The number-one workers’ compensation insurance concern of employers for the next 12 months is cost containment, a new study shows. In its report of 3,500 employers, SaaS solutions provider Zywave revealed that 59 percent of respondents said they are very or somewhat concerned about their ability to contain costs this year. Employers are also concerned about increasing exposures, renewals and rising fraud behaviors.
Conducted from January 6 to February 24, Zywave’s Workers' Compensation Safety Survey studied 20 business sectors, with the heaviest representation coming from manufacturers (17 percent), health care and social assistance providers (15 percent), and construction (13 percent). Survey respondents included human resource personnel (36 percent), finance staff (19 percent), CEOs or presidents (16 percent), and other staff, including safety managers, risk managers and operations directors. Some 57 percent of those participating reported workers' compensation premiums under $50,000 annually.
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