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WRAMSCO’s
COMPREHENSIVE
CLAIM AUDITS
30% to 60%
over payment of claims is common!!
Whether it is an insurance company or third-party claims
administrator, Wramsco’s
comprehensive claim audits confirm that claims are being over paid by as much as
30 to 60%. This “claims processing” mentality is costing insureds millions of dollars
in additional premiums and affecting their/your bottom line.
Actual results
when using a Wramsco claim audit
Client A:
Manufacturing Company
Insurance: Workers’
Compensation – Guaranteed Cost
Facts:
Client believed improper claim handling caused experience modification
factor to increase significantly.
After
presenting Wramsco’s
claim audit jury awarded our client $1,800,000 plus $4,500,000 in punitive damages.
Client Savings:
$6,300,000
Client B:
Long Haul Trucker
Insurance: Workers’
Compensation (3 years of retrospective rating plans)
Facts:
Insurance company billed our client for $3,100,000 of additional
premium due to incurred loss retrospective adjustment.
Using a Wramsco claim audit and our expert testimony insurance company settled out of court for
a payment of only $225,000 and closed all retrospective policies.
Client Savings:
$2,875,000
Client C:
Contractor
Insurance: Hi-Lo
(loss sensitive similar to a retrospective rating plan)
Facts:
Insurance company billed our client for $1,100,000 of additional
premium due to incurred losses. Using Wramsco’s
claim
audit and expert testimony jury rescinded $1,100,000 additional premium and awarded
our client damages of $1,600,000.
Client Savings:
$2,700,000
630-960-1020
630-960-9725 (fax)
tlwalker@wramsco.com
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