Clients save $186,000 Advisor makes startling Experience Modification factor discoveries One of the competencies of a Certified WorkComp Advisor is the ability to identify and solve Workers’ Compensation problems, particularly those that are often overlooked by others. This detailed detective-type work illustrates the validity of the process developed by the Institute of WorkComp Professionals in terms of the significant pay off it can have for employers. One Advisor’s diary is a catalog of catastrophes that were averted in a variety of industries. It points the value that a properly trained Advisor brings to clients: • January: Helped a former client recover 52 Experience Mod points for three years due to a subrogation recovery of a 2001 claim that either wasn’t reported correctly or missed by the current insurance agent. Result: recovery of $17,000. • February: Assisted a client recover 13 Experience Mod points for three years due to a 1999 subrogation claim that was not reported correctly. Result: recovery of $14,000. • February: Assisted a client with claims that were coded and then reported incorrectly to NCCI by the carrier. This led to a recovery of 17 Experience Mod point for three years. Result: recovery of $8,000. • April: Assisted a client with 90% of their claims for two years that were coded and reported incorrectly to NCCI by the carrier. We recovered 41 Experience Mod points for two years. Result: Recovery of $37,000. • April: Assisted a client recover 40 Experience Mod points for three years due to errors in statistical coding to NCCI by the insurance company. Through additional consulting, the client has saved an additional $29,000 on classification corrections from the last audit. Results: a recovery of $46,000 plus a savings of another $29,000 or a total of $75,000. • May: Assisted a client with claims that were coded and reported incorrectly to NCCI by the insurance carrier. This led to an Experience Mod recovery of 29 points for two years. Results: a recovery of $7,000. • May: Assisted a client with claims that were coded and reported incorrectly to NCCI by the insurance company that resulted in a recovery of 26 Experience Mod point for four years. Result: Recovered $7,000 for the client. • June: Helped a client with claims that were improperly coded and reported to NCCI by the insurance carrier and recovered 12 Experience Mod points in two years. Result: $7,000 recovered. There will be addition premium savings in the third year. • August: Assisted a client with claims which were reported incorrectly by the carrier and recovered 80 Experience Mod points in three years. Result: recovered $28,000. Advisors know the importance of verifying Workers’ Compensation data. As these accounts indicate, it makes a difference to clients having an Advisor who takes the necessary time to make sure the records are correct.