Rate & Premium Reviews
Understanding your workers' compensation rates and premiums is the first step to managing them.
Workers' compensation rates are influenced by far more than an organization's individual claims experience. Classification, industry performance, workers' compensation policy and legislation, adjudication practices, economic conditions, and broader system costs can all influence what employers pay.
Dallas Mercer brings the depth of workers' compensation expertise needed to understand these factors, determine what is driving your rates, and identify where opportunities exist to improve performance or challenge what may be within your control.
Understanding What Drives Your Costs
Premium Experience Rating Analysis
Understand what you're paying—and why.
Review premium calculations, experience rating statements, and historical trends to identify the factors influencing rates.
Rate Classification Review
Make sure you're classified appropriately.
Review organizational operations and applicable WCB classifications to determine whether the employer is assigned to the appropriate rate group.
Rate & Cost Driver Analysis
Understand what is influencing your rate.
Assess employer-specific, industry, and broader workers' compensation system factors influencing premium and rate performance.
Historical Review
Look for issues and opportunities.
Review historical rating and claims information for anomalies, inaccuracies, or factors requiring further investigation.
Strategic Recommendations
Know what can be changed.
Develop practical recommendations to address controllable cost drivers and improve future workers' compensation performance.
Implementation & Monitoring
Turn insight into action.
Support implementation of recommendations and monitor results over time.
The Result: Organizations gain a clear understanding of what is driving their workers' compensation premiums, whether their classification and rate are appropriate, and where opportunities exist to improve future rate performance and control costs.
“Dallas Mercer... realized quickly that we were in the wrong rating group and it saved us hundreds of thousands of dollars immediately.”
— Maritime Pride Eggs