High blood pressure — A hidden danger for your truck drivers

Doctor with patientIf you’re running a logistics business or division, you know how important it is to have reliable and healthy truck drivers. Although most health conditions are easy to diagnose and treat, there’s one in particular that’s tricky to spot — High blood pressure. That’s because high blood pressure (also known as hypertension) often doesn’t show any symptoms, and that’s a real problem.

Left untreated, high blood pressure can lead to significant problems for your truck drivers including:

  • An enlarged heart, a big risk for heart failure.
  • Aneurysms in blood vessels, which can be fatal.
  • Kidney failure.
  • Vision problems and blindness.

It’s estimated that over 65 million Americans (around a third of the adult population) have high blood pressure, and one in three of those people aren’t aware they’re affected.

Why high blood pressure is a real issue for truck drivers
Truck drivers have a greater risk of high blood pressure than others, mainly due to the nature of their work. Some of the causes of high blood pressure include:

  • A poor diet with too much salt — Eating healthily on the road is a real challenge, and many truck drivers will opt for fast food. Unfortunately, the high proportion of salt and lack of other nutrients is a risk factor.
  • Too much alcohol – We hope you already have drug and alcohol testing policy and procedures in place to ensure no drinking on the job, but you can’t control what happens after hours.
  • Lack of exercise — Spending almost all of their working life behind the wheel of a truck leaves little time for exercise. Being overweight or obese significantly increases the chances of high blood pressure.
  • Stress and anxiety — Dealing with other road users can create significant stress for long-haul truck drivers.

Dealing with high blood pressure issues for your drivers
As with most health issues, prevention is much better than cure. That’s why taking a few simple steps could reduce the risk of high blood pressure in your drivers, help them stay healthy, and reduce downtime due to sickness. Some of the steps you can take include:

  • Education and training — Let your truck drivers know about the risks of high blood pressure including why and how they could be impacted. Encourage them to get tested and provide clear, simple ways for them to get training on how to avoid the issue.
  • Policy changes — Introduce policies that encourage healthier behavior. Give truck drivers a 30 or 45 minute break each day that they can use to exercise. Incentivize them to eat more healthily by providing discounts for particular types of restaurants or meals.
  • Support and resources — Get some help in place. Arrange for a nurse to come on site to provide blood pressure testing and personalized advice on what your truck drivers can do. Provide maps of where to find restaurants with healthy eating options on the popular trucking routes. Introduce a formal wellness program into your workplace.
  • Health insurance and medication — Even with all these preventative measures, you will still have some drivers who develop high blood pressure problems. In those cases, you’ll want to ensure they have the right health insurance and get access to the doctors and medications they need to control their medical conditions.

If you want to keep your truck drivers healthy and happy, you can start right now. Just using one or two of these suggestions could significantly reduce the frequency and impact of high blood pressure problems. That means healthier employees, less time off sick, and a more efficient trucking operation.

Jonathan Belek
Risk Management Consultant
jbelek@srfm.com

blood pressure trucking

The Key to Controlling your Workers’ Compensation Costs

The key to controlling your workers’ compensation costsThe key to controlling your workers’ compensation costs is understanding your experience modification factor and its effect on your insurance premium. Workers’ compensation costs can make or break your bottom line. But control over these costs is more attainable than you may think if you understand your experience modification factor and its effect on your insurance premium.

Use Your Mod Factor

The key to controlling your workers’ compensation costs is understanding your experience modification factor, or mod factor. Your mod factor is an adjustment to your workers’ compensation premium. It’s based on your company’s actual losses compared to its expected losses based on the industry you’re in.

The mod factor represents either a credit or a debit that is applied to your workers’ compensation premium. A mod factor greater than 1.0 is a debit mod, which means that your losses are worse than expected and a surcharge will be added to your premium. A mod factor less than 1.0 is a credit mod, which means losses are better than expected, resulting in a discounted premium.

If your mod factor is over 1.0, show management how controlling costs can save you money on your insurance premium when it falls below the 1.0 threshold.

