The Worker Compensation market is a complex and difficult one, especially in the last several years. Employers are experiencing rate increases even though their payrolls have either remained flat or have diminished during a fluctuating economy. Medical costs have skyrocketed affecting the cost of claims, particularly in the area of frequency losses, which has precipitated future changes in how an employer’s experience modification will be determined. Insurance companies and state-funded plans have increased rates due to these costs and other factors.
We help businesses of all sizes minimize losses and reduce costs through a number of ways, including helping to make safety a priority in the operation, implementing Return to Work programs to get injured employees back to work as soon as they’re able to, reviewing claims handling and reporting procedures, pinpointing claims trends, evaluating accident history, and much more.
We’ll also perform a walk-through at your establishment and interview personnel to determine exactly what business operations are performed and the specific activities of each group of employees, to see where changes can be implemented.
This includes reviewing your current insurance policies, your experience modification worksheet, payroll audits, and loss-sensitive rating adjustments, to see where we can make improvements and where there have been problems or miscalculations. Our staff will also review your NCCI classification and conduct an ERM-14 review to make sure that any ownership changes are accurate.