Top 10 Metropolitan Areas in Growth: Nashville, Tennessee
Nashville is booming. A recent ranking report from real estate investing platform Roofstock finds that the metropolitan Nashville area is among the 10th fastest growing metros in the United States. Prior to the pandemic, Nashville was already a hotspot for new residents. Today, the transition to remote work has accelerated a trend that has been gaining momentum for years – workers fleeing expensive cities in favor of warmer, more affordable locations. Since employees can work from anywhere, Nashville has attracted even more people who call Music City home.
200+ Large Commercial Construction Projects
Crane Watch, by the Nashville Business Journal, has become a commonly discussed topic to locals. The interactive guide to Nashville’s commercial real estate highlights the nearly 200 projects currently under construction or in the pipeline, ranging from $100M+ ventures, hotels, office space, and mixed-use.
Nashville’s explosion has come much faster than many anticipated, but with economic growth comes major problems for many of our local businesses. OSHA’s data highlights some of the real work incidents occurring in our city. Sample categories include fractures, internal injuries, or worse. Reportable instances include a forklift running over a foot, a doorframe falling on an employee, and a slip-and-fall due to wet pavement.
Common injuries are not restricted to certain industry.
Nashville Worker Accidents by Industry
General Warehousing and Storage
Just recently, a local news station, WKRN, covered a story on 2 injured in fall at North Nashville construction site. These construction workers were transported to a hospital after suffering injuries from falls on the job. The incident is under investigation by the Tennessee Occupational Safety and Health Administration. Fueled by the demand for economic growth, labor activists are promoting safety at a greater rate in Nashville.
Risks are inherent with any type of business and job function. Businesses that employ for a specific job must be aware of the overall risk posed to each person.
Of the over 295,000 worker injuries and illnesses reported in 2019,
*1st - 7.2% Freight, stock, and material movers incidents
*2nd - 5.4% Heavy and tractor-trailer truck driver incidents
Common Workplace Injuries
- Falling objects
- Motor vehicle accidents
- Cuts and lacerations
Businesses are also liable for injuries that occur to employees during team building events or toxic chemicals leaked into the office workspace.
Top 4 Steps to Prevent Workplace Injuries
Prevention is the first line of defense for all businesses. Employers have a responsibility to provide a safe workspace by:
- Providing a workplace free from serious recognized hazards and comply with standards, rules, and regulations issued under the OSH Act
- Making sure employees have and use safe tools and equipment that is properly maintained
- Use color codes, posters, labels, or signs to warn employees of potential hazards
- And establish or update operating procedures and communicate them so that employees follow safety and health requirements
Workers’ Compensation Insurance
Even if a business follows every safety guideline, accidents or deaths may occur. Businesses must ensure they have the right workers’ compensation insurance, designed to help cover an employee’s medical costs and lost wages if they are injured at work. This type of insurance also protects employers from personal liability and financial loss because of the workplace injury. Workers’ compensation insurance eliminates the need for litigation and creates an easier process for the employee. In turn, the business and owners are protected from financial risks.
Workers’ compensation insurance is also designed to help companies pay benefits. Many states require employers carry some form of workers’ compensation insurance, designed specifically for injuries sustained on the job. This protection provides payments to injured workers, without regard to who was at fault in an accident – from time lost and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.
Each state has different law governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services, and how the system is administered. Workers’ compensation insurance is a separate policy from general liability and professional liability coverage.
Talking to a local agent can help business owners navigate the complexities of this type of coverage. To be prepared for your meeting, you should ask your agent these questions:
Top 5 Questions to Ask Your Insurance Agent: Workers’ Compensation
- What are the state rules and regulations for coverage?
- Is there automatic coverage for work in other states?
- How do safety and drug programs impact workers’ compensation rates?
- How does the carrier handle employees in the event of a claim?
- What is the reputation of the insurance carrier?
Preparation is critical in ensuring the financial wellness of any business, the employees, and their families. Coverage should not be based solely on lower rates alone. Some businesses end up with inadequate coverage or they pay too much for their policy. We encourage every business to know the facts before committing.
Receive a workers’ compensation quote and compare prices.
Montgomery & Associates Insurance & Financial Services is a trusted source in commercial insurance in Tennessee and across the nation.
Call for a free rate quote: 855.207.9492