• Risk Management Strategies
  • Property & Liability Coverage
  • Claims Management Advocacy
  • Coordination of Coverages

WorkersÂ’ Compensation Claim Audit Services

A SECURE, EFFICIENT, FAST PROCESS TO OBTAIN REFUNDS & REDUCE FUTURE PREMIUMS

PROGRAM HIGHLIGHTS

  • Corrects Claim Data, Payroll Classifications, and State Tax Charges Used to Calculate Policy Premiums
  • Fast Turnaround - Process is Completed in About 90 Days
  • Risk-Free Performance-Based Fees
  • No Disruption to Existing Relationships or Coverage
  • Client Paperwork Takes About 15 Minutes
 

QUALIFICATIONS

  • Client's Annual Workers' Comp Premium is $150,000 or more
  • Experience Modification Rating Factor has Increased
  • Operations Have Expanded into New States
  • Recently Left a Workers' Compensation Trust, Employee Leasing Relationship, or Self-Insured Fund
  • Changes in the Ownership of the Business and/or Changes to the Business Operation
  • Excessive Claims Activity
  • Mergers Within the Last Three Years
 

BENEFITS

  • In Most Cases, Workers' Comp Audits Help Clients:
    • Secure Premium Refunds
    • Reduce Future Premiums
  • All Services are Contingency Based - NO FEES Unless We Secure a Refund
  • Minimally Invasive Process - 10 Minutes for Client to Complete Paperwork
  • No Risk Involved - Process has NO Detrimental Effect with Carriers
  • All Work Handled by 'Best in Class' Risk Professionals
 

PHASE 1

Preparation & Documentation

  • Provide Authorization to Obtain Information Necessary to Complete the Audit
  • The Authorization Does Not Affect Client's Existing Coverage or Broker Relationship
  • Client Provides Information on the Current Policy along with any Deductibles, Dividend Plan, or Retrospective Adjustments
 

PHASE 2

Review Policy Rating Data

  • Review Claim Data Directly with the Insurance Carriers
  • Review Rating Classifications and Other Data Used to Calculate Premiums Directly with the Insurance Carriers
  • Submit Adjustments to National Rating Organizations
 

PHASE 3

Apply for Refunds & Adjustments for Future Policy Terms

  • Revised Experience Modification Information and Rating Data is Submitted to the Carriers
  • Final Refunds and Adjustments are Calculated
 

PHASE 4

Refunds & Final Adjustments Issued

  • Refunds are Issued
  • Fee Is Based Only on the Amount Received
  • Future Policies will Reflect the Corrected Data and Premiums will be Reduced
  • No Fee for Future Savings

WORKER'S COMP SAMPLE CLIENT RESULTS

INDUSTRY RESULTS
HEALTHCARE NURSING HOME & ASSISTED LIVING CENTERS
Client Operates 60 facilities in 9 states.
Workers' Comp Premium Refund:
$500,000.
HOSPITALITY HOTEL MANAGEMENT COMPANY
Client thought they had the appropriate safeguards in place and mods were correct.
Workers' Comp Premium Refund:
$300,000.
INVESTIGATION SERVICES SECURITY COMPANY
Client retained us to find out if they were overpaying for workers' compensation.
Workers' Comp Premium Refund:
$148,000.
COMMERCIAL SERVICES ELEVATOR REPAIR COMPANY
Client retained us to find out if their experience mods and premiums were correct.
Workers' Comp Premium Refund:
$147,000.
HEALTHCARE REHABILITATION CENTER
Workers' comp premiums were increasing and client needed to reduce costs.
Workers' Comp Premium Refund:
$135,000.
MEDICAL AMBULANCE/EMS COMPANY
Client is always concerned that their mods are correct, our audit lowered them.
Workers' Comp Premium Refund:
$124,000.
TRANSPORTATION FOOD DISTRIBUTOR
Client curious about costs, our audit reduced premiums and generated a refund.
Workers' Comp Premium Refund:
$106,000.
MANUFACTURING DAIRY PLANT
Client retained us to find out if they were overpaying for workers' compensation.
Workers' Comp Premium Refund:
$65,000.
WHOLESALE-RETAIL FRUIT & VEGETABLE WHOLESALER
Client wanted to conduct audit to see if they were overpaying their broker.
Workers' Comp Premium Refund:
$54,000.
CONSTRUCTION CEMENT COMPANY
Unhappy with their prior broker the client requested an experience mod review.
Workers' Comp Premium Refund:
$32,000.
TRANSPORTATION SCHOOL BUS COMPANY
Client retained us to find out if their experience mods and premiums were correct.
Workers' Comp Premium Refund:
$30,000.
EDUCATION SCHOOL DISTRICT
Looking to reduce operating costs, we conducted an experience mod review.
Workers' Comp Premium Refund:
$28,000.
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