A family-owned glazing contractor recently experienced a surge in growth, but with it came a string of accidents and rising insurance premiums. This blog will explore the company’s challenges and the solutions STC implemented to create a safer, more cost-effective business. Here’s everything you need to know about how STC improved performance for our client:
The Challenges Presented
The sudden growth of the glass contractor led to a high frequency of Workers’ Compensation and Auto claims, including some severe incidents. As a result, their insurance premiums increased considerably for the next two years. We set out to help them improve their safety procedures to save our client money and, more importantly, save lives.
A Universal Solution
STC implemented monthly executive safety performance meetings and employee safety training courses to establish a more safety-conscious culture. They also conducted regular and frequent safety inspections and near-miss investigations to prevent further claims. STC introduced Swingle Collins & Associates to the client as a new insurance broker, who fully engaged and utilized STC’s services for future insurance renewals.
The Impact of STC
STC and Swingle Collins assisted the glass contractor in reducing their Experience Modification Rating (EMR) from 1.88 to 0.77. Through consistent awareness of STC’s safety initiatives, Swingle Collins leveraged key documentation, which helped lead to significant insurance savings for the client. The glass contractor has experienced a 53% price decrease in Workers’ Compensation (WC) rates since STC and Swingle Collins joined forces.
The glass contractor’s fast growth presented challenges, but with the help of STC and Swingle Collins, they could implement effective safety solutions that not only improved their overall performance but also resulted in significant insurance savings. By prioritizing safety, the company could continue growing without sacrificing its employees’ well-being or the business’s financial health. Want to learn more about STC? Check out our blog today!
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