                                                 $   3,000

accidents/injuries, light duty for recovering employees,

filing forms, communicating with insurers, etc…)

                                                                                                TOTAL COSTS                     $123,500

                                                                                                SAVINGS PER YEAR          $  88,500

 

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