Magnifying Glass
Back to Sponsored Content

Buffalo Insurance Agency Offers Insight Into WC Premium Costs

13 Aug, 2009 WorkersCompensation.com

                               
BUFFALO, N.Y., Aug. 12 /PRNewswire/ -- In today's tenuous economic conditions, Buffalo insurance consultant Mark O'Brien of Lawley Insurance says, too few employers understand the control they can have over their workers compensation premium costs.

That control comes in the form of the experience rating modification factor, a number calculated using a company's payroll and loss experience. The mod factor is used to influence  the premiums a company pays for workers comp insurance. An average mod is 1.0, but “a company needs to know – and have a plan for reaching - its minimum mod,” says O'Brien. The minimum mod varies based on a company's industry and payroll, but any company can eventually reach the minimum through excellent practices in loss control and prevention.

With the help of a web-based service called WorkCompEdge, Lawley helps companies identify their minimum mod and analyze their mod to gain insight into loss trends. The agency helps clients understand how issues such as diligent hiring practices will decrease claim frequency, how an injury management coordinator will improve outcomes of injuries that occur, how to prepare for a premium audit, and much more. Clients receive a custom plan that incorporates these elements and enables them to gain control over their experience modification. Interested employers can contact O'Brien at 716-849-1504 to learn more.

About the Companies

Founded in 1945, Lawley is a dynamic independent regional firm of insurance professionals specializing in property and casualty, employee benefits, and risk management consulting. With seven offices in New York State and two in New Jersey, the agency focuses on business insurance, personal insurance, and specialty lines and is the 72nd largest independent insurance agency in the country.

Tennessee-based Specific Software Solutions (http://www.specificsoftware.com) and its affiliate, SIGMA Actuarial Consulting Group, serve risk management and insurance professionals in companies of all sizes across the nation with software products and casualty actuarial consulting. Founded in 1990, the company is best known for its flagship product ModMaster, which computes and analyzes the workers compensation experience rating modification factor. 

    • Read Also

    IOH Announces Appointment of Scott Strickland as Chief Operating Officer (COO) 

    SAN DIEGO, CA — July 1, 2024 — Institutes of Health (“IOH”), a leading transdisciplinary Workers’ Compensation treatment organization focused on patients suffering from complex and chronic conditions, is delighted to announce the appointment of […]
    Rising Medical Solutions Becomes Bronze Associate Partner of WorkCompCollege.com 

    Lakewood Ranch, FL (July 2, 2024) – WorkCompCollege.com, a division of Workers’ Compensation Educational Services, LLC, has announced a Bronze Associate Partnership with Rising Medical Solutions (Rising). Their mission to “make lives better” is consistent […]
    The Key Role of a Workers’ Comp Case Manager 

    Close attention through the claim lifecycle ensures the best claimant outcomes   In the world of workers’ compensation, where endless variables seem to be at play, Horizon Casualty Services, Inc., (HCS) acknowledges that having a clear […]

    About The Author

    • WorkersCompensation.com

    More by This Author

    Webinar: Building a Resilient Workforce

    Strategies for Workers’ Comp and Employee Well-being When: Aug. 7, 2 p.m. to 2:45 p.m. EDT Who: Dr. Claire Muselman from WorkersCompensation.com and Ian Colton from MedCall What: Join our webinar Building a Resilient Workforce, to […]
    IOH Announces Appointment of Scott Strickland as Chief Operating Officer (COO) 

    SAN DIEGO, CA — July 1, 2024 — Institutes of Health (“IOH”), a leading transdisciplinary Workers’ Compensation treatment organization focused on patients suffering from complex and chronic conditions, is delighted to announce the appointment of […]
    PhysNet Achieves Fifth Consecutive Year of SOC 2 Type II Certification

    Jacksonville, FL, June 3, 2024 – PhysNet proudly announces its attainment of SOC 2 Type II compliance for the fifth consecutive year, reinforcing its commitment to providing enterprise-level security for customer data within its cloud-based […]

    Read More

    IOH Announces Appointment of Scott Strickland as Chief Operating Officer (COO) 

    SAN DIEGO, CA — July 1, 2024 — Institutes of Health (“IOH”), a leading transdisciplinary Workers’ Compensation treatment organization focused on patients suffering from complex and chronic conditions, is delighted to announce the appointment of […]
    Rising Medical Solutions Becomes Bronze Associate Partner of WorkCompCollege.com 

    Lakewood Ranch, FL (July 2, 2024) – WorkCompCollege.com, a division of Workers’ Compensation Educational Services, LLC, has announced a Bronze Associate Partnership with Rising Medical Solutions (Rising). Their mission to “make lives better” is consistent […]
    The Key Role of a Workers’ Comp Case Manager 

    Close attention through the claim lifecycle ensures the best claimant outcomes   In the world of workers’ compensation, where endless variables seem to be at play, Horizon Casualty Services, Inc., (HCS) acknowledges that having a clear […]
    Ametros’ Melissa Coleman Honored by the IAIABC as a 2024 NextGen Winner

    Wilmington, Mass. (June 24, 2024) – The IAIABC has recognized Melissa Coleman as a 2024 NextGen Award Winner. Coleman is the Senior Vice President of Marketing for Ametros, which helps people manage their medical funds following workers’ […]
    PhysNet Achieves Fifth Consecutive Year of SOC 2 Type II Certification

    Jacksonville, FL, June 3, 2024 – PhysNet proudly announces its attainment of SOC 2 Type II compliance for the fifth consecutive year, reinforcing its commitment to providing enterprise-level security for customer data within its cloud-based […]
    WorkCompCollege.com Welcomes Alistair Ienstein as New Academic Innovator 

    June 20, 2024 – WorkCompCollege.com is thrilled to announce the appointment of Alistair Ienstein as its new Academic Innovator. Alistair, a unique and revolutionary AI presence, is poised to transform the learning experience for students […]

    Request a Demo

    To request a free demo of one of our products, please fill in this form. Our sales team will get back to you shortly.