Demolition company knocks down $36,000 on its annual
premium
Insured
The insured is a demolition company specializing in interior
non-structural demolition. It employs 100 workers.
Situation
The company, which performed work in three states—Maryland,
Virginia and the District of Columbia—was given a premium
that appeared to the client to be higher than usual.
Assessment
Certified WorkComp Advisors (CWCAs), upon reviewing all documents
provided by the state’s Injured Workers Insurance Fund
(IWIF), determined that although the company had separate payroll
premiums in three states, Maryland was charging a premium for
all the company’s workers, regardless of where they worked.
This led to unnecessary overcharges of $36,000.
Solution
The CWCAs collected all payroll and supporting documentation
from each state, including copies of each state’s policies
and job records from each project. After careful review, they
appealed to the audit department of the Injured Workers Insurance
Fund. The findings were revised in favor of the client.
Result
As a result of the work by the CWCAs, the company saw a $36,000
reduction in its annual premiums.
