A strategic work comp program that is top shelf!

CompShield is a strategic workers compensation plan that concentrates on safety and company culture to help reduce the costs associated with workers compensation. CompShield is a high touch program that solves the issues surrounding workers compensation in the cannabis industry. The CompShield approach is the key to finding the best markets available while helping you develop a company culture that protects you most valuable asset…your employees.

Step 1  Marketing & Program Design

 Top Shelf Market Access

The best risk mitigation plans starts with finding a team of proficient partners that understand your risks and have market access to insurance providers.  Stratton Agency excels in insurance product placement.

  Program Design Consultation

The vast majority of Workers Compensation placements are Guaranteed Cost, which means a fixed rate is applied at the start of the policy. The final premium is determined by audited payroll. This type of program allows insureds a degree of certainty on the ultimate cost of their Workers’ Compensation.

However, for larger businesses that have the financial capacity to retain risk (losses) a Deductible Plan may be in order. Per- claim deductibles can range from $10,000 to $500,000. The true advantages of a Deductible Plan is the potential for dramatically lowered cost and improved cash flow.

To determine if a Deductible Plan is appropriate a great deal of research is required. Stratton Agency can help with that process with strategies including Loss Forecasting and Collateral negotiation.

We can also consult on other risk financing methods such as Captives and Private Employer organizations (PEO’s).

  Determined Price Negotiation

No matter what direction a client takes with its program design, it needs an advocate to negotiate the “best deal.” All approaches are subject to a degree of negotiation. We promise our clients that we will act in the true spirit of the term “broker;” we work for the client.

  Classification Review

There are 1, 036 Workers Compensation classification codes used in California alone. Each class code has its own rate. It is important to make sure that your operations are matched correctly with proper class code. Mistakes do happen and it is our job to help you correct them.

In addition we can show you ways you may be able to segregate payroll to take advantage of a lower rate class.

Step 2  Safety & Risk Control Strategies

 The Safety Solution

At the core of any well designed Workers’ Compensation program is a culture of safe practice, practical solutions to risk, and effective financial allocation to maximize the loss control and risk control dollars. Towards that goal, Stratton manages a combination of client resources, insurance carrier services, and its own solutions to preventing or limiting both the frequency and severity of loss. Creating a safe and accountable work culture is a crucial step towards covering long term cost.

Risk Control & Safety Services

  •  Optional On-Site Safety Survey
  • Employee Survey(s)
  • Basic Human Resource Audit
  • Access to “On-Line” Safety Training Library
  • Analysis of Claims Trends to identify causes and cures

Step 3  Claims Management and Control

 Claims Management & Control

In spite of a true safety culture and robust risk control program clients do have claims. Managing and keeping control of the claim once it occurs is crucial.

Stratton Agency provides the tools the client needs to accomplish this. You are not in this alone. We are here to help.

  •  Optional On-Site Safety Survey
  • Employee Survey(s)
  • Basic Human Resource Audit
  • Access to “On-Line” Safety Training Library
  • Analysis of Claims Trends to identify causes and cures

Experience Modification Management

The #1 cost control measure you have… Do you even know what it is?

One event in the service timeline many clients consider the single most important is the Unit Statistical Filing.  Every carrier is required to file the client’s loss data (paid and reserves) and audited payroll no later than 6 months after each policy expiration.

Once that data is filed there can be no changes except for a recovery via subrogation or a clerical error. Thus, it is crucial that every attempt be made to negotiate the loss situation claim by claim

Let’s be real… If you do not understand any of this, we need to talk.

On-going Claims Reviews

Published Modification Review

Forecast Ex-Mod’s