150 Employee Company Faced Out-of-Control Workers’ Comp Claims
THE CLIENT
A California-based premier event rental company employs 150 people and manages an annual payroll of $8,500,000. The company incurs annual workers’ compensation premiums totaling $1,200,000, reflecting the scale and operational demands of its business.
THE SCENARIO
The client was plagued with high experience ratings due to multiple years of negative loss history combined with fraudulent claims and weak claims management. Simultaneously, the client was declined by standard insurance carriers, forcing them into the State Compensation Insurance Fund.
DISCOVERY
Insured had endured an inordinate amount of post termination claims during the layoffs of the pandemic. High reserves were driving the rates to a severely unsustainable rate.
SOLUTION
The company implemented operational loss controls and refined hiring practices, leveraging Bryson’s proprietary Risk Resolution Management Team to improve the processing of new losses. It also reviewed the clinics used for initial care, working directly with them to control medical treatment, minimize delays, and decrease the life of claims. Return-to-work programs were introduced to reduce indemnity payments, improving loss ratios and future experience ratings. Additionally, a thorough review of open claims from prior terms was conducted, ensuring proper reserves were set or claims were closed, and a re-rate was requested and completed for previously incorrect Unit Stat filings.
THE RESULTS
“Working with Bryson’s claims management team has been a game-changer for our company. Their expertise and dedication have helped us save a significant amount of money by effectively managing our claims. Their proactive approach and attention to detail have not only reduced our claim expenses, but also improved our overall risk management strategy. We are extremely grateful for their valuable guidance and highly recommend their services to any organization looking to save money and streamline their claims process.”
-Company CEO