Workers’ Comp & Related Costs Can Be Lower!
I believe the traditional approach to insurance purchasing is actually harmful to the decision maker and the organization they represent.
*Did you know that only 59% of your risk cost is in the policy premium? Why should the remaining 41% go unmanaged?
**Did you know that 80% of the workers’ comp Experience Modifications are either mismanaged or contain errors?
Workers’ Comp & your Workers’ Comp Experience Modification Factor should be thought of as a credit line….Workers’ Comp is interrelated with all other insurance programs as illustrated in the chart below.
If you would like to achieve:
•
Lower total costs
Lower total costs•Increase productivity
Increase productivity•Easier insurance management
Easier insurance management•Take advantage of the lost opportunities from
Take advantage of the lost opportunities from multiple insurance programsCall me so we can share our approach ---- do not wait until your renewal date because it will only delay the benefit of reduced costs and making insurance management easier.
* The national risk management organization RIMS has determined that insurance premiums only represent 59% of the cost costs of risks – so the bid price process most decision makers enter into fails to address the remaining 41%
** Frank Pennachio, WorkComp Advisory Group
Insurance
Matters
Tom Bone, Professional WorkComp Advisor, Insurance Broker
ISU Insurance Services, 2701 Del Paso Road, Suite 130
Sacramento, CA 95835License #0778092
License #0778092Phone 916-265-3837
Fax 916-993-6533
Mobile 925-285-6790
tbone@isugroup.com
Tune into “Insurance Matters” radio show hosted by Tom each Tuesday, 8:00 a.m. on Sacramento’s Money 105.5 FM, KSAC & the first Saturday of the month at 9:30 a.m. on 1380 AM, KTKZ. Listen here
