Tag Archives: case study

Insurance Case Study: Recovering from Property Damage & Employee Injury

Society’s insurance case studies are real-life stories, explaining complex business situations from start to finish. These stories detail how business owners and insurance companies work together to overcome unique and unexpected challenges.

In this case study, an accident caused by a customer resulted in serious employee injuries and significant property damage.
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Case Study: Workers Compensation and Subrogation – Recovering Money and Lowering Insurance Premiums

Handling workers compensation claims is no easy task. Some cases are very complicated, as well as very expensive. And every state’s laws regarding the payment of workers compensation claims is different. To add to that challenge, each state’s laws also differ somewhat as to how an insurance company may recoup some or all of the benefits paid. It is sometimes possible to recover money through the process of subrogation when the work-related injury was the fault of an independent responsible third party. (more…)

Case Study: Protect Your Bottom Line with Prompt Claims Reporting

This entry is part 5 of 6 in the series Claims Reporting

The timing of when you choose to report an incident to your insurance carrier has a direct effect on the bottom line. This case study demonstrates how prompt claims reporting was key to recouping this property loss quickly and efficiently. (more…)

Case Study: Timely Reporting of Workers Compensation Claims

This entry is part 4 of 6 in the series Claims Reporting

Society Insurance is a servicing carrier in the Wisconsin Workers Compensation Insurance Pool. As such, we see extreme cases and injuries. We treat these businesses just like every other Society policyholder. This case study provides strong evidence for the importance of prompt claims reporting. (more…)

Case Study: Workers Compensation & Claims Handling

While all claims situations are serious, workers compensation claims are particularly harrowing because they involve the most valuable resource a business has: its people. The timely handling of a workers compensation claim can have a huge impact on the ultimate outcome. Cases that do not receive proper attention in a timely fashion — both from an indemnity perspective and a medical perspective — have the potential for a poor outcome. As such, any steps that can be taken to move the process along quickly are much more likely to create the best possible outcome.

On Oct. 25, 2007, Society Insurance received a First Report of Injury via fax. The form indicated that an employee had fallen into a 680-degree Fahrenheit tank on Oct. 24. (more…)

Case Study: Ensuring an Accurate Final Premium

This entry is part 2 of 4 in the series Premium Audit

The idea of an audit doesn’t appeal to most people.

Even the simple word “audit” has a negative connotation. After all, what good could possibly come out of an audit? Does the IRS ever give money back on an audit?

Fortunately, an insurance premium audit might be the one type of audit in this world that doesn’t necessarily mean doom and gloom. Instead, premium audits are designed to guarantee that business owners only pay the premium they truly owe rather than (more…)