REDUCE OPERATING AND EMPLOYMENT EXPENSES
Workers’ Compensation Audit and Review
Through Arnold Standard’s program of CompControl, there are refunds available for the last three years. By conducting a thorough review of the Experience Rating, the Modification factor can be reduced generating refunds.
Arnold Standard’s program of CompControl addresses the following areas:
- Subrogation of third party liability reducing the amount charged to your experience rating.
- Auditing the value of prior claims which artificially inflate your Workers’ Compensation premium costs.
- Verify proper closure has been applied to related claims and ratings.
- Establish the correct payroll reporting for the policy year before the carrier’s audit is performed.
- Check accuracy of industrial classification codes with the appropriate payroll to determine true occupational job and relative premium costs.
- Ascertain type of Safety Training Program currently being conducted by approved safety specialist.
- Coordinate the various factors that impact the Experience Rating Modification calculation and apply for the appropriate adjustments.
We have found that most employers as well as their advisors, do not address these items in sufficient detail, which results in needless overpayments of this payroll related expense. We have saved in excess of one hundred thousand dollars annually for many individual clients. Since we are paid only from new monies found, this review is risk free!