The Stakes: A social services agency with 315 employees was watching their Mod climb to 1.85. Management felt the system was “out of control.” They had no idea why premiums were soaring, only that they couldn’t stop it.
The Investigation: The Advisor collected three years of loss data and compared it to the Mod worksheets. The findings were shocking: 35 separate errors were found. Closed claims were listed with double their actual values. One claim was listed as open for $15,877 when it had actually closed for just $944.
The Breakthrough: The Advisor went to battle with the carriers to correct the historical record. They also instituted pre-employment medical exams to prevent future mismatches between employee physical abilities and job requirements.
The Result: The corrections drove the Mod down to 1.69. The client received a return premium check of more than $24,000.