PPC’s Safety Tied to Experience Modification Rates

Here at Penington Painting Company, safety trumps most things when we’re working on a project. We cherish safety because we know these projects can be dangerous, and it is vital that we take care of our team and clients. In fact, safety is so important to us, we offer bonuses that are awarded where exceptional care to safety is shown. Since we have began awarding these safety bonuses, over $400,000 has been awarded to team members for impeccable safety care.

As hard proof of our importance on safety, our experience modification rates continue to lower every time the rating is applied. Those of us not in the insurance industry might be wondering, “What is experience modification and how does it reflect PPC’s safety?” Experience modification is an insurance term that reflects a company’s risk factor when insuring for workers compensation. The rating bureau takes in information reported by insurance companies in the past three years that relate to workers compensation and injuries on the job. Once that information is collected and translated into an insurance loss calculation, the ratings bureau determines the experience modification rate for the company. The lower the company’s risk regarding safety, the lower experience modification rating they will receive. This lower rating basically means the company pays less for workers compensation than other companies would because they are at low risk of needing to use the injury insurance.

At PPC, we have been able to prioritize safety enough over the years to achieve an experience modification rate of 0.81 the last time it was evaluated in 2013. This rating has only been accomplished through Team PPC’s emphasis on safety through procedures like our Site Specific Safety Plan, which outlines potential hazards that could go along with the current job site, as well as how we will work around them to ensure safety. Team PPC also provides Material Safety Data Sheets to the client and employees. Our foremen on Team PPC generate a “Pre-Task-Plan” before any project begins, that outlines potential hazards and how to avoid them as even more caution against the dangers of the project.

Over the years, Team PPC has been able to develop stellar safety procedures that focus on keeping both team members and clients safe at all times. This attention to safety has shown itself in our experience modification rate declines over the years. Team PPC is proud of all of our employees for their work ethic, attention to detail, and responsibility for safety.

Photo courtesy of Dreamstime by Nightman1965.