keyboard_backspaceBack to main blog page

PMC Insurance Group

Read articles, watch webinars, training material for practically any topic in the insurance industry.

Search Results

Posts tagged with clients - clients

Learn How to Best Stay in Touch with Your Clients so You Can Develop Lasting Relationships

Author DMalloy , 9/6/2017
Fostering relationships with your clients is a must. When you stay in touch with your clients, you’re better able to build lasting business relationships. Creating relationships helps to personalize your interaction with clients, helping them to feel more like a person and less like a number. Help build relationships with these tips to stay connected.

Learn How to Best Stay in Touch with Your Clients so You Can Develop Lasting Relationships

Author DMalloy , 7/26/2017
Fostering relationships with your clients is a must. When you stay in touch with your clients, you’re better able to build lasting business relationships. Creating relationships helps to personalize your interaction with clients, helping them to feel more like a person and less like a number. Help build relationships with these tips to stay connected.

Ask the Workers' Comp Expert: Internal Investigations Can Reduce Claims, Costs

Author DavidMalloy , 6/4/2012
Ask the Workers' Comp Expert: Internal Investigations Can Reduce Claims, Costs
by Robert G. Jones, Vice President, PMC Insurance Group

Recent "Ask the Expert" columns addressed certain aspects of return-to-work programs. Today, we address strengths and flaws within a workers’ compensation program focusing on reducing the number of claims and overall cost.

The number of lost time claims is a key metric and should be reviewed at least annually. If this number exceeds 25 percent of total claims, further investigation is recommended. Another important metric is the number of claims that are litigated. If this number exceeds 20 percent of all claims, a comprehensive internal investigation is necessary. Business owners experiencing significant numbers of lost time and/or litigated claims need to examine the root cause(s) driving these adverse claims results.

The business owner should review the following as a part of an internal investigation:
  • Is the hiring process effective in screening prospective employees? Background checks and drug testing at minimum. 
  • Are supervisors trained and accountable to build high performing teams that integrate workplace safety into job duties? Personal responsibility and employee morale are key components. 
  • How quickly are workers’ compensation claims reported to the insurance company? Within 24 hours is the goal. 
  • Are accidents and incidents investigated with findings documented and acted upon? How the business owner responds is an important component of organizational culture. 
  • Is communication with injured employees consistent and supportive? The goal being an early and successful return to work. 
  • Are wellness programs integrated into work activity? Tracking and communicating results reinforces the business owner’s commitment to a safe and healthy work environment. 

PMC Insurance Group’s only business is workers’ compensation. Our insurance professionals have extensive experience helping IIABNY members expand their marketing capabilities by providing workers’ compensation solutions for their clients, including offering guidelines to help business owners reduce the number of claims and overall cost.

William Malloy Named President of WRM America Holding Company, William Fishlinger Continues as Chairman

Author DavidMalloy , 5/23/2012

From: ProgramBusiness.com
WRM America Holding Company, LLC (“WRM America”) is pleased to announce that effective immediately, William Malloy has been named President. Mr. Malloy will be responsible for the management of WRM America and its subsidiary companies. William Fishlinger, founder of WRM America, will continue as Chairman and will guide the company’s strategic initiatives.

“I am very pleased that Bill is joining WRM America. Bill has been an active Board member of our company, and I have come to know him personally. I cannot think of a better person to lead WRM America,” Mr. Fishlinger said. “Bill’s addition will allow me to spend more time with our clients and to focus on growing our company. I look forward to working with him in his new role.”

Mr. Malloy has extensive management experience in the insurance industry as both an underwriter and a broker. He spent more than a decade at AIG, where he held various executive roles both in the United States and Europe. From AIG, he joined Marsh Inc., where he held various leadership positions and ultimately served as President from 2004 to 2007. Mr. Malloy joined Aquiline Capital Partners, LLC in 2007 and became a board member of WRM America in 2008.

“I am very excited about joining WRM America and the future of our company,” Mr. Malloy said. “Over the course of 24 years, Bill and his team have built a company that produces strong, consistent results for our clients. I look forward to continuing WRM America’s success in delivering value-added services to our clients and partnering with Bill to build a leading specialty insurance service company.”

About WRM America Holding Company, LLC

WRM America Holding Company, LLC is a specialty lines property and casualty insurance and risk management holding company offering comprehensive solutions for public and private sector entities. WRM America serves its clients’ unique needs through its operating companies: Wright Risk Management, which manages the New York Schools Insurance Reciprocal (A.M. Best “A” (Excellent)), the New York Municipal Insurance Reciprocal (A.M. Best “A” (Excellent)), and the New York State Municipal Workers' Compensation Alliance; RMI Consulting; WRM America Indemnity Co. (A.M. Best “A-” (Excellent)); and Fidelity National Indemnity Insurance Company (A.M. Best “A-” (Excellent)). The company is headquartered in Uniondale, NY.

