Risk DollarisationTM - Reduced Damage Costs = Increased Profits
Manage Damage introduce Risk Dollarisation - The Financial Approach to Non-Financial Risk. Find out how to protect your profit margins with management of your Damage costs. Australia’s national beef expo is one of the world’s great beef cattle events and is held just once every three years in Rockhampton, Queensland, Australia. Beef Australia 2018 will be held from May 6 to 12 and will be a celebration of all facets of the Australian beef industry. It will facilitate new trade and export opportunities by exposing the local supply chain to the international industry leaders; it will feature more than 4500 cattle from over 30 breeds; a trade fair promoting more than 500 businesses; a symposium, seminars and property tours to deliver new research information to producers; and restaurants, celebrity chefs and cooking demonstrations for visitors to appreciate the quality and flavour of Australian beef
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Risk DollarisationTM - Reduced Damage Costs = Increased Profits
- 1. 1 R1$K DOLLAR1$AT1ON REDUCED DAMAGE CO$T$ = INCREA$ED PROFIT$ Thursday 10 May 2018
- 2. 2 Costs of Damage • Money Talks • The Numbers Don’t Lie • ROI (Proving Value in Prevention) • The Costs of Damage • Risk Dollarisation • Safety Financial Reporting • Create Action • Futuristic Thinking
- 3. 3 Why Do People Go Into Business?
- 7. 7 Don’t Burn Money Create It
- 8. 8 Avoid Catastrophic -Mixer Incidents -Traffic Fatalities -Quad Bike Losses -Falls from a Horse -Little People Losses -Small Aircraft Events
- 10. 10 Beef “Employment Types” -Employees -Family Friends -Contractors (ABN) -Labour Hire -Cash in Hand -Subcontractors
- 11. 11 Plan You Business Future Quantify your Insurance Future?
- 12. 12 Set for Success New Ventures? Restructures? Safety & Insurance Planning
- 14. 14 Top 20 Cattle Regions
- 17. 17 Beef Rates Relativity Jurisdiction Average Premium Rate (15/16) Note: adjusted for employer excess and journey claims Premium Rate Beef Farming (17/18) NSW 1.34 7.3 Vic 1.31 4.6 Qld 1.19 6.6 WA 1.16 8.4 SA 1.89 5.1 Tas 1.55 6.1 NT 1.62 5.0 ACT 1.74 9.0 Australia 1.32 6.5 $500k Wages $6,600 $32,500
- 18. 18 Aust Agri Costs 15-16
- 19. 19 Aust Manu Costs 15-16
- 20. 20 Aust Transport Costs 15-16
- 21. 21 Beef Farming Rates 2017-18 6.6 7.2 4.6 8.4 5.1 9.0 6.1 6.6 7.3 4.6 6.1 6.6 5.3 4.0 5.9 4.8 9.0 6.1 4.2 6.3 5.8 2.4 6.1 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 QLD NSW VIC WA SA ACT TAS Beef Cattle Farming Beef Cattle Feedlots Sheep-Beef Cattle Farming Grain-Sheep or Grain Beef Cattle Farming
- 23. 23 QLD Insurance Costs Agriculture 1st Manufacturing 2nd QLD 014264 Beef Cattle Farming (Specialised) 6.613 QLD 014264 Beef Cattle Feedlots (Specialised) 6.613 QLD 014409 Sheep-Beef Cattle Farming 6.613 QLD 014512 Grain-Sheep or Grain Beef Cattle Farming 4.216 QLD Labour Hire Rates A01100 Agriculture, Forestry and Fishing 3.377 QLD C11000 Manufacturing 2.782 QLD G39000 Retail Trade 2.26 QLD 111104 Meat Processing 4.737 Where is the opportunity here?......
- 24. 24 QLD Damage Costs 38.2 17.6 15.3 28.9 Beef Injury Types WCQ Sprain/Sprain = Muscles Open Wound Fracture Other
- 25. 25 QLD Damage Costs 52% 17% 5% 26% Manufacturing Injury Types WCQ Sprain/Sprain = Muscles Open Wound Fracture Other
- 27. 27 Damage Costs? IMPORTANT NUMBERS Suitable Duties Medical Counsellors Investigators Public Liability Legal Physio External provider Common law Claims Surveillance Doctors Insurance
- 28. 28 Financial Approach Safety • Improved Economic Outcomes • New Language • Clear, Transparent & Accurate • Marked, Measured & Manage • Lets Commercially focused people understand Non-Financial Risk • Risk DollarisationTM has positive impacts & results for all entities including workers and companies.
- 31. 31 Stat Claims Management Surveillance Fines - False Claims Reject Claims
- 33. 33 Stat Claims Management Non Red Flag Claims
- 34. 34 Stat Claims Management CARING FOR WORKER
- 35. 35 Stat Claims Management Who’s job is it to do RTW?
- 37. 37 Want to Know More www.managedamage.com/book