Control Your Mod Factor

You may not know it, but you do have control over your mod factor—and control over your workers’ compensation premium.

Your mod is calculated based on data reported to the rating bureau by past insurers. Incorrect or incomplete data can cause inaccurate mod factors. Review your loss and payroll data to ensure that your calculation is complete and accurate.

You can also control your mod factor by encouraging everyone to focus on safety—especially management and anyone else who is involved in controlling costs. Everyone working safely means fewer accidents to report to your insurance carrier and a lower mod factor.

Control Costs with a Return to Work Program

Another way to control your costs is to establish a return to work program and give modified or light duties to injured workers who can return to work.

Finding modified or light-duty tasks may seem inconvenient, but this is an important way to reduce your workers’ compensation costs—you pay for fewer days away from work and you keep regular contact with employees, so you can see how their recovery is progressing. The most successful return to work programs can accommodate almost any restrictions. 

Workplace Policies Help Control Costs, Too

Your workplace policies should encourage safe working habits and prompt reporting of injuries and accidents. Many companies have accident reporting policies in place but do not bother to implement them, which is dangerous because employees’ injuries could go untreated and hazardous situations will not be improved.

When you receive a claim for an on-the-job accident or injury, report it to your workers’ compensation provider as soon as possible.

After an accident or injury, investigate the event right away. Prompt investigation helps you preserve evidence and can deter employees from making fraudulent claims in the future.

If workers’ compensation costs are hurting you financially or if you want to learn more about how your mod impacts your premiums, Sinclair Risk & Financial Management is your resource for policies and guides to keep your costs in check. We’re here to help you protect your company and your bottom line.

Jonathan Belek
Risk Management Consultant
jbelek@srfm.com

The key to controlling your workers’ compensation costs

Disruption Ahead: The Brave New World of Self-Driving Cars

the self-driving car is comingLike it or not, self-driving cars are coming.  A rapid increase in the use of “autonomous automobiles,” as industry savants prefer to call them, is seen by many as a foregone conclusion.  Following the early lead of Google, which has been developing the concept for over six years, virtually every carmaker in the U.S. market is working on some version of this new technology.  Some, like Tesla and Cadillac, are already introducing aspects of these systems into their cars.  The ultimate mass-market endorsement, though, was surely the recent Time Magazine cover story that devoted a whopping nine pages to the subject, mostly extolling the upsides of this “next big thing” and the vastly transformative affect it will have on our lives.

Within the US insurance industry, however, everything about the coming of the self-driving car is not so rosy.  While much about the future of these cars is open to vigorous debate — for the simple reason that their full impact on the daily lives of American drivers is unknowable at this point — many in the insurance industry see these new cars as a potential source of disruption.  And not in the happy, trendy way tech entrepreneurs like to throw that term around.  The capacity for autonomous driving to reduce traffic accidents and especially fatalities, and all of the personal, legal and emotional costs that come with them, will likely undermine much of what is currently considered accepted fact in the automobile insurance business, and not just a little.

The most dire outlook so far was laid out last year in a report by the influential accounting firm KPMG, which predicted that a steep decline in automobile accidents over the next decade would be followed by a corresponding drop in accident claims and insurance premiums.  Within 25 years, the report predicts, these declines could reduce the volume of the entire insurance industry to “40 percent of its current size.”  According to the Insurance Information Institute, research shows that even in its earliest stages, the bits of driverless technology and related safety features already introduced into American cars have begun to reduce the number of fatalities between 2008 and 2011 by as much as a third.  This trend will pick up more speed as more pieces of these systems are added will have an ever greater influence on the economics of the industry.

 Other predictions about the timing and extent of these changes vary greatly.  The most optimistic estimates for the complete adaptation of the autonomous automobile pinpoint the year 2030 as the date by which all American cars will have this technology.  Other sources see too many potential roadblocks still lying ahead for there to be complete market penetration by anything close to that date.  Most estimates see a gradual introduction of features over the next two to three decades with a proportional decline in the role of the driver as the technology is refined and the public, as well as federal and local governments become more comfortable with it.  By some accounts, the complete integration of this technology could take another 30 to 40 years, if not longer.

