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| Group
Accounting services, rendered at year-end for each Lovell Safety Group,
ensure Group members that the reserves of every case accurately reflect
case and loss history. Our experienced professionals apply a proven
system of checks and balances that effectively protects employers’
interests while maximizing their year-end dividends.
A Group member’s experience rating can have a dramatic effect on its premium. The experience rating plan excludes the most recent year and is calculated on the prior three years’ experience. To ensure that our members are achieving the highest experience rating credit, Lovell evaluates the carrier’s reserves of major lost-time cases before submission to the New York Compensation Insurance Rating Board. If our evaluation reveals that there are excessive reserves, our staff negotiates to reduce the amount. This is often the result of case closings and the establishment of 15 – 8 relief. As a result of Lovell’s strong advocacy efforts on behalf of each Safety Group member, our clients’ experience ratings, class code designations and ultimate Workers’ Compensation premiums are effectively managed, and take into account all valid, underlying data.
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About Our
Company | Our Products &
Services © Lovell Safety Management Co., LLC |