Mentoring & Monitoring
Lower the cost of employer WSIB premiums and gain insights on past claims with our Mentoring and Monitoring program.
Accident Cost Statment
WSIB Mentoring and Monitoring helps companies looking to lower the cost of employer WSIB premiums and gain insights on past claims. The most important document the WSIB sends to employers is the MONTHLY accident cost statement (ACS), and the majority of companies never open this statement. If your company doesn’t review your ACS, this program is for you!
Without some guidance, it can be difficult to know which claims are affecting your bottom line. It can be confusing as this report shows any claim that has drawn benefits/costs in the past month (even if that worker resigned from your company more than 20 years ago).
Companies that participate in the Mentoring & Monitoring program send us their ACS every month so we can concentrate on the claims that will affect their WSIB results. This could be a new claim that has grown in cost quickly or an older claim that is drawing new charges. This helps these companies focus on the important, and current, claims and manage those workers back to full duties.
How the Program Works
For a quarterly monthly cost, we can monitor your ACS providing you with cost savings and important information on a monthly basis.
Not all claims are created equal, we can show you the ones that are costing you.
This service includes current and future year experience rating projections so that companies can accrue for any coming penalties or plan to reinvest and savings being returned to the company for good performance (or in some cases good luck). This will be extremely valuable information with the implementation of the Rate Framework program for budgeting and forecasting future years’ WSIB expenses. For companies that bid for long term contracts or Non-Profit corporations with limited budgets, this information will prove invaluable.
Regardless of industry, every company can benefit from lowering the cost of employer WSIB premiums. Lower premiums mean fewer claims and more profits.