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Policy Renewal – When We Usually Hear From Companies


We Usually Hear From Companies Just Before Or After Policy Renewal

The workers comp policy renewal date sparks much interest from most employers whether it is approaching or has just passed in the last few days or weeks.

Vector illustration Silver Shield Protection policy renewal Blue Dollar Sign Inside

This is a question that was posed to me at a recent conference – when do you hear from companies the most? Surprisingly, the 80/20 rule applies here.

  • 80% of the companies that contact us have just renewed or are going to renew their Workers Compensation policies within the next few days.
  • The above 80% that contact us after the policy renewal is when they question their premium audit.
  • 20% contact us at other times during their Work Comp policy year.

If you have just renewed a policy and we find errors in your Work Comp policies, your company would likely lose one year of refunds. There is a three-year “look-back” for premium recoveries. If we are contacted on January 15 on a January 1 renewal, the third year that is further in the past may be lost. We recently had a small trucking company lose the third year of refunds which were worth about $30,000 to the company.

Gold And Silver Coins Policy Renewal Picture
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The best time to contact us is three months before ( the earlier the better)  your policy expires. That gives us time to do a very thorough premium review. If you want us to do a reserve review, then we need to start three months after your policy renews.

Do not get me wrong, we are always glad to hear from companies that need our help with their Workers Compensation policies. We just hate to see a company miss out on a year or many years of recoverable funds, especially in this economy.

Next Up – How do Premium and Reserve reviews differ? (Hint – night and day difference)


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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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