A Connected Solution That Delivers Results
Workers’ compensation premiums are some of our clients largest general and administrative expenses each year. Every claim that your employees file is used to determine your workers’ compensation premiums. Combine that with the fact that 25 percent to 35 percent of all workers’ comp claims are fraudulent and you are left wondering, how do you protect your bottom line from fraud and abuse?
Our CompCPR Service model applies technology, intelligence, and a human touch throughout the workers’ compensation continuum. If you are looking for ways to improve your workers’ compensation premiums, we are here to help. We specialize in workers’ compensation for small businesses and we can utilize our CompCPR Service to improve the claims process for your company. While you may never want to imagine that your employees would file fraudulent claims, the reality is that for most businesses, this will occur at some point in time, if not repeatedly. Fraud is more than just upsetting, it directly impacts your ability to profit. Instead of sitting back and trusting that you will be safe from this risk or simply accepting that you will face high costs for workers’ comp, we empower our clients to take back control over this critical area of business.
If you are concerned about your company’s ability to catch fraudulent claims, we are here to help. Find out more about how CompCPR works and reach out today to try our intelligent solution.
Taking Control Of Workers’ Compensation
It is vital for any business to have proper workers’ comp coverage in place. In fact, in most states, holding a workers’ compensation policy is a legal requirement for a business to operate. However, the costs associated with workers’ comp can become a heavy burden for many small businesses. This burden is only increased every time an employee files another claim. Whether you are already straining under heavy costs due to a large number of workers’ comp claims at your company or you wish to take a proactive stance to prevent this from happening to you, our team at Brady Risk Management can help.
Our program, CompCPR, is an aggressive and effective claims oversight program operated on a collaborative basis with state and insurance company adjusters. This platform is designed to do all of the following:
- Hold Insurance Companies & Claims Adjusters accountable for the reserves they publish on your employees’ claims.
- Have licensed Workers Comp Adjusters review your claim files to advocate on your behalf
- Produce reserve rational worksheets, based on the facts of the files, to determine correct reserves and protect your interest
- Correct exaggerated and inflated reserves to protect your Experience Mod and Premiums
All of these actions work together to help lower your premiums and improve your ability to catch fraud as it occurs.
A Holistic Approach To Workers’ Compensation Policies
Here at Brady Risk Management, you will not only benefit from the outstanding CompCPR program we offer, but you will also benefit from our holistic approach to your workers’ compensation policies. We understand how important it is for your business to protect yourself against risks, both known and unknown. For this reason, we strive to pair you with the ideal policy for your company. Different businesses are faced with different risks, which is why we never offer a one-size-fits-all approach to workers’ comp.
Our goal is to drive down your premiums while also removing as many risks as possible. We will analyze your operations and determine where improvements can be made to better protect your business. From the construction industry, which faces a large number of workers’ compensation claims, to the office setting, where claims might be fewer, we can work with you to ensure your company is making the most out of your workers’ compensation insurance while lowering fraudulent claims.
We will also take the time to guide you in better practices to help you identify and prevent workers’ comp fraud. Some of the following are red flags to watch for when dealing with workers’ compensation claims:
- An accident occurred on a busy job site but there are no witnesses to the event.
- The employee who filed the claim has a long history of claims against your company.
- The injury took place a while ago and the employee delayed reporting it for no particular reason.
- The description of the injury lacks details.
- The description of the injury is not in line with the supposed injury that occurred.
- The employee’s story does not remain consistent when questioned.
- The claim took place after the employee had been laid off or demoted.
While there is no perfect methodology for catching fraudulent claims, there are ways to improve your company’s ability to weed out obvious cases of fraud. Our team can work with you to help your company identify areas where you are weak and, through the use of CompCPR, we can help you stay on top of claims as they occur.
Review, Challenge, And Correct
When you work with Brady Risk Management, you will benefit from the outstanding methodology of CompCPR. CompCPR will put you in control of your workers’ compensation premium. Now is the time to hold the insurance companies accountable for the impact they have on your financials. If you have been frustrated by the continually rising premiums your company pays for workers’ compensation we are here to help.
Not only will we work with you to improve in the area of workers’ compensation for small businesses, but we will also work with you to improve your risk management strategy as a whole. We can help you with everything from general liability insurance to commercial property insurance. Our team takes the time to ask all the “what ifs” for you so that you can focus on what you do best — running your business. From the home health care industry to hotels and resorts, we have decades of experience working with businesses who need a stronger risk management strategy in place. Reach out today and talk to our team about improving your coverage, lowering your risks, and saving your company money.