1. Workers’ Compensation Program Provides
Client Three Year Savings of $1.4 Million
Annual Revenue: $30,000,000
Number of Employees: 1,500
Entity Structure: Corporation
Industry: Health Care
Ownership Structure: Privately Held
Geographical Footprint: State
Client Profile
Problem
The client is a leading provider of home health in their state. After an introduction
by our colleague in benefits, we met with the provider to discuss its property &
casualty needs. During the meeting, we discovered they had no deductible aggregate
(capping deductible costs), making their financial exposure unlimited and significantly
hampering their ability to budget.
Solution
We provided a comprehensive coverage audit and offered sophisticated alternatives
to their insurance structure. On their workers’ compensation coverage, we included
a deductible aggregate which allowed the client to better budget for costs. With
the cap the payout would be lower than what they had spent in the past, even if
they experience multiple claims. Our insurance program protected all their assets,
ultimately improving coverage and reducing total cost of risk.
Outcome
The workers’ compensation program changes alone brought a $1.4 million savings
over a three year period. The client also enhanced its coverage and significantly
lowered its total cost of risk.
www. cbiz.com/insurance
CBIZ Insurance Services, Inc.
provides a holistic approach to
managing your organization’s risk.
As a top 20 U.S. business broker,
we offer coverages from the best
carriers in the industry, which
means better options, value and
price for clients. Additionally,
we identify risk, analyze costs
and develop the most effective
strategies for transferring,
mitigating and managing risk.
Clients receive the resources of a
national broker and the personal
attention of a local office.
Reduce Expenses.
Increase Cash Flow.
Minimize Risk.
For more information about risk
management in the health care industry,
please contact:
Nelson Guzman
CBIZ Insurance SE
Healthcare President
404.791.8822
nguzman@cbiz.com
Workers’ Compensation Case Study: Health Care
Phil Leek
Vice President
404.401.2942
pleek@cbiz.com