Our Client’s Dilemma

Four months prior to the company’s insurance renewal, they hired RJF to assess and advise how to realign their risk management and insurance program to better meet ultimate cost budgets. Together we established three primary goals.

1. To place them – over a three-year period – in a position where they could leverage the marketplace better by demonstrating their dedication to controlling losses.
2. Help them lower their “Cost of Risk.”
3. Secure adequate or improved insurance coverage at competitive pricing to reduce their overall corporate risk exposure.

RJF’s Near-Term Solutions

RJF rebuilt their insurance program to reduce their risks and retooled their safety and risk management plans.

Over a 19 month period RJF:

• Reduced their workers’ compensation experience modification factor by 23%.
• Lowered their developed loss pick by $250,000.
• Reduced their measurable cost of risk by just under $400,000.
• Reduced insurance premiums by $300,000.

RJF’s Continuing Service

Now that we’ve aligned the insurance renewal with their corporate philosophy, we are working on a program redesign for the '08/'09 policy term. Our goal is to bring predictability to their balance sheet by staying completely focused on lowering their cost of risk. To accomplish this, our marketing, loss prevention, claims, human resources and wellness departments are maintaining a working partnership with our clients’ internal risk management programs.