| Masonry Contractor (Buffalo, MN) |
Remodeler (St. Louis Park, MN) |
Problem
Mod skyrocketed over 1.3 due to 2 main reasons. First, Injured employees
were tardy in reporting claims and receiving treatment from chiropractors
and doctors that were not occupational specialists. Secondly, emphasis
on safety and return to work programs were not communicated to employees
on a regular basis.
MN Comp Advisor Solution
Set up Med Clinic relationship with Buffalo clinic and their OCC/MED
specialists. Injured employees have new handbook they implemented
with the help of HR That Works and Bridgett Davis. This new handbook
emphasizes timely reporting, safety, returns to work, and also directs
them to the Buffalo clinic.
Result
Frequency and Severity have both been reduced. Incurred 1 claim with
a reserve of $2100 so far. They were averaging $50,000 a year in claims. |
Problem
No help or assistance from previous agent or carrier with claims,
safety programs or pricing. Mod skyrocketed to 1.44. Still had open
claim with reserve dating back to early 2003.
MN
Comp Advisor Solution
Communicated to new underwriter that they are eager to implement better
safety and return to work programs. Implemented those said programs.
Implemented monthly claims review. Implemented HR that works. Researched
mod forecast and communicated to new underwriter that mod will drop
significantly on next year’s renewal. Advised them to get the
open claim closed ASAP.
Result
Modified rate in their major code decreased from $17.13 to $14, thus
saving them $20,000 annually. Claims will be watched monthly and evaluation
date report will help in lowering future years’ mod. |
| Floor Covering Contractor (Oakdale, MN) |
Asphalt Contractor (Little Canada, MN) |
Problem
They were being charged a base rate of $16.50 with no communication
from agent to underwriter and thus, no schedule credit.
MN
Comp Advisor Solution
Implemented Safety and Return to Work programs. Implemented Union
Dispute Resolution Program. Communicated these changes to new underwriter.
Result
Base rate dropped to $10.17. Underwriter applied 25% schedule credit.
Underwriter also applied 2% Dispute Resolution credit. Their annual
work comp premium was decreased by 57%! |
Problem
Client was unaware that there was a cheaper class code available for
his line of work.
MN Comp Advisor Solution
On our audit review we discovered and made the case that contractor
should be in a different code. We communicated with underwriter and
head of auditing and they agreed.
Result
Client’s rate for predominant class code dropped 9% translating
into a $6,000 annual savings. |
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