is your Work Comp plan correct?

• Workers’ Compensation Premium Audit

• Are you relying on your insurance company’s annual audit to protect you from over paying for workman’s compensation premiums? Think again!

• Their job is to determine the actual payrolls for the past policy year. The auditor is there to adjust your company’s estimated payroll to the actual payroll figures. The auditor is not there to locate overcharges.

• You need the perspective of an unbiased, independent review.• Our industry expert’s experience indicates that 75% of all employers have

overpaid or are currently overpaying on their Workers’ Compensation premium cost. With over seven hundred (700) different business classifications, there may be opportunity for a lower rated classification for your employees or operations. Rarely are classification codes challenged which allows for a significant opportunity for recovery.

• In addition, many of our workers’ compensation refund recoveries are a result of incorrectly calculated experience ratings which are rarely verified by the agent or workers’ compensation insurance carrier. In many cases, discounts promised in proposals are not applied on the final audit billing statements.

• We know where and how to obtain proprietary workers’ compensation premium information and cost saving rating plans which are not ordinarily disclosed to policyholders by the workers’ compensation insurance carriers. Last but not least, there is an inherent conflict between the agent or broker’s role to reduce premium costs and the commissions earned on workers ‘ compensation policies.

• OUR FEES ARE BASED SOLELY ON OUR PERFORMANCE AS A PERCENTAGE OF YOUR RECOVERED OVERCHAGES OR SAVINGS.

• Are you aware that there are incentives in the Federal Stimulus Bill to reward company’s that hires or replaces more than 20 employees a year?

• We will find these hidden benefits you’re currently missing.

How do we get started?It’s as easy as 1, 2, 3…

1. We try to make the review process as simple as possible by minimizing your time and effort. Our workers’ compensation review can be conducted easily through phone, fax, mail and e-mail. Our workers’ compensation review process is as follows:

2. You locate as much of the workers’ compensation policy information as you can from your files.

3. Execute and substitute the correct contact information on each Letter of Authority, copy the letters to your letterhead, sign each letter, and mail them with the policy information you’ve located on site. If you’ve had multiple insurance companies and/or agents over the past several years, we’ll need one for each company.

4. Once the initial information is received, we will contact you directly and assist you in obtaining the missing policy information. Once all the necessary information is received, we will conduct our review and provide our findings to you in a short period of time.

5. As the overcharges are found, we will prepare a written report documenting your overcharges and provide you with the necessary documentation needed to recover the workers’ compensation overcharges.

6. We review all aspects of your premium calculations including but not limited to Declaration Pages, Audit Billing Statements, Experience Rating Worksheet Calculations, Loss History Summaries, Auditor’s Worksheets, Premium Payments and Special Rating Plans.

OUR FEES ARE BASED SOLELY ON OUR PERFORMANCE AS A PERCENTAGE OF YOUR RECOVERED OVERCHAGES OR SAVINGS.

Frequently asked Questions

You’re actually selling insurance, aren’t you?We do not sell insurance. We verify that your current and previous insurance companies have not overcharged you.Why do we need your services when my agent already does that for us?Workers’ compensation isn’t all we do. It is virtually impossible for your agent to verify all the details involved in your premium calculations. For instance, often times agents do not receive copies of your experience rating worksheets or the auditor’s worksheets to review their accuracy. Without these items, it is impossible to verify if you were charged the correct premium.My company just performed an audit. Why do I need your services?Insurance companies perform an annual audit to determine the actual payrolls for the past policy year. The auditor is there to adjust your company’s estimated payroll to the actual payroll figures. The auditor is not there to locate overcharges.How will my agent handle the news that his/her work will be audited?Most agents recognize that what is good for the client is what matters. Most agents do not have the time or the resources to conduct the in-depth review that you will receive from us.I don’t have the time for another “project”. How much of my time will the audit take?Once all the policy information on site is gathered, we will prepare the necessary letters to your agent or insurance carrier requesting the missing information. If feasible, we will copy all information available in your files. The audit is conducted at our office. Our review requires minimal participation.What will my insurance company think?Insurance companies want to be sure that the rules and regulations as mandated by the Division of Insurance are followed. Our review will confirm the insurance carrier’s compliance with these rules and regulation.

Advocates For Savings / Thomas J. Tysl / 1701 W. Northwest Hwy Grapevine, Texas 76051

817.404.9011 / Fax 817.224.2924 / [email protected]