Frequently Asked Questions

Why is Risk Managment Important?

  • Creates significant savings in claims and insurance costs
  • Mitigates current and future risks impacting claims cost
  • Creates a safety culture and awareness within your organization
  • Helps to protect your assets: your employees, your customers, you physical assets

Why Do I Need Claims Advocacy?

  • Maintain control over a claim from intake to closure
  • Provide the necessary attention to each of your files to achieve the most desirable outcome
  • Limit indemnity exposure through return to work and transitional duty
  • Communicate expectations with the insurance carrier

Why is My Experience Mod Important?

  • The mod factor represents either a credit or debit that is applied to your workers’ compensation premium
  • A mod factor greater than 1.0 is a debit mod, which means that your losses are worse than expected and a surcharge will be added to your premium
  • A mod factor less than 1.0 is a credit mod, which means losses are better than expected, resulting in a discounted premium

Why Choose RiskAware?

Experience is paramount when selecting a consultant. Our staff has extensive backgrounds in risk management, loss control, underwriting, sales, account management and claims administration processes. Throughout our careers we have planned, executed and managed programs for private companies, insurance carriers and insurance agencies. Our experience helps us develop and implement sound programs that are viewed as credible and effective for each member of your business community.