What is the Difference Between a Broker and a Book

I am often asked why, when doing an assessment, I ask “Do you have at least one book about workers’ compensation on your shelf?” It sounds so silly, but it’s really not. The companies with the lowest workers’ compensation costs have resources! I’ve seen it over and over. It goes like this … there are three divisions in a company and two don’t have any books about work comp on their shelves and one DOES have a book. The one with the book always has lower losses and employees back to work sooner.

Companies in the know, know what they don’t know and almost 100% of the time have at least one book on workers’ compensation on their shelf. I’m not just saying this because Amaxx publishes a book on Workers Comp Cost Containment (although it’s a great book), I’m telling you this because it’s the truth.

Clients argue that “they ask their brokers and their TPAs” about workers’ compensation cost containment so on the National Workers Compensation Management Score, they should get an extra point for asking a broker, carrier or TPA about workers’ comp cost control. But, there’s a difference. Much of the time that’s reactive, not proactive. And you don’t have it “at your fingertips” to browse at will.

Newsletters, conferences, and your brokers, TPAs and carriers offer great information, but you need a resource at your fingertips, especially if you plan to teach others on your team about workers’ comp cost control, but it’s not realistic to rely on your broker for a complete education. Many offer excellent seminars and have consulting expertise which can supplement the other tools you have at your disposal.

Over the years, I’ve used several resources including IRMI. You can read about that on my site at IRMI Manual. And U.S. Chamber of Commerce WC Analysis. I bet your broker has this and you can get a free copy from them.

Learn about IRMI WC Manual: http://www.reduceyourworkerscomp.com/IRMI-Workers-Comp-Guide.php You’ll receive a 10% discount if you use our WC8 Code.

Read about Amaxx book here: http://www.reduceyourworkerscomp.com/workers-comp-books-manuals.php Receive a 20% RIMS Member discount.

WC Calculator www.ReduceYourWorkersComp.com/calculator.php
TD Calculator www.ReduceYourWorkersComp.com/transitional-duty-cost-calculator.php
WC 101 www.ReduceYourWorkersComp.com/workers_comp.php

Do not use this information without independent verification. All state laws are different. Consult with your corporate legal counsel or other professionals before implementing any cost containment programs.