Success Stories
Property Casualty Success Stories
A large multi state nursing home account was experiencing high professional liability and general liability costs due to the market, their locations and their loss history.
Utilizing Security’s proprietary risk management audit process, our loss control department implemented an improved risk management program which greatly lowered this account's total cost of risk.
Impact – This insured has experienced reduced premiums, while increasing their limits and improving their terms. This account is now more marketable to insurers.
A large contractor had an employee suffer a large workers compensation claim. The employee had a serious hand injury which included loss of fingers on the right hand. Reserves were set above $400,000 and over $170,000 had already been paid.
As a result of Security Insurance’s quarterly claim review, a settlement was made with the employee for close to the amount already paid.
Impact – This insured was able to minimize the impact of this injury on their workers compensation experience modification and also on their dividend.
A large manufacturing account had a claim close out $17,500 lower than it was reported to the bureau for their workers compensation experience modification.
Through Security’s process to check experience modification, this fact was brought to the carrier’s attention. The carrier re-filed the report and the experience modification was recalculated using the lower figure.
Impact – The insured saved over $5,000 on their workers compensation premium.