6 reasons to manage IOD claims effectively
6 Reasons to manage IOD claims effectively
- There is a legal responsibility to report all
incidents and diseases (that require more than 3 days off and/or medical
care) to the commissioner.
- The worker is entitled to the protection of the
act and it is therefore an ethical duty to report the appropriate cases
correctly for any permanent disability payment to be made to the
worker.
- Claiming back the Temporary Total Disability
(wages) is one way of reducing the loss due to lost time accidents and
occupational diseases which can cause a huge direct and indirect financial
loss, and the annual payment to the commissioner is also a large chunk of
cashflow.
- To attain the standards set in SHEQ programmes
like NOSA etc, the process of claiming has to be effectively
managed.
- The well managed accidents provide a source of
data for analysis for addressing the financial loss due to lost time
accidents and occupational diseases.
- It is possible to reduce your rating with the
commissioner if the full cost of each claim is known and less than the
annual payment by approximately 20%-this requires careful monitoring of
the process and each claim.
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