The Services We Provide:
1. Claims Reserves And File Handling Quality Audits
This function is important for controlling costs and to insure that any Letters Of Credit or other collateral you have put up against reserves are accurate.
2. Third Party Administrator Evaluation, Selection, and Auditing
A Third Party Administrator is the single largest factor that will affect your loss control program. The administrator must have a clear understanding of what types and which levels of claims that you want them to manage aggressively. They need to understand which types of trends require monitoring and they should provide you with monthly updates. Lastly the Third Party Administrator must have the resources and systems to handle multiple carriers as you change over time.
3. Insurance Processing Organizational Studies
Your largest expense on insurance is time! Whether it’s your Human Resource Department, Risk Management Department or the CFO directly, how you set up the reporting, monitoring and processing of insurance is important. We can provide you with the most efficient way to handle these crucial steps.
4. Workers Compensation Cost Containment Studies
Our staff works closely with the insurance company’s loss control and claims departments to identify trends or areas that may be contributing to your losses. Early implementation of loss control programs can result in a positive influence on workers’ compensation claims. The results will have a clear impact on your Experience Modification and may reduce the amount of any collateral attached to large deductible programs.
5. Risk Analysis Studies
We can provide statistical data on your industry by region of the country and where you are in comparison. We can supply loss trend information for exposures that may not have yet materialized in your operation so you can implement actions to prevent them. We can provide similar data on any new field you may consider entering. The information can provide you a snapshot of potential risks so you can adequately weigh entry into the new venture.
6. Self Insurance Feasibility Studies and Support
The decision to self-insure your risk involves several factors other than the pure cost/risk of loss. There are accounting, legal and tax issues that also need to be considered before deciding to self-insure.