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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

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PMC is a leader in Workers Comp Solutions

Author DavidMalloy , 5/9/2012

Small Business
PMC insurance group is a leader in finding workers compensation solutions for small business.  We have a dedicated group of experienced Small Business underwriters ready to partner with  you in finding solutions and markets for your clients.  We have structured the organization to be efficient in handling small business accounts, respond quickly and provide you with a knowledgable and friendly team. Below is a small sample of the classes that PMC can write.

 

For more information contact PMC Insurance Group today!

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

Why Workers Comp is Important

Author DavidMalloy , 4/27/2012
PMC Insurance GroupPMC insurance group is a leader in finding workers compensation solutions for all businesses.  We have a dedicated group of experienced Small and Large Business underwriters ready to partner with you in finding solutions and markets for your clients.  We have structured the organization to be efficient in handling  business accounts, respond quickly and provide you with a knowledgable and friendly team. Why do I need Worker's Compensation Insurance you ask, check out this video and see if it changes your mind.    http://youtu.be/EMZkR79YO1c 

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


Online Newsletters Available to You

Author DavidMalloy , 4/6/2012

Here are our Online Newsletters, please feel free to subscribe to any article of your choice for free!

PMC Insurance

Construction

These articles focus on workplace safety, insurance, and Workers Comp issues of interest to small and medium-size construction companies. Please let us know what topics you would like to see.

 


PMC Insurance

Risk Management

These articles focus  on Risk Management. Practical Tips for Business Owners and Managers.

 

PMC Insurance
Work Place Safety

For any business with employees! Special updates, and advice on holding down Workers Comp claims.      

Operating in the Continental US!

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

Email PMC | Visit our website


Getting Injured Workers Back Involves Morale, Limiting Cost

Author DavidMalloy , 2/24/2012
Ask the Workers' Comp Expert: Getting Injured Workers Back Involves Morale, Limiting Cost
by Robert G. Jones, Vice President, PMC Insurance Group

In today’s challenging economy, the insurance industry has found itself under increased pressure to help return injured workers back to the job while effectively managing costs, according to John Shilts, Oregon Department of Consumer and Business Services. Business owners are under pressure to increase worker productivity while operating with reduced workforces. Getting injured workers back on the job is critical to cost containment and key to addressing employee insecurity following work-related injuries.

Generally, direct costs associated with workplace injuries account for less than one third of total claim cost. Indirect costs, including lost productivity, replacement worker expense, additional training costs and management time, account for the larger portion of total claim cost. A significant percentage of injured workers who are out of work for extended periods never return to the job.

A meaningful economic opportunity exists for business owners to control the cost of workplace injuries through effective, multi-faceted return-to-work programs. Two undisputed ingredients are a willingness to change organizational culture and commitment to necessary resources for the long term. There is often a void in the management of workplace injuries. Business owners must fill the void and manage their return-to-work programs from within. Effective programs also keep injured workers connected emotionally and physically to their employer, often promoting faster recovery and contributing to improved morale.

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 for creating and implementing effective return-to-work programs.

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

Hiring Independent Contractors is Not Risk-Free

Author DavidMalloy , 2/22/2012
Ask the Workers' Comp Expert: Hiring Independent Contractors is Not Risk-Free
by Robert G. Jones, Vice President, PMC Insurance Group

In today’s challenging economy, business owners have turned to hiring independent contractors in lieu of adding traditional employees. Advantages might include: completion of specific, short-term assignments; obtaining unique, project specific skill sets; reduced costs for administration; and the avoidance of benefits, taxes and legal issues surrounding the hiring and firing of traditional employees.

However, there are risks associated with this practice. Legitimately hired contractors might win disability, workers’ compensation and medical insurance benefits if they were misclassified to avoid paying such benefits. A business owner could also be held responsible for paying all withholding taxes, plus interest, if the Internal Revenue Service finds employees have been misclassified as independent contractors. And, the IRS and other governmental agencies could impose additional financial penalties.

The number of worker class action lawsuits that claim employers misclassified employees as independent contractors rose 50 percent in 2010 to a record 300 or so, according to Garry Mathiason of Littler Mendelson, one of the nation’s largest employment and labor law firms. One reason is that using independent contractors has become common practice in construction, trucking and home health care.

The IRS created a list of 20 common law factors to determine whether a contractor is actually an employee. Under common law, a worker is an employee if the business owner (person for whom services are preformed) has the right to control and direct the way they work including when, where and how the work is done. It is important to understand the difference between the IRS definition of employee versus the definition under statutory workers’ compensation protection.

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 appropriate insurance protection when hiring independent contractors.

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

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