The Benefits of Partnering with a Workers Comp Forensic Review Specialist

Workers’ compensation costs requires more than selecting appropriate coverage. The claims, payroll, classification, audit, credit, debits, and experience-rating information used to calculate premiums must also be accurate.

Because this information passes through multiple parties and systems, errors may remain undetected for years. A workers’ compensation forensic review specialist can provide an independent examination of the underlying data and help determine whether your premiums and experience modification factors were calculated correctly.

Here are four potential benefits of partnering with CIV Inc.

1. Independent Verification of Your Workers’ Compensation Data

CIV examines the information used to calculate your workers’ compensation premiums and experience modification factors. Depending on the scope of the engagement, the review may include:

• Experience rating worksheets

• Claims and loss information

• Employee classifications

• Payroll records

• Workers’ compensation policies

• Final premium audits

• Carrier and rating-bureau records

This detailed review can identify reporting discrepancies, calculation errors, misclassifications, and other issues that may not be apparent during a routine annual review.

CIV does not replace your insurance agent or broker. Our specialized services provide an additional level of verification that complements and supports their work.

2. More Accurate Experience Modification Factors

Your experience modification factor can significantly affect the cost of workers’ compensation insurance. It may also influence how underwriters, contractors, and prospective business partners evaluate your organization.

An experience mod is calculated using historical payroll and claims information. If that information is incomplete or inaccurate, the error may affect multiple modification periods and policy premiums.

CIV reviews the underlying data to identify potentially correctable discrepancies. When corrections are approved, a company may receive a more accurate experience modification factor and potentially lower current or future premiums.

3. Identification of Eligible Premium Recoveries

Incorrect payroll, classifications, claims information, audit calculations, or experience-rating data may result in premium overpayments.

Depending on the state, circumstances, and applicable filing deadlines, CIV may be able to help a client pursue:

• Premium refunds

• Policy credits

• Audit corrections

• Experience modification revisions

• Corrections to historical carrier or rating-bureau data

Identifying and correcting historical errors may also help prevent the same issues from affecting future policies.

4. Specialized Industry Experience

CIV works with businesses in industries that often have complex workers’ compensation exposures, including:

• Construction

• Trucking and transportation

• Staffing

• Hospitality

• Home health care

These businesses may have multiple classifications, changing payroll, high claim activity, multistate operations, subcontractor exposure, or other factors that complicate workers’ compensation reporting.

CIV’s specialized experience helps us focus on the information most likely to affect premium and experience-rating calculations while minimizing the amount of time required from the client’s internal team.

An Additional Resource for Your Business

A forensic review does not assume that your agent, controller, carrier, or internal team did something wrong. Workers’ compensation is a complex system involving multiple organizations, records, and reporting requirements. Even when everyone performs their responsibilities carefully, mistakes can occur.

CIV provides an independent review to verify the information, document potential discrepancies, and assist in pursuing eligible corrections. This allows your employees and insurance professionals to remain focused on their primary responsibilities.

Take a Closer Look at Your Workers’ Compensation Costs

Partnering with CIV Inc. can help your business better understand the information driving its workers’ compensation costs. When correctable issues are identified, the review may lead to more accurate experience modification factors, eligible premium recoveries, and improved information for future insurance decisions.

CIV does not sell insurance or place coverage. We work solely as an independent forensic-review specialist, complementing the efforts of your existing insurance agent or broker.

Could inaccurate information be affecting your workers’ compensation premiums? Contact CIV to schedule a confidential preliminary review.

Results vary. Corrections, refunds, credits, and premium reductions are not guaranteed and depend on the facts of each case, applicable regulations, policy terms, filing deadlines, and carrier or rating-bureau determinations.