Operating in the Continental US!

Phone: 1-877-PMC-COMP| (781)-449-7744

Email PMC | Visit our website


Ask the Workers’ Comp Expert: NCCI to Change Experience Modification Formula

Author DavidMalloy , 5/8/2012
Ask the Workers’ Comp Expert: NCCI to Change Experience Modification Formula
by Robert G. Jones, Vice President, PMC Insurance Group

Typically, business owners paying $5,000 or more annually in workers’ compensation insurance premium qualify to be experience rated (some variations by state). The result is an insurance premium modification factor will be calculated annually for such businesses based upon individual three prior years’ payroll and loss history. This data is reported to the appropriate rating bureaus by the individual business owner’s past insurance companies.

In general, historical loss data for a particular business is compared to the average loss data for all similar businesses in its state of domicile. This comparison results in a debit or credit experience modification factor that is used to adjust the business owner’s annual workers’ compensation insurance premium. Most states use the National Council on Compensation Insurance to calculate experience modification factors for individual businesses. A few states, including New York, have their own separate workers’ compensation rating bureaus.

Effective January 2013, NCCI will implement a new formula for calculating experience modification factors. The key change in the formula is the increase in the loss per claim, from $5,000 currently to $15,000 in the new formula. Thus the size of losses per claim will have significantly greater impact on driving up the experience modification factors for business owners with large individual claims. (More information to come in the months ahead.)

PMC Insurance Group is IIABNY’s endorsed workers’ compensation specialist. Our insurance professionals have extensive experience helping IIABNY members expand their marketing capabilities by providing workers’ compensation solutions for their clients. Give Bob Jones a call at (440) 313-5002.  


 Operating in the Continental US!
 Phone: 1-877-PMC-COMP| (781)-449-7744
Email PMC | Visit our website

Thank you PMC Insurance Group!

Author DavidMalloy , 4/25/2012
PMC Insurance Group“In the past David has provided me quotes from several insurance companies though his company. He has always been very friendly, professional, and able to answer any coverage questions that I may have. Thank you David for your great service!" 
April 20, 201 Kimberley Bryon

  “David is a great person to work with when obtaining quotes. He is responsible and responds in a timely manner. I would recommend sending and working with David.” 
April 13, 2012 Melissa Arnold, CRIS, AIS, MLIS, Account Manager, Assurance

 “David has helped me place workers compensation business on several occasions. He is very thorough and everything is back on time. Thanks David.” 
April 13, 2012 Mike Christensen

  “I have worked with David on behalf of several clients in search of solutions for their business insurance needs. He has been very professional and I would highly recommend his services to those in need of insurance solutions.” 
April 13, 2012 Jason Bishop, Risk Manager, Corporate Risk Solutions  

Operating in the Continental US!

           Phone: 1-877-PMC-COMP| (781)-449-7744

Email PMC | Visit our website


Controlling Medical Costs

Author DavidMalloy , 4/11/2012
PMC Insurance Group Ask the Workers’ Comp Expert: Controlling Medical Costs
by Robert G. Jones, Vice President, PMC Insurance

Business owners continue to look for ways to contain and reduce expenses. Reducing workers’ compensation medical costs may be one overlooked area. The National Council on Compensation Insurance reports that medical services represent 60 percent of workers’ compensation claim costs. Historically, indemnity costs were the largest portion of claims.

To an extent, business owners can contain and reduce medical costs through prescription drug plans, medical provider networks and other proactive cost-containment measures. However, a key driver to lower claim costs is the absence of workers’ compensation claims. In past columns, we presented the business case for a zero injury workplace embedded within an organizational culture of safety and employee wellness.

A culture of safety and employee wellness is essential in sustaining a zero-injury work environment. That said, employees filing bogus workers’ compensation claims remain an enormously costly and challenging problem. Business owners must also take proactive measures to identify and aggressively dispute fraudulent claims. The key to Identifying them is consistent and ongoing communication with medical providers.

Containing and reducing workers’ comp medical costs is all about hiring the right employees. Drug screening, background checks, testing and accurate job descriptions help business owners avoid hiring employees with high claim risk potential.

PMC Insurance Group is IIABNY’s endorsed workers’ compensation specialist. Our insurance professionals have extensive experience helping IIABNY members expand their marketing capabilities by providing workers’ compensation solutions for their clients. Give Bob Jones a call at (440) 313-5002.  

Operating in the Continental US!

           Phone:  1-877-PMC-COMP | (781)-449-7744

Email PMC | Visit our website


Impact of an Aging Workforce on Costs

Author DavidMalloy , 4/9/2012
PMC Insurance GroupAsk the Workers’ Comp Expert: Impact of an Aging Workforce on Costs
by Robert G. Jones, Vice President, PMC Insurance

Much has been written and speculated about the impact of older workers and the presumed increased cost of workers’ compensation. The numbers of jobs held by baby boomers will more than double in the period from 1995 to 2020, due in part to older workers postponing retirement.

