West Virginia University has reduced its workers’ compensation costs by about $600,000 and is looking for more ways to save money.
WVU Office of Risk Management head Mike Ganso tells The Dominion Post that the effort includes training programs to help avoid on-the-job injuries.
Workers’ compensation claims have declined from about $1.6 million in fiscal year 2012 to about $700,000 in the fiscal year that ended June 30.
The decline in claims has enabled WVU to change its insurance policy.
Senior vice president Dan Durbin says WVU’s insurance in the past was similar to a personal auto insurance policy. Someone would pay a monthly premium and have insurance regardless of the damage amount.
Now, Durbin says WVU’s new insurer, BrickStreet, basically pays the claims directly.
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