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118 * * * * Sections * Critical Risks * Risk Management * The Insurance Industry * Claims & The Law * Workers’ Comp Forum * Risk Insiders * Sector Focus * . * Risk Central * Power Broker * Risk Matrix * The Profession * Risk Scenarios * Risk All Stars * Teddy Award * Sponsored Content * Magazine * Digital Issue * Issue Archive * Subscribe * Conferences * Ergo * National Comp * Advertise * Subscribe * More * Award Applications * Newsletters * &BrandStudio * Privacy Policy * About R&I * Contact Us * Trending Stories * National Comp * Power Broker * Workers’ Comp Forum * Risk Matrix * Risk Central * The Profession * Sections * Critical Risks * Risk Management * The Insurance Industry * Claims & The Law * Workers’ Comp Forum * Risk Insiders * Sector Focus * . * Risk Central * Power Broker * Risk Matrix * The Profession * Risk Scenarios * Risk All Stars * Teddy Award * Sponsored Content * Magazine * Digital Issue * Issue Archive * Subscribe * Conferences * Ergo * National Comp * Advertise * Subscribe * More * Award Applications * Newsletters * &BrandStudio * Privacy Policy * About R&I * Contact Us NEWSLETTERS The best of R&I and around the web, handpicked by our editors. SIGN UP. RISK CENTRAL White papers, service directory and conferences for the R&I community. GO TO RISK CENTRAL. DIGITAL EDITION Web replica of the print magazine. VIEW DIGITAL EDITION. Type your search term above * * * * ONE MONTH: THAT’S ALL IT TOOK FOR STAPLES’ KAREN DALTON TO PUT HER IDEAL WORKERS’ COMP PROGRAM INTO PLAY Staples’ Karen Dalton partnered with a new TPA to implement a claims management program in less than a month. By: Courtney DuChene | September 2, 2021 Topics: Profiles | Retail | Risk All Stars | Risk Management | September 2021 Issue | Workers' Comp | Workers' Comp Forum Karen Dalton, senior manager of risk management for Staples, describes herself as a “go-getter.” When she sees a problem in her company, she immediately wants to jump in and start addressing it. “If I see an issue, I want to tackle it, resolve it and move on,” Dalton said. Her persistence in problem solving is one of the qualities that made her a perfect fit to help her company Staples, and its subsidiary Essendant, overhaul its claims management program. The enterprise had been working with the same TPA for the workers’ compensation program for over a decade, but when it came time for renewal, Dalton found the offer she received was less than competitive. Not only that, but Staples was using various vendors from within its risk management department that made the program difficult to manage. A lack of integration and consistency made it difficult for both injured workers to use the system and for claims adjusters to intervene early on if a claim was derailing. Dalton wanted an integrated system that could use artificial intelligence to benchmark claims, and she wanted it now. “I didn’t want to wait that extra year and try to figure out if we could do something else, because from a cost perspective, it was just exorbitant,” Dalton said. Instead of waiting, Dalton partnered with CorVel and immediately got to work getting a new claims management program off the ground. She worked around vacations and holidays to ensure the program would be up and running in less than a month. The new system is the CorVel 24/7 advocacy call line, which employees can call to report a workplace injury at any time. The line is staffed by health care professionals who can help workers determine whether self-care, telehealth or in-person services are needed to treat the injury. In the event of a workers’ comp claim, the system immediately provides adjusters with all of the necessary medical records, and they work proactively with the injured worker to ensure a full recovery. Working with a new TPA has led to a 50-70% claim avoidance rate per month for the company, and 53% of calls to the advocacy line have been treated with basic first aid or self-care. The company now has a 73% claims closure rate and no litigation so far under the new system. “She knew what wasn’t working with her current program and was straight forward about where she wanted to see change. She has an ability to navigate through contracts and implementation planning with a thorough