According to the National Council on Compensation Insurance, while the loss costs are higher for older workers due to the severity of their claims, those costs tend to be offset by higher premiums resulting from higher wages earned by older workers. Also, older workers file fewer claims than younger workers, which tend to offset their higher claim costs.

Research indicates that workers age 35 to 64 appear to have similar loss costs per worker. On the indemnity side, higher wages paid to older workers drive higher costs. For medical costs, older workers may require more treatments per claim, which drives total costs.

NCCI research indicates that frequency has fallen across all age groups, and differences in frequency by age have narrowed. Occupational mix does not present a material impact on frequency as in general workplaces keep getting safer for all occupations. Of note, the generation following baby boomers in the workplace is now proportionally a larger group. Currently, the impact of an aging workforce on higher loss costs is less than conventional wisdom had predicted.

PMC Insurance Group is IIABNY’s endorsed workers’ compensation specialist. Our insurance professionals have extensive experience helping IIABNY members expand their marketing capabilities by providing workers’ compensation solutions for their clients. Give us a call at (440) 313-5002.  

Operating in the Continental US!

           Phone:  1-877-PMC-COMP | (781)-449-7744

Email PMC | Visit our website


See What Our Satisfied Customers Had To Say About PMC Insurance Group

Author DavidMalloy , 3/26/2012

PMC Insurance Group

We pride ourselves on what our satisfied clients have to say

“I called PMC to see if they had a market for a large contractor and if they could turn it around in a couple of days. I had previously sent the account to one of my other markets and they kept putting me off. Then, at the last minute told me they didn’t have enough time to offer a quote. This seemed to be an excuse they were using not to write the account or assist our agency. Totally frustrated, I sent a submission to PMC. Because of their knowledge and relationship with the same carrier, they were able to get me a quote in 2 days and I closed the deal. They have a history with our agency of getting the job done when we really need it.” -Mary A. Arola, 

Alper Services LLC, Chicago, IL

   

“I am very impressed with the level of service PMC provides my staff here at Charles River Insurance Brokerage, Inc. Their expediting of accounts has been noticed by me and my staff, but most importantly our clients! I hope they keep up the good work and we look forward to working with them more.” - Gerry Kennedy, Charles River Insurance Brokerage, Framingham, MA  

Call us today and put our expertise to work for you!

PMC Insurance Group (P) 877-PMC-COMP (P) 781-449-7744 (F) 781-449-7889
www.pmcinsurance.com info@pmcinsurance.com

1

To contact us, and for more information, please visit our CompleteMarkets storefront.

Internal Investigations Can Reduce Claims, Costs

Author DavidMalloy , 3/19/2012
Ask the Workers' Comp Expert: Internal Investigations Can Reduce Claims, Costs
by Robert G. Jones, Vice President, PMC Insurance Group Recent

PMC Insurance Group"Ask the Expert" columns addressed certain aspects of return-to-work programs. Today, we address strengths and flaws within a workers’ compensation program focusing on reducing the number of claims and overall cost.

The number of lost time claims is a key metric and should be reviewed at least annually. If this number exceeds 25 percent of total claims, further investigation is recommended. Another important metric is the number of claims that are litigated. If this number exceeds 20 percent of all claims, a comprehensive internal investigation is necessary. Business owners experiencing significant numbers of lost time and/or litigated claims need to examine the root cause(s) driving these adverse claims results.

The business owner should review the following as a part of an internal investigation:

  • Is the hiring process effective in screening prospective employees? Background checks and drug testing at minimum.
  • Are supervisors trained and accountable to build high performing teams that integrate workplace safety into job duties? Personal responsibility and employee morale are key components.
  • How quickly are workers’ compensation claims reported to the insurance company? Within 24 hours is the goal.
  • Are accidents and incidents investigated with findings documented and acted upon? How the business owner responds is an important component of organizational culture.
  • Is communication with injured employees consistent and supportive? The goal being an early and successful return to work.
  • Are wellness programs integrated into work activity? Tracking and communicating results reinforces the business owner’s commitment to a safe and healthy work environment.

PMC Insurance Group’s only business is workers’ compensation. Our insurance professionals have extensive experience helping IIABNY members expand their marketing capabilities by providing workers’ compensation solutions for their clients, including offering guidelines  to help business owners reduce the number of claims and overall cost.    

Call us today and put our expertise to work for you!

PMC Insurance Group (P) 877-PMC-COMP (P) 781-449-7744 (F) 781-449-7889
www.pmcinsurance.com info@pmcinsurance.com

1

 
To contact us, and for more information, please visit our CompleteMarkets storefront.

    • 1
    • 2