Media Release
Claudia Ciolfi
IWIF Communications
410-494-2193
cciolfi@iwif.com

IWIF’s Workplace Safety Week Targets Older Workers

(TOWSON, MD)–IWIF Workers’ Compensation Insurance will promote the importance of workplace safety for older workers during the company’s sixth annual Workplace Safety Week, June 17-23. The public outreach initiative educates policyholders, agents and brokers, and Maryland business owners and their employees, about the potential injuries facing workers ages 50 and older as a result of the natural aging process.

To help policyholders and employers prevent costly workplace accidents involving their older workers, IWIF created a safety information kit for employers of older workers. The kit is free and includes information about older worker injuries, a workplace safety poster, and several safety tip sheets for older workers.

“We understand the value that older workers bring to the workplace,” says Vice President of Communications Donna Wilson. “They bring experience, craftsmanship and expertise as a result of their many years in the workforce. Our message reflects this.”

As the baby boomers approach retirement age, many are delaying retirement and deciding to stay in the workforce. The U.S. Bureau of Labor Statistics reports the percent of workers 55 years and older is increasing. It is projected that by the year 2012, nearly 20% of the American workforce will be 55 or older. Or, by 2010, one in five workers will be age 50 or over.

Statistics from national and state sources, as well as IWIF’s claims data, show older workers have fewer accidents in the workplace than younger workers, but take longer to heal and cost more per claim.

According to the National Council on Compensation Insurance’s latest study, older workers experience relatively higher cost injuries and require more medical treatments than younger workers. In fact, the cost is more than twice as high ($27,000) versus younger workers ($12,000).

“IWIF data mirrors this trend,” says Tim Michels, executive vice president of Claims. In 2006, workers who were aged 50 to 80 filed 931 lost-time indemnity claims with IWIF, about 22% of total claims. The average cost per IWIF claim involving an older worker was $14,700, versus $10,000 for claimants under the age of 50.

Joe Gillian, Loss Control Director says: “The leading injuries for older workers are to the back, knees and shoulders.”

To order a free safety information kit for employers of older workers, visit iwif.com or email publications@iwif.com.