Issue
Two formal claim reviews are scheduled each year:
- Open reserves are evaluated prior to the 6 month loss valuation used to determine the next year’s Experience Modification Factor
- At the time of renewal to close out additional open claims in an effort to further reduce the Experience Modification Factor
Value
Formal claim reviews provide the opportunity to negotiate reduction of claim reserves, close claims, and discuss strategies of problem claims.
Testimonials
“On a bi-annual basis, WC claim reviews between Steel King and our carrier are scheduled. The Scheider Team, along with R&R’s WC Claim Consultant, Mike Geldreich will participate in the claim reviews. The claim reviews are timed to maximize our control of loss reserves in order to minimize the impact of losses on our Experience Modification Factor.”
Steel King Industries, Inc. - Mike Hamilton, Former Vice President - Finance
Client since 1996
“On a bi-annual basis, The Scheider Team and Mike will schedule WC claim reviews our carrier. Claims affecting our EMF are reviewed to either reduce open reserves and/or strategize closure to minimize A&B’s EMF. Time well spent with 2 knowledgeable professionals!”
A&B Process Systems - Bill Thompson, Safety Director
“I can think of several instances where The Scheider Team has lobbied on our behalf (almost always successfully) to eliminate or lower large reserves that insurance carriers have posted on open claims.”
Regional Enterprises, Inc. - Lew Whiteaker, Retired CFO
Client since 1999
