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FEATURE
01 Auto Crashes
Vehicle crashes accounted for nearly 60 percent of all
claims reported to Federated Insurance by electrical
contractors in the past four years – making “auto”
far and away the most frequent type of claim in the
industry. Nearly 68 percent of those claims involved an
accident with one or more vehicles. Not only are crashes
TOP 5 happening often, the consequences can be devastating
when someone is injured or killed. When crashes result in
injuries, those claims are significantly more costly due to
INSURANCE medical, legal, and workers compensation costs.
To help protect company drivers and avoid
crash-related litigation and other costs, electrical
CLAIMS contractors may consider:
Creating, communicating, and enforcing a
company driving policy
Holding regular safety meetings on safe driving
with employees
TRENDS Leveraging technology, such as in-cab video and
telematics, to coach driver behavior
IMPACTING IEC MEMBERS
04 Slips, Trips, and Falls
BY NATHAN S. OLAND, AIC, Adding to the next 25 percent of all workers
LUTCF, SENIOR NATIONAL compensation injuries reported by electrical contractors
ACCOUNT EXECUTIVE, FEDERATED are slips, trips, and falls. While only accounting for a
MUTUAL INSURANCE COMPANY quarter of workers comp claims, these incidents amount
to 32 percent of all workers compensation costs. Why?
Because falling from a significant height, such as from the
top of a tall ladder, can lead to serious injuries impacting
multiple body parts, including an employee’s brain and
The electrical contracting industry is home to unique spine. Initial medical expenses and the potential need for
hazards that can cause life-changing employee lifelong medical care can be costly.
injuries, significant medical expenses, lost productivity,
and costly litigation. Understanding the insurance
claims trends impacting your industry can help IEC To help prevent one misstep from devastating your
members strengthen their risk management culture employees, electrical contractors could:
and avoid adding to the statistics. As the Independent Have fall protection in place where appropriate
while considering how OSHA regulations apply to
Electrical Contractors Official Partner, Federated your business
Mutual Insurance Company analyzed claims reported Hold regular safety meetings focused on fall
by all our electrical contractor clients during a recent protection, ladder safety, and worksite hazards
four year period,* and developed a list of five loss Ensure all ladders in use are appropriate for the
trends that IEC members should keep in mind. job and are in good working condition
28 Insights Magazine | May/June 2021 | www.ieci.org
