The Stakes: A plastics manufacturer was facing a financial cliff. Their Mod was already 1.35, and a new hike was about to push it to 1.685, adding $78,000 to their bill. Their average annual injury costs were over $200,000.
The Investigation: The Advisor found that the company had no set procedure for reporting injuries. Supervisors were untrained, leading to delays and confusion whenever an accident occurred.
The Breakthrough: The Advisor implemented a strict 14-point injury management plan. They then negotiated with the insurance carrier to bypass the state’s normal one-year lag time, arguing that the new protocols warranted an immediate rate reduction.
The Result: Claims dropped to zero lost time. Net claim costs fell from $213,000 to just $12,000. Instead of a $78,000 increase, the premium decreased by $52,000. Total Swing: $135,073.