Another WorkersComp Results Program Success Story:

North Shore Construction Company Shaves $18,000 From Annualized Premium

Situation

A large construction company located on the North Shore with 58 employees and annual revenues of $8 million was experiencing high insurance premiums due to a lack of classifications as well as an increasing MOD factor from frequent small claims activity.

Assessment

It was determined that a lack of job descriptions and clarifications was resulting in lump sum payrolls being assigned to the highest rated code on the policy. In addition, the MOD was also projected to increase due to the small claims activity for the next policy period.

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Solution

The team at Knight-Dik was able to develop detailed job descriptions and separation of duties to properly classify all employees in payroll to the appropriate class codes. Knight-Dik also worked to establish relationships with local medical care providers to slow small claims activity.

Result

Because of the efforts of Knight-Dik, the insured annualized premium was dropped approximately $18,000. Along with the premium savings, the increasing MOD was halted in place.