I recently spoke with an attorney representing a client with a pretty big problem generated from adverse claims and the effect of those claims on their workers comp retro premium. She said it perfectly…”I wouldn’t suggest anyone have a work comp retro plan…unless they were a very sophisticated employer with experience using such programs…they just lead to trouble!” These are words of wisdom.
Retro plans are extremely complicated, claim sensitive plans developed and used as an alternative funding mechanism for workers compensation premiums. For some employers they make sense, for others they are nothing trouble which usually lead to some form of litigation. So as an employer if you are approached by a broker or agent suggesting you consider the use of a retro plan for workers compensation take a few minutes and visit our Retrospective Rating Plan page on our website to learn more information about these programs.
If you are an attorney and are seeking assistance in the form of Expert Witness or Litigation Support for your client experiencing a litigation problem with a retrospective rating plan be sure to contact us. Our experienced consultants can help with retro litigation problems.
We’ll have more details in the near future about retrospective rating plans so be sure to come back!
