Planet Fitness Risk Management & Insurance Services

DID YOU KNOW BUSINESSES SEE A $4 TO $6 RETURN ON EVERY DOLLAR INVESTED IN SAFETY?
Our safety manuals & materials help you create and promote a safety minded workplace. We can provide newsletters, bulletins, flyers, a comprehensive worker safety manual and much more to keep safety on top of mind.

WHAT ARE YOU DOING TO LOWER YOUR EXPERIENCE RATING MOD (ERM)?
We can help you reduce your workers’ compensation premium and qualify for jobs by helping you take control of your NJ ERM through the use of a comprehensive risk management plan, which seeks to reduce your workers’ compensation premium by acting on all its contributing factors, from loss control to cost containment.

DOES YOUR COMPANY HAVE A SAFETY PROGRAM?
Safety culture = risk reduction. We understand this and can offer you employee safety programs to help you reduce the risk of injuries and illnesses in your workplace.

TIMELY UPDATES ON NEW AND REVISED OSHA REGULATIONS
OSHA standards and requirements are changed and updated constantly, and keeping track of these updates can be a job in itself. You have a business to run. Let us worry about compliance. We can provide attorney-reviewed documents that outline your obligations.

ARE YOU PREPARED FOR OSHA INSPECTIONS?
An OSHA inspection can result in a tarnished reputation and thousands of dollars in fines. Our checklists & inspection tools will help address potential issues before an inspector makes an unannounced visit.

DOES YOUR BUSINESS COMPLY WITH OSHA’S HAZ-COM STANDARDS?
We can provide toolbox talks, workplace posters and hazard communication programs that can ensure that your employees stay safe and that your business is compliant with OSHA standards.

FREQUENTLY CITED OSHA STANDARDS
OSHA TRAINING PROGRAMS
OSHA Safety Statndard Awareness isn’t enough; you also need to ensure that your employees are trained and ready to adhere to OSHA requirements. We can provide customizable training packets, including presentations, employee handouts, quizzes, and a meeting sign-in log.

Risk exists everywhere in all business environments. One big mistake many companies make is assuming that the cost of risk only involves insurance premiums paid, retained losses & administrative costs. However, the TOTAL cost of risk includes far more than that.

One way to discover all of the risks facing your business—including risks that are unseen & unaddressed in your risk management program—is to examine the total cost of risk or TCOR.

TCOR is the total cost of the items that businesses are responsible for, including:

• Insurance Premiums
• Retained Losses (deductibles and uninsured losses)
• Indirect Costs
• Transaction costs
• Loss of reputation
• Loss of market share
• Overtime
• Additional training
• Product loss
• Production decrease
• Claims reporting and investigation
• Fines
• Calculating TCOR can provide a form of measurement for assessing how its risk-related costs are changing, relative to the overall growth rate of the business.

WHY IS KNOWLEDGE OF TCOR IMPORTANT?
By only focusing on insurance premiums to quantify risk, you miss many costs that you have more control over. The benefit of decreasing premiums is negated if your business sees an increase in indirect costs of claims and administrative costs. True cost reduction is most impacted by lowering indirect costs, which can often cost more than actual claims. TCOR helps identify those costs.

HOW DOES TCOR WORK?
TCOR is measured per $1,000 of revenue. By measuring TCOR against revenue, we can measure the progress that risk management and safety program makes in reducing internal costs throughout the years.

BENEFITS OF KNOWING YOUR TCOR
Businesses that accurately measure TCOR invest in more effective risk management efforts, which can provide a significant rate of return. TCOR helps businesses realize the following benefits:

Increased profitability, productivity and efficiency
Reduced costs across the entire business, rather than only reduced insurance premiums
Identification of inconsistencies in the organization’s risk management approach

Enterprise Risk Management (ERM) is designed to uncover exposures from your day-to-day business operations. Strategies are customized to address key exposure elements identified during this process. Our methodology is simple. We analyze your business operations from every angle to uncover hidden exposures not seen on paper. The results address the complex exposure issues your business faces to deal with in today’s marketplace. This process looks at four main asset categories: organization, personnel, net income and property.

Our experts conduct a technical review of your policies, coverages, claims and loss histories, operations, and safety and health programs. We assist in quantifying your total cost of risk. This provides the foundation for the remainder of our ERM assessment.

We can provide a comprehensive outsourced HR department – or customized, à la carte solutions with an affordable and flexible pricing structure which aligns to the size of your workforce and budget.

Our Services Include:

• Pre-Employment Engagement
• New Hire Onboarding
• Personnel Files and Labor Law Posters
• Workers Compensation and Other Leaves
• Employee Relations
• Exiting Employees
• Paid Time Off

ARE YOU PREPARED FOR A CATASTROPHE OR BUSINESS EMERGENCY?
Our business continuity articles, guides and plans will help you create a policy to prepare for emergencies.

DO YOU HAVE A DISASTER RECOVERY PLAN IN PLACE?
A catastrophe or business emergency can be crippling for your organization, and most businesses don’t have a formal emergency response plan in place to safeguard their futures. Our team can guide you through the recovery process to help minimize the loss of revenue & customers, maintain your reputation and clarify the critical decisions to be made during a crisis.

DO YOUR EMPLOYEES HAVE THE PROPER TRAINING IN THE EVENT OF A BUSINESS INTERRUPTION?
During a crisis, your employees should know how to protect your business & customers, know who to contact and know how to keep themselves safe. We will help your employees know the exact steps to take during an emergency.