Financing options for workers' compensation
Article Abstract:
There are several ways by which companies can control the rising costs of workers' compensation. One way is through self-insurance or self-funding of losses. Under this program, the company itself buys insurance covering random catastrophic losses, as well a claims service and loss control service. Another means of funding workers' compensation loss payments is through paid-loss retrospective rating program. Such an arrangement can improve cashflow by permitting companies to retain the loss dollar amounts until injured workers are actually compensated. A third funding option is the large deductible restrospective program which also helps enhance cashflow by allowing firms to self-insure the deductible amount for which they are charged only admistrative and 'loss adjusting' expenses. A fourth option is the Cash Flow Restrospective Plan. Companies are advised to consider several issues first before they choose any one of these programs.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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Getting faster decisions from your boss
Article Abstract:
Many senior managers tend to delay important decisions on matters that need to be resolved quickly. The reasons vary, for some it may be due to the fear of making errors and being perceived as being incompetent, for others this tendency to procrastinate may be linked to an overriding desire to do things perfectly or to poor communication skills. Whatever the reason, employees working under such senior managers need to take action to ensure that important decisions are made. Steps that an employee can take to help a boss faced with this problem would be to develop a plan that would help the boss make an immediate decision, inform the boss of the importance of making this decision as quickly as possible, provide the boss with the information needed to make the decision, make a specific request for a decision, and reinforce the decision made with a positive gesture of appreciation.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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