Are you concerned about the cost of your Colorado workers compensation insurance coverage? Have you heard about the Premium Cost Containment Program (PCCP)?

Introduced by the Colorado Department of Labor and Employment, the PCCP is a voluntary risk management strategy for employers, designed to help them reduce both the incidence and the costs of workers’ compensation claims.

The program sets out a series of compliance measures, leading to certification by the PCC Board. Certification typically qualifies employers for a 5 to 10 per cent reduction on their insurance premiums.

A company must provide documented evidence that a solid risk management program, designed to create a safer workplace, has been in place for at least one year. Evidence typically includes a company safety policy declaration and being able to show that appropriate policies and procedures, such as safety rules, training and appropriate supervision, are in place.

Simply having rules is unlikely to reduce accidents. Ideally, companies should provide evidence that safety policies and procedures are communicated to and understood by workers.

The Board also generally requires evidence that there is a designated safety coordinator or committee, as well as designated medical providers. It may also wish to see evidence that claims have been managed appropriately and promptly, including ongoing communication with the injured employee.

The PCCP is designed to help reduce the rate of Colorado workers compensation claims by improving workplace safety. That is likely to be a win for both employer and employee.

*