The company was facing $2.2 million in open reserves across all its lines, although they were not directly responsible for all of them. Claims included a subcontractor who struck a woman with their vehicle, another took down the entire second story of a home, and two injured employees stemming from a car hitting them while parked.

The team at Knight-Dik carefully reviewed each claim. Due to lack of contracts, they had liability exposure on two of the claims. No fact checking or follow-up was being done to close and/or subrogate these claims.

Knight-Dik was able to have an attorney work with the insurance carrier to update all subcontractor agreements and certifications, as well as put in place umbrella coverage moving forward. The claims that could be subrogated were expedited.

As a result of its efforts, Knight-Dik was able to close two of the three claims immediately, as well as reduce the reserves, and lower the experience mod to 1.30 from its highest point 1.78. The company was able to reduce all lines of insurance by mid-year rate decreases, negotiated by Knight Dik, due to closing and/or reducing open claims.

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