Insurance Brokers should know that the< National Council on Compensation Insurance ("NCCI") revised its webpage on employee leasing providing relevant and concise information on the broader Professional Employer Organizations ("PEO"). In the past its employee leasing page was limited. The name change from employee leasing to Professional Employer Organization provides a more focused approach. "NCCI's webpage revision provides a practitioner with a one-stop resource for information and greatly expedites topic research and a place to find the proper forms" stated Greg Walker from SMP Consulting Group.
The site can be found at NCCI.
SMP Consulting Group provides premium recovery audit services for workers compensation, PEO's and subrogation claims. For further information www.smpconsultinggrou.com.
"The Workers Compensation Audit Specialist for over 30 years!"
Showing posts with label SMP Consulting Group. Show all posts
Showing posts with label SMP Consulting Group. Show all posts
Thursday, April 24, 2014
Monday, April 14, 2014
Providing voluntary accident and disability reduces workers compensation claims
Lieberman Research Worldwide surveyed 600 small business for Aflac and concluded that companies who provide voluntary accident and disability insurance experience a reduction in workers compensation claims. (Insurance Business).
One may conclude from the survey results that an employee will file a claim with his/her accident and disability insurance provider rather then file a worker's compensation claim.
Why should employers pay attention?
One of the variables for calculating the worker's compensation premium is the calculation of the experience modification. The more claims a company submits the higher the "MOD rate". The higher the MOD rate the higher the premiums.
Claims that are filed through the voluntary accident and disability insurance provider do not go into the MOD calculation. The savings can be significant.
More importantly voluntary accident and disability insurance is generally paid by the employee. Small and medium size businesses should encourage their workforce to sign-up.
SMP Consulting Group is the leading provider of workers compensation audits finding misclassifications and erroneous calculations for its clients. We only work on a continent basis without upfront fees. We only share in the savings. For more information visit our website at www.smpconsultinggroup.com.
One may conclude from the survey results that an employee will file a claim with his/her accident and disability insurance provider rather then file a worker's compensation claim.
Why should employers pay attention?
One of the variables for calculating the worker's compensation premium is the calculation of the experience modification. The more claims a company submits the higher the "MOD rate". The higher the MOD rate the higher the premiums.
Claims that are filed through the voluntary accident and disability insurance provider do not go into the MOD calculation. The savings can be significant.
More importantly voluntary accident and disability insurance is generally paid by the employee. Small and medium size businesses should encourage their workforce to sign-up.
SMP Consulting Group is the leading provider of workers compensation audits finding misclassifications and erroneous calculations for its clients. We only work on a continent basis without upfront fees. We only share in the savings. For more information visit our website at www.smpconsultinggroup.com.
Wednesday, March 26, 2014
Headwind Capital Acquires Stake in SMP Consulting Group, The Leading
Nationwide Workers Comp Audit Firm
SMP, Nation’s Premier Workers’ Compensation Audit Firm, with Network of Locally Based Partners in Specialty Coverage, to Expand and Enhance Services and Products
SMP Consulting Group, the country’s leading workers’ compensation premium auditing firm as well as a
distributor of specialty insurance products through its nationwide network of partners, today announced a
significant capital investment in its capabilities by Headwind Capital. The announcement was made jointly by
Greg Walker, President and CEO of the privately held Headwind Capital, and Edward J. Kelly, Jr., President
and CEO of SMP.
Through this new relationship, SMP (smpconsultinggroup.com) will continue to expand its signature workers’ compensation premium recovery services to mid-sized companies that may be overpaying premiums due to erroneous employee classifications, outdated rates or other factors.
Additionally, the capital investment will enhance SMP’s Working Partners Network – which provides opportunities to middle-market brokers across the country to expand their offerings in their marketplaces with highly specialized coverage in specific industries. These industries include trucking, construction, health care, education, restaurants and nightclubs, parking garages, and municipal services.
