Brief Reflection on TRIA: 9/11

Thursday, September 17 2009 - , - 0 comments

After the World Trade Center Attacks, there were concerns about large losses due to potential future events caused by terrorism. Congress passed the Terrorism Risk Inusrance Act as a temporary solution which would allow private insurers and the federal government to share ceratain costs. The act was considered temporary which was gave the market time to adjust. Originally enacted on November 26, 2002, the act was exteneded an additional two years to expire on December 31, 2007. Under the Terrorism Risk Insurance Program Reauthorization Act, the expiration date was extended once again until December...

Pick Up All Payments

Friday, June 19 2009 - , , - 0 comments

In a recent report from the New York Times (full article here www.nytimes.com/2009/06/18/nyregion/18hardhat.html ) 3 illegal aliens were paid $3.85 million for injuries on the jobsite. Courts are not only awarding settlements to illegals, but awarding large sums. Premium auditors should take note and be sure to investigate records thoroughly, and ask pointed questions when performing an audit to make sure all labor is picked up. This is part of the intensive RLD Associates training program....

Temporary Furniture Store Wholesale

Friday, June 05 2009 - , , - 0 comments

The DCRB has added a new classification to their manual: 871 Employment Contractor – TEMPORARY FURNITURE STORE – WHOLESALE. This code will be applicable to temporary staff that is provided to customers with the classification 921.

Search Form To Aide Premium Auditors: Subcontractors

Friday, May 22 2009 - , , , - 0 comments

The Pennsylvania Department of Labor and Industry has created a search form within their website that can aide premium auditors when auditing a risk with subcontractors. The search is a policy coverage search . The user (or in this case the premium auditor) enters the name of the company in question, and the results will show the workers compensation policies for that particular company including the policy number, insurance carrier, effective dates and cancelations. Their website states that the information is pulled from databases maintained by the PCRB....

Employment Opportunities

Friday, January 30 2009 - , - 1 comments

In any one day, we receive many applications for job opportunities within RLD Associates. While we take the time to review each and every one, I would like to make suggestions that would help your application stand out from the rest. First, some background information. We operate in many states, and are ever expanding. So if we do not currently have work in the area you live, do not fret, as we may need you in the future. Also, like any company, education and experience in the industry is always preferred. However, we have a state of the art training program that can bring intelligent individuals...

Generating Additional Premium

Tuesday, September 30 2008 - , , , , - 3 comments

During this soft market many insurance carriers are searching for ways to increase underwriting profit while reducing expenses. This is most challenging to smaller mutual companies. Here at RLD we have been conducting telephone audits for many carriers since 1989 and the results have been impressive. A majority of the risks we audit are workers’ compensation and general liability based exposures. We obtain accurate and up to date gross sales and payroll information which in turn leads to additional premium generated on expired policies. In addition, current policies can be amended to reflect...

Workers Compensation Audit

Monday, September 29 2008 - , - 2 comments

Introduction: Workers Compensation Insurance is a necessary evil, trumped only by the associated annual audit. Since States require all businesses to have insurance for employees, they also set WC standards and prices, which is important to remember when blaming the Insurance Company for the high prices. There is no way to avoid an audit, so it is far better to be well prepared and informed than slightly complacent in the hands of a well trained auditor. The Auditors: Certain insurance companies employ their own auditors, in which case you will be dealing directly with the Insurance Carrier. Others...