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1.VERIFY your experience mod. Don't overpay.
Your worker was injured on the job. Your worker went out on workers' comp. They came back–or not. The claim was retired or maybe it's ongoing.
Now your insurance is sky high, because the medical and loss-of-wages bills went against your policy, and now they cost you.
Did you ever go and check the numbers that the carrier used? They're not always correct–take it from us. We've reviewed hundreds of policies and a substantial minority needed correction.
Business owners fall victim to extra charges for mistakes and errors caused when the insurance carrier neglects to properly update claims data.
Tuliptree offers a comprehensive review of your workers' compensation policy. Our work ensures you haven't overpaid. A successful revision of the carrier data will yield a refund or credit to your policy.
Who is it for?
New York State businesses prone to overcharges.
Small and medium-sized business that don't have a dedicated team verifying their workers' comp bills are often needlessly paying extra.
All businesses with employees or subcontractors operating in New York State are candidates for our policy review. Employees may be misclassified or subcontractors may have gotten picked up on your audit. Bottom line, your chances of being victim to an overcharge only increase with size of your workforce and scale of your operations.
And even if you like your insurance broker or agent, you should understand they are rarely specialists in workers’ comp policy revision. You need the help of an expert to get your costs under control.
What we examine.
Claims, class codes, payroll, audits, and experience modification rating data.
We review open claims, and closed claim data as we conduct an experience mod review (EMR). We scour your underwriting data for class code accuracy, payroll reconciliation with your internal records, and reverse-calculate audit information to test against carrier data.
For open claims, there is no global standard and we attack each claim on a case-by-case basis. That can mean coordinating with and sometimes putting pressure on your carrier to reduce the reserves or make a settlement offer, to get runaway costs under control. We critically analyze the data for each closed claim with the objective of effecting changes to past experience ratings.
Time frame, permissions and cost.
Results in 1-2 weeks, after authorization granted to access carrier data, and 30% contingency fee.
You can expect results in one to two weeks. In order to begin, we require a standard fee agreement and authorization form to be signed by the principal/director/owner.
Once the carrier accepts the authorization form, we proceed to scrape through your policy documents and data. When we complete the policy review in its totality, we provide to you documentation of our work including:
•Revisions we have made.
•Action items for your company.
•Resulting refund/credits from effected changes.
Our qualifications.
Consulting for Safety Groups of NYSIF.
With a combined 50+ years of successfully consulting for four separate Safety Group managers and eight total Safety Groups in the New York State Insurance Fund, the partners of Tuliptree have operated at the highest level of workers' comp claims and underwriting management.
We have directly served hundreds of businesses, employing thousands of employees. We draw on our extensive résumé to expertly evaluate and adjust your policy for the greatest savings, and ultimately put money back in your pocket.