“Through this new alliance with Headwind, SMP is uniquely positioned to help our clients recoup premium overpayments and reduce their costs moving forward, and back that up with alternatives and innovative options from their local insurance broker,” said Kelly.
“I have watched with interest the changes in the insurance space for a number of years, and have provided capital to grow a number of companies in the industry,” stated Walker. “As the economy continues to strengthen, employers will be looking closely at their insurance costs, and Headwind sees this as an opportunity to provide a valued service through SMP.”
Walker said he is also excited about SMP’s growing national Working Partners Network, which is comprised of select regional brokers. “Prior to investing I spoke with a number of Working Partners who are thrilled with SMP’s products and service offerings, and Working Partners brokers will continue to experience impressive growth in their business through their affiliation with SMP,” he noted.
SMP Consulting Group markets premium recovery and other cost-containment services to companies across the nation resulting in the retrieval of substantial dollars in overpayments made to insurance carriers and employee leasing companies (PEO). Services are provided on an exclusive basis to members of SMP’s nationwide broker network known as the Working Partners Network.
Headwind Capital, LLC, founded in 2008, is a privately held investment boutique that advises and invests in middle market companies in emerging growth markets. To date, Headwind Capital and its principals have structured, negotiated and closed over $3.0 billion in financing in fifteen different industries and within ten different countries.
Further information: gwalker@headwindcapital.com or Ekelly@smpconsultinggroup.com
Visit us on Twitter
SMP, Nation’s Premier Workers’ Compensation Audit Firm, with Network of Locally Based Partners in Specialty Coverage, to Expand and Enhance Services and Products
SMP Consulting Group, the country’s leading workers’ compensation premium auditing firm as well as a
distributor of specialty insurance products through its nationwide network of partners, today announced a
significant capital investment in its capabilities by Headwind Capital. The announcement was made jointly by
Greg Walker, President and CEO of the privately held Headwind Capital, and Edward J. Kelly, Jr., President
and CEO of SMP.
Through this new relationship, SMP (smpconsultinggroup.com) will continue to expand its signature workers’ compensation premium recovery services to mid-sized companies that may be overpaying premiums due to erroneous employee classifications, outdated rates or other factors.
Additionally, the capital investment will enhance SMP’s Working Partners Network – which provides opportunities to middle-market brokers across the country to expand their offerings in their marketplaces with highly specialized coverage in specific industries. These industries include trucking, construction, health care, education, restaurants and nightclubs, parking garages, and municipal services.
“Through this new alliance with Headwind, SMP is uniquely positioned to help our clients recoup premium overpayments and reduce their costs moving forward, and back that up with alternatives and innovative options from their local insurance broker,” said Kelly.
“I have watched with interest the changes in the insurance space for a number of years, and have provided capital to grow a number of companies in the industry,” stated Walker. “As the economy continues to strengthen, employers will be looking closely at their insurance costs, and Headwind sees this as an opportunity to provide a valued service through SMP.”
Walker said he is also excited about SMP’s growing national Working Partners Network, which is comprised of select regional brokers. “Prior to investing I spoke with a number of Working Partners who are thrilled with SMP’s products and service offerings, and Working Partners brokers will continue to experience impressive growth in their business through their affiliation with SMP,” he noted.
SMP Consulting Group markets premium recovery and other cost-containment services to companies across the nation resulting in the retrieval of substantial dollars in overpayments made to insurance carriers and employee leasing companies (PEO). Services are provided on an exclusive basis to members of SMP’s nationwide broker network known as the Working Partners Network.
Headwind Capital, LLC, founded in 2008, is a privately held investment boutique that advises and invests in middle market companies in emerging growth markets. To date, Headwind Capital and its principals have structured, negotiated and closed over $3.0 billion in financing in fifteen different industries and within ten different countries.
Further information: gwalker@headwindcapital.com or Ekelly@smpconsultinggroup.com
Visit us on Twitter
@Workercompaudit
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