Workers compensation (WC) is often the source of frustration for employers. This frustration may stem from its being:

• One of the only a few legally required coverages you MUST buy.
• Highly regulated, from rates and coverages to claims administration.
• A "political football", who's fortunes ebb and flow with the whims of today's prevailing politicians.
• Very difficult to budget and project future costs, simply due to dramatic market swings and the lack of credible insurance carriers.
• A "black hole" wherein you're regularly paying premiums often at multiples of actual claims paid.

While much about workers compensation seems beyond many employers' ability to control their own destiny, our goal at PrideMark-Everest (P-E) is to help each and every client implement the most cost effective program available, by bringing control to those areas where we can manage the process to positively influence outcomes and cost.

The definition of success varies for each client, but certainly cost effective programs include at least some of the cost containments elements listed below:

• Claims Management
• Safety & Loss Control
• Insurance carrier selection and relationships
• Understanding/implementation of available creative funding alternatives

At PrideMark-Everest we pride ourselves on demonstrating for each client "There is a Better Way".

Sometimes it seems as though workers compensation is a "blank check" for injured employees and unscrupulous doctors and lawyers. Every employer wants those truly injured at work to receive high quality and prompt medical attention, appropriate wage reimbursement and fair compensation for permanent disabilities. Making that happen often takes on a life of its own, negatively influenced by costs that spiral out of control in a system that, at times, seems programmed to fail. Fraud and abuse of the system must be recognized and dealt with effectively.

Our service staff and claims consultants serve as your ombudsman to help navigate the maze of regulations and bring control to those decisions impacting claims expenses. We work closely with claims adjusters to develop settlement strategies and keep claims on track for closure.

Fair and equitable adjudication of claims keeps costs under control and promotes cooperative relationships with your workforce. Communicating effectively (in English and/or Spanish) with your injured workers is critical to building rapport and trust, assuring successful outcomes and prompt return to work.

For clients with historically active claims frequency and severity, statistical analysis is often the key to providing direction and understanding of the drivers contributing to loss experience. We provide clients with the valued risk management tools necessary to design effective loss prevention and control targeted at their specific root causes of loss.

The best claim is the one that never occurs, thus our focus on loss prevention and safety. We provide our clients with in-house loss control services to augment those offered by our insurance carriers and to provide consultative client focused guidance. We are your safety advocate and partner.

All too often, carriers force upon clients their "safety of the day" mentality, when each client requires dedicated and individualized attention to address their unique needs and exposures. We provide clients a level of service and professionalism that is custom tailored to meet each client's needs and goals.

For any WC program to be successful, it's important to work with a broker that has the clout and market presence to match the idiosyncrasies of each client with the most appropriate and competitive insurance carrier.

Given the wild swings in the WC market, carriers coming and going, claims regulation confusion and seemingly general turmoil, clients need the assistance and guidance P-E affords with each our of over twenty WC insurance company partners. Clients require their broker have access ALL of the most financially stable and competitive carriers available. At P-E, we have access to more credible markets than any other broker today.

Funding alternatives? a WC term likely not known to most middle-market business owners familiar with only traditional guaranteed cost plans.

Is your company eligible to investigate more creative ways to manage your WC dollars and save money? Ask yourself the following questions:

• Are you one of many companies whose "better than class" loss experience seems to go unrewarded?
• Why are your premiums so high when you consistently run a loss ratio under 50%?
• Do you fondly remember the days of dividends? Or, do you simply feel you overpaid in the first place?
• Ever wonder how larger companies manage to keep their costs low?
• Are you willing to take some risk and share in the rewards of continued good loss experience?

Answering "yes" to any of these questions may mean you're a candidate to learn more about the funding alternatives that are available to select companies. Does your current broker offer you and thoroughly understand the following programs?

• Paid Loss and Incurred Retrospectively rated programs
• Deductibles
• Self-Insurance
• Group Self-Insurance

One meeting with our WC specialists will help you determine if you're prepared to truly manage and control your WC program via a more creative funding alternative, providing potentially dramatic premium savings over the long term.

If, after reviewing this information, you're realizing "There is a Better Way" to save money and control your workers compensation destiny, contact PrideMark-Everest Insurance Services, Inc. now to learn more about our full-service approach.