In addition to the fundamental economic impact of driverless cars on the insurance industry, there is also a thicket of legal and political issues about liability and culpability that has to be cleared over the next several years, a task made all the more difficult because many of those issues need to be worked out on a state-by-state basis.  If the past is any indication, the big question about who is responsible in a collision involving an autonomous car: the owner, the car manufacturer or the developer of the technology — and their respective underwriters will be pounded out one small increment at a time.  So hang on for a very bumpy ride, which is the one aspect of this automotive innovation that is not likely to be fixed by technology.

Jonathan Belek
Risk Management Consultant
jbelek@srfm.com

Jonathan-Belek

Manufacturers: Are you insuring your building and property correctly?

Jonathan-BelekWould you insure your house for $500,000 when you only paid $200,000 for it? Of course not.

Here’s another question. Say that the house you purchased for $200,000 burns to the ground. Would you expect your insurance policy to cover the replacement cost of your house based on the $500,000 coverage you were paying for? Of course not.

It all sounds crazy, but manufacturers encounter such scenarios all the time because they don’t correctly insure the value of their building and property.

Here are some things you should know to determine if you are adequately valuing your building and property.

The first thing to understand is how property is valued. Insurance coverage is either valued on a replacement cost or actual cash value basis.  The difference between the two is depreciation. manufacturer building property insurance

Replacement cost is the cost to replace your property if it were new today. Actual cash value is the replacement cost minus the depreciation on your property. For instance, if your 10-year- old excavator is destroyed by a felled tree, your insurance company would replace it with another 10- year-old excavator, not a brand new one.

So, it is important your insurance policy reflects the depreciation value of your property. That way you’ll be adequately covered in case of a loss.  Many manufactures list the new cost of their equipment on their policies but never update it based on depreciation

Another thing to understand is the difference between blanket limit and stated insurance.

Blanket limit is coverage you’ll need if your business operates at multiple locations. For instance, if all your locations were destroyed your insurance would cover each property under the policy.

Stated insurance is when you have a single property that needs to be covered in case it burns down, or is destroyed by a natural disaster.

At Sinclair Risk & Financial Management, I’m known as the risk doctor and problem solver. Email me today at jbelek@srfm.com to talk about implementing an insurance plan that’s right for your business.

Jonathan Belek

Sinclair Risk & Financial Management

Contractors – Hiring summer help? Follow these safety tips

Jonathan-BelekChances are you remember your first summer job. Maybe you delivered newspapers or hauled bales of hay on the farm. Looking back, the experience and skills you gained on the job was invaluable. And the money you earned helped pay for college or to buy a new stereo.

Each year, about 6 million young people swell America’s workforce by taking summer jobs. It seems like a win-win situation for everyone involved. But hiring young workers can be risky for your company if they aren’t properly trained.

It’s a proven fact that new employees are more likely to be injured on the job than seasoned workers.  The statistics rise dramatically for younger workers. According the Occupational Safety and Health Administration, 335 young workers died in job-related injuries in 2013.Construction Worker

If you are hiring young workers this summer follow these safety tips from OSHA to reduce work-related injuries.

  • Communicate with your young employees. Giving them clear instructions for every task they are responsible for will cut potential injuries. Encourage them to ask questions. When new employees, especially teenagers, understand why they’re being asked to do something, they’re more apt to comply.
  • Make sure equipment operated by young workers is safe and legal to run. Let them know what equipment they are not allowed to use. Young workers should never work alone.
  • Train young workers to recognize job hazards and to know what to do if they get hurt on the job. They also should know how to report an injury, or spot a hazard.
  • Provide young workers with personal protective equipment required for your industry such as steel-toed shoes and hard hats.

For more information on hiring young workers visit OSHA’s teen worker website by clicking here or give me a call – that’s what I’m here for!  203-265-0996

Make it a safe and happy summer for your company and for your young workers.

At Sinclair Risk & Financial Management, managing risk is in our DNA.

Jonathan Belek

jbelek@srfm.com

Construction Risk Management Consultant