Water Well Journal
Issue link: https://read.dmtmag.com/i/767379
Council on Compensation Insurance or other insurance rating groups. The EMR calculation is based on the type of work per- formed and past loss history. The average for an industry is represented by an EMR of 1.0. Companies with EMRs greater than 1.0 are paying a workers' compensation premium greater than the industry average. Companies with an EMR less than 1.0 are paying premiums less than the industry average. The loss ratio is a formula used by insurers to relate loss expenses to income and is closely related to the EMR. The loss ratio is calculated by the following formula: Incurred losses + Adjustment expenses Earned premium If the loss ratio is greater than 1, or 100%, the insurance carrier is paying more to provide coverage for the insured than it received in premiums. SAFETY from page 39 References Birkner, L., and R. Birkner. 1999. Determining the value of occupational hygiene and safety. Occupational Hazards 61, no. 2: 51-52. Birkner, L., and R. Birkner. 1999. The health and safety scorecard. Occupational Hazards 61, no. 6: 51-52. Furst, P.G. 2006. Measuring success—Integrated risk man- agement. Retrieved on web December 16, 2008 from www.irmi.com/Expert/Articles/2006/Furst06.aspx. Janicak, C. 2003. Safety Metrics: Tools and Techniques for Measuring Safety Performance. Lanham, Maryland: Government Institutes. Kaplan, R.S., and D.P. Norton. 1996. Using the balanced scorecard as a strategic management system: Building a scorecard can help managers link today's actions with tomorrow's goals. Harvard Business Review 1: 75-85. Petersen, D. 1996. Safety by Objectives: What Gets Measured and Rewarded Gets Done 2nd Edition. New York, NY: John Wiley & Sons Inc. Petersen, D. 1998. What measures should we use and why? Professional Safety 43: 37-40. Phillips, J. 1991. Handbook of Training Evaluation and Measurement Methods. Houston, Texas: Gulf Publishing Company. Veley, C., N. Richie, A. Coats, J. Disatell, and P. Cook. 2004. A new method of measuring safety performance will soon affect the whole industry. Paper presented at the Seventh Society of Petroleum Engineers International Conference on Health, Safety, and Environmental in Oil and Gas Exploration and Production. SPE: Richardson, Texas. Looking for qualified employees? Looking for the right job? Look to the NGWA Career Center! NGWA.org/CareerCenter Employers: $ Quickly and easily post job openings $ Search resumes of qualied candidates $ Receive a discount if you're an NGWA member. Job seekers: $ Post your resume anonymously $ Access hundreds of job openings and sign up for job alerts $ Take advantage of a host of resources. The Groundwater NGWA Association SM waterwelljournal.com 40 January 2017 WWJ