Safety in the workplace pays off
IN THE CITY
by Martin Puckett
I am pleased to announce that the city of Presque Isle has again received a dividend check from the Maine Municipal Association Risk Management Services as a result of our lower than average loss experience and safety programs.
The city met multiple benchmarks to receive the check. For the workers compensation fund, the 2012 loss ratio had to be less than 40 percent and the three year loss ratio less than 75 percent. For the property and casualty pool, the goal of a loss ratio less than 50 percent for last year was also met. Accompanying the check was a letter from our insurer, thanking us for our good management practices and sound loss prevention measures.
Having lower than average losses has many benefits. Each year the city relies on this dividend check from our insurer. We factor the revenue into our budget to offset the premium costs, thereby reducing the amount needed from taxation. The second benefit is that the city pays less in premiums for our property and casualty insurance and workers compensation fund than our “average” municipal counterparts across the state, again saving tax payers money. Undoubtedly, if the premiums increased due to less than average ratings, funds would have to be taken from elsewhere in the budget.
The best thing about the dividend check lies in the formula itself -— our employees are the reason the rates are favorable. Safety does pay and should be considered a business asset. City employees are safety conscious while working. Great job and keep up the good work.
Martin Puckett is Presque Isle’s deputy city manager. He can be reached at 760-2780 or via e-mail at mpuckett@presqueisleme.us.
