acucomp
- Claims / E Mod Audit Service
Through AcuComp, Upshaw offers you an
innovative program specializing in reducing excessive
workers’ compensation premiums
by lowering your experience modifier.
In many cases,
premiums can be reduced by 20 to 30% if reserve reductions
are properly managed. Through AcuComp, over one-third
of
Upshaw Insurance clients’ experience modifiers
have been reduced, resulting in dramatically lower
worker’s compensation premiums.
| Example |
A |
B |
C |
| Open Reserves |
$150,000 |
$100,000 |
$50,000 |
| Actual Paid |
$100,000 |
$100,000 |
$100,000 |
| Total Incurred (Open Reserves + Actual Paid) |
$250,000 |
$200,000 |
$150,000 |
| Divide by Expected Losses |
$175,000 |
$175,000 |
$175,000 |
| Experience Modifier* |
1.43 |
1.14 |
.86 |
|
*(Experience
Modifier = Total Incurred/Expected Losses) |
If AcuComp is not included in your present
workers comp program by your current agent, you are probably
paying more than you should.
DID
YOU KNOW: that workers compensation
premiums have increased 160% in the last 15 years?
That equates to $22 billion a year in the early 80s to over
$57 billion a year in the 90s.All indicators point
to
increased workers compensation expense in the decade ahead. |
|
