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Jacobs to Conduct Workshop on Cutting WorkComp Costs
Seminar shows businesses how to keep from paying more
than they should

MOSINEE, WI (JANUARY 19, 2006) — In her 25 years of assisting businesses with their insurance needs, Judy A. Jacobs has seen a lot of mistakes in Workers’ Compensation insurance policies.

“About 60 percent of the companies whose policies we’ve seen have had errors that led to companies paying more for Workers’ Compensation insurance than they are required to,” says Jacobs. “There are things these companies can do, though, to stop that. Cutting Workers’ Compensation cost is a fact; it’s not just hype.”

Jacobs, director of Comp-Save Solutions for Mosinee Insurance and a Certified WorkComp Advisor, will show employers and those involved in making WorkComp decisions how save money on Workers’ Compensation costs when she conducts a workshop on February 16, 2006 at the Best Western Claridge Motor Inn in Rhinelander titled "You CAN Cut Your Worker’s Comp Costs.” The workshop is co-sponsored by Mosinee Insurance Agency, Inc. and the Business News.

Jacobs says many of the errors she has seen in Workers’ Compensation policies revolve around what is known as the Experience Modification Factor, or experience mod. She says currently, any company that pays an annual premium of more than $5,750 has its premium calculated using an experience mod.

“The experience mods seem to be where the greatest number of mistakes occur,” says Jacobs. “Employees aren’t classified correctly, job descriptions aren’t updated, or other errors could exist and insurance company auditors don’t always catch these mistakes. The result is the company winds up paying more than it should for coverage. This could go on for years and not be discovered unless someone knows to look for it.”

For this reason, Jacobs says that business personnel involved in the WorkComp process at companies whose Workers’ Compensation insurance is figured through an experience modification factor will get the most out of the workshop as will anyone in a similar capacity working for a company that is approaching the $6,250 annual premium level that will trigger the experience mod calculation.

Among the many other topics Jacobs will cover during the
workshop are:
• The true makeup of premiums
• Understanding the audit process
• Identifying errors
• Reducing the mod rate
• Proactive claims management
• How a Certified WorkComp Advisor can help a business reduce its WorkComp costs.

The two-hour workshop runs from 8:30 a.m. to 10:30 a.m. A continental breakfast will precede the workshop, beginning at 8 a.m.

Anyone interested in registering for the workshop can do so by contacting Jacobs by email at judyj@mosineeins.com, download a faxable form from the Mosinee Insurance Workers’ Compensation Web site, www.comp-save.com, or call 715-693-2100.

Founded in 1934, Mosinee Insurance Agency, Inc., is a family-owned business that serves the personal and business insurance needs of clients throughout central Wisconsin. Located at 306 Water Street in Mosinee, Mosinee Insurance Agency, Inc., can be contacted at 715-693-2100 and can be found on the Web at www.mosineeins.com.

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