Another WorkersComp Results Program Success Story:
Boston-Area Catering Company Enjoys 23% Decrease of Overall Annualized Premium for All Lines
A large catering company in the Boston-area with 28 employees and revenues of $6.5 million was experiencing high frequency on workers’ compensation claims less than $300. The company was also facing extremely high premiums on all other lines of insurance.
It was determined that the frequency in small claims activity had resulted in a 28% increase in workers’ comp premium before the Knight-Dik team met with the insured. It was also determined that high premiums on the other lines of insurance were a result of misleading data as well as the lack of a cohesive insurance program.
The Knight-Dik team and the client implemented the use of urgent care in order to mitigate small claims activity for cuts and bruises. In addition, the Knight-Dik team was able to identify a catering specialty program for all lines.
Because of these efforts and more, small claims activity has ceased and the insured’s overall annualized premium for all lines was decreased by 23%.
Are you a business owner? At Knight-Dik Insurance, we’ll work with you to design coverage that protects your business from a variety of risks, unique to you. For a free insurance premium analysis, simply fill out the form or call 800-286-6353.