The CAD-7 Claim Cost Impact Calculator is efficient and user friendly. The program calculates the financial impact related to workplace injuries processed under the Counsel Amended Draft #7 (CAD-7) plan administered by the Workplace Safety and Insurance Board of Ontario (WSIB).

It is critically important that management understand not only the actual cost of claims. It is equally important to know the projected future cost of WSIB claims.

NO ONE can thoroughly manage a loss time claim without knowing the financial impact on the firm. Once the cost impact is known, you will then be able to analyse the situation, look at all possible options, and make the best decision rather than just administrating a paper trail. In other words, you would be playing an active role in getting your human resources back on track through effective and realistic claim management.

Complex and time consuming calculations can be performed simply and quickly in a user friendly environment. The CAD-7 Calculator Program has a comprehensive made easy Help feature, assistance is always just a click away.

Most particularly, you will be able to appreciate the cost impact of a specific claim. The CAD-7 Calculator will produce realistic cost results which in the past only few could determine.

THE CAD-7 CALCULATOR PROGRAM PROVIDES THE FOLLOWING THREE MAIN FEATURES:

FIRST: You may create your firm's CAD-7 report calculations from 1985 to the present.
   

SECOND:Three comprehensive summary reports:

• Firm injury cost data summary
• Firm injury frequency data summary
• Firm standing results summary

THE CAD-7 CALCULATIONS STATEMENT:

As illustrated below, you may create your firm's CAD-7 calculation statements as far back as 1985. This way, the statements can be verified for correctness and accuracy. You may also create, multiple CAD-7 calculations to forecast and compare the differences of various cost scenarios.

 

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As illustrated below, the Program generates three distinctive summary reports: Firm Cost Data, Firm Frequency Data and Firm Standing Results which includes the "Firm Manageable Cost Center". These report summaries, illustrate the experience rating results of the CAD-7 calculations statement for the corresponding accident year(s). 
 

 

FIRM'S INJURY COST DATA SUMMARY

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FIRM'S INJURY FREQUENCY DATA SUMMARY

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FIRM'S STANDING RESULTS SUMMARY

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THE CAD-7 CALCULATOR "WHAT IF RESULTS" WINDOW 

As illustrated below, this screen is broken into three parts in the following order:

• FIRM ACTUAL STANDINGS
• RESULTING DIFFERENCE
• WHAT IF SCENARIO

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The FIRM ACTUAL STANDINGS and the WHAT IF SCENARIO section displays identical data. They reflect the actual values of the CAD-7 calculations statement for the corresponding accident year(s).

The purpose of this screen, is to calculate the RESULTING DIFFERENCE on a "WHAT IF" approach, by changing the Actual Injuries or the Actual Injury Costs, or both. It is these two factors that are uncertain to a firm and which, directly determine the firm experience rating adjustment.

The values displayed in the FIRM ACTUAL STANDINGS, can only be altered, by changing the values from the CAD-7 calculations statement for the corresponding accident year(s).

The values displayed in the WHAT IF SCENARIO, can only be altered, by using the ''WHAT IF'' screen, as follows.
 

THE "WHAT IF" SCREEN

As illustrated below, the small grey window refers to the "WHAT IF" screen. To display this screen click on any year displayed on a white background in the column Valuation Year of the WHAT IF SCENARIO section.

Using this screen, you may project the financial impact, by forecasting and comparing the differences between the input of values by changing the number of actual injuries or actual injury costs, or both. Therefore, the Program calculates the experience rating adjustment based on the new values entered. Thus, displays the Resulting Difference between the Firm Actual Standings and the What If Scenario in actual dollars.

For example, you may want to find out how much money the firm would have saved... had the injury not occurred...had the worker returned to work earlier...should a cost relief (Second Injury Enhancement Fund) or a Labour Market Re-entry (LMR) be warranted.

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A hard copy print out is available.