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...ctive Workers Compensation Claim Audit
KEY ELEMENTS OF AN EFFECTIVE WORKERS COMPENSATION CLAIM AUDIT by George Kingston During a recent re..., specializes in the evaluation and auditing of workers' compensation, liability, and employee benefits claim administration programs. No reproduction without permission.

...rogram is “what codes are the best fit?” Governing codes are only one of the factors that affect a company’s ability to find affordable workers’ compensation insurance—but they can have a critical impact on the cost of coverage. T...rket, and you’ll gain a valuable competitive edge with the power of Pride Risk behind you.

... . For example, your compensation per employee number might appear high (and thus your spread per employee quite low) if you paid substantial bonuses at year-end to reduce your taxable income. Your revenue per employee might appear lower than average if you're in the process of staffing up today to meet future growth objectives. Your new commissions per producer figure might be lower than average if you have a stable of young producers. Having said this, these productivity metrics remain invaluable indications of your agency's overall health. Take a few minutes to ... Finances?4/30/2013 12:00:00 AM by CompleteMarkets Editor , Tom Doran This content has not been rated yet. To keep your agency finances sound, balance revenue generated (production) with benefits paid. In 1950, there were 16.5 workers paying in to the Social Security system for each benefit recipient. Today, there are only 3.2 workers per recipient. According to current projections, in 2029 there will be fewer than two workers per recipient. Current projections also indicate that the Social Security system will ... there are several easy-to-calculate productivity metrics to assist you in determining the relative health of your agency "system": Revenue per employee: Agency revenue divided by the number of full-time employees. This essentially represents the money being paid into the system on a per-employee basis. Compensation per employee: Total compensation paid (including all salaries, commissions, bonuses, health benefits, retirement contributions, and payroll tax withholdings) divided by agency employees. Compensation per employee represents the benefits being paid out of the system on a per-employee basis. Spread ...

...ce revenue generated (production) with benefits paid. In 1950, there were 16.5 workers paying in to the Social Security system for each benefit recipient. Today, there are only 3.2 wo...urance agencies have far more flexibility and incentive to improve their own ...

... who understand that growth and profit, not simple hard work, define the value... fullest in order to maximize productivity before staff additions are needed. CONCLUSION The ICP f...

...ge will govern the scope and the limits of the coverage provided. You may wish... XXX & Company Street Address City, State Phone: Fax:

...________________________________ ITEMS: 1. 19__ 19__ FORECAST 19__ Written premiums $________ $________ $______... F. We don't really get much benefit from it because we don't use if fully _______ G. I don't know how to use it _______ 17. Is the agency interfaced with any carriers? If so, which ones and...

...G SMART by Roy Phillips Agency profitability can start with well-trained, well-compensated custome...ding superior performance. Reprinted with permission from Texas Insuror.

...er forecasts predict the same dire situation. How might this affect your agenc...problem now will give you a huge competitive advantage tomorrow!

... Ways To Cut Costs And Increase Profits
FOUR WAYS TO CUT COSTS AND INCREASE PROFITS by Bill Schoeffler and Catherine Oak ...s, including valuations, mergers acquisitions, clusters, sales and marketing p...