understanding of the claims and risk management process,” said Lisa Anastos, a CorVel account executive who has worked with Dalton. & -------------------------------------------------------------------------------- Every year, Risk & Insurance selects deserving candidates to become Risk All Stars. These are risk managers who, through their perseverance, passion and creativity, make a big difference to the stability of their organizations. See all the 2021 Risk All Star Winners here. Courtney DuChene is a freelance journalist based in Philadelphia. She can be reached at riskletters@theinstitutes.org. SHARE THIS ARTICLE! Click to Copy Share Tweet Share TRENDING STORIES WHY PROTECTING INSURERS’ DIGITAL ASSETS IS MORE IMPORTANT THAN EVER AS THE RUSSIA-UKRAINE CONFLICT CONTINUES April 12, 2022 WE TALK ABOUT RANSOMWARE ALL THE TIME. SO WHAT DO WE ACTUALLY DO WHEN A HACKER HAS OUR DATA? March 27, 2022 NFTS ARE DISRUPTING FINE ARTS: HERE’S WHAT RISK PROFESSIONALS SHOULD KNOW February 22, 2022 RETURN TO THE SKIES: 4 AVIATION RISK AREAS TO REVIEW AS WE RETURN TO PRE-PANDEMIC FLIGHT LEVELS January 23, 2022 MORE FROM RISK & INSURANCE White Paper THE BEST DEFENSE AGAINST CATASTROPHIC CLAIMS IS PREPARATION Learn more about how having mitigation tools in place can lessen the blow of catastrophic claims. WHAT’S TAKING BIG SHIPS DOWN DESPITE A DECLINE IN GLOBAL MARINE LOSSES? ALLIANZ REPORT DIGS IN Even with fewer lost ships in 2021, big ships still sink, and crews want solutions to stop losses. Conference PIA VA/DC’S 85TH ANNUAL TRADE FAIR & CONVENTION Save the Date! Join us in-person June 29-30, 2022, at the Sheraton Oceanfront Hotel in Virginia Beach. COVID-19 DISRUPTED MANY ASPECTS OF LIFE. THE EDUCATION OF INJURED WORKERS’ CHILDREN SHOULDN’T BE ONE OF THEM COVID-19 impacted everything, including the quest to connect injured workers' kids with scholarship funds. Go to Homepage > SPONSORED CONTENT BY AMTRUST FINANCIAL THE SPECIALTY CUSTOMIZED INSURANCE SOLUTION TO MEET YOUR CLIENTS’ EVER-CHANGING NEEDS AmTrust Specialty Program provides a full suite of coverage, claims and loss control services for hard-to-insure and niche risks that can be tailored to your requirements. As key differentiators, its nationwide network and diversified approach enable it to cater to a broader range of industries and clients. By: AmTrust Financial | August 1, 2022 If your client operates in a highly specialized business or has particular needs that are often difficult to find affordable coverage within the traditional insurance market, it’s vital that you partner with a specialty insurance provider. This will enable your customers to secure the appropriate cover and limits required to protect them and mitigate against their specific risks. That’s essential, particularly during the current hard market where rates continue to rise and traditional insurers tighten terms and conditions or pull coverage altogether. One such solution is AmTrust Specialty Programs, a business unit of AmTrust Financial. It’s a one-stop-shop that also includes claims and risk management services and can be customized to match your client’s needs. With increasingly more business being channeled through managing general underwriters (MGUs), AmTrust Specialty Programs has turned its customized approach into a boon. By providing a deep and relevant product set, it can cater to the diverse needs of these fast-growing entities. Additionally, as a result of an influx of underwriting talent from insurance carriers into these MGUs, this has opened up more program opportunities. And that’s only going to continue as MGUs become increasingly sophisticated in its operations, data analytics, risk selection and pricing. “Many of these MGUs have realized that they need a carrier to complement their underwriting and distribution expertise to support their success – whether that’s on the systems, product, actuarial, pricing or the claims side,” said Kathleen Smith, SVP Chief Underwriting Officer for AmTrust Specialty Programs. “That’s where we come in. We’ve successfully built out all of these capabilities and more and have the experience of having worked closely with our MGUs to develop niche strategies that leverage the best from each entity.” PARTNERSHIP BUILDING Kathleen Smith, SVP Chief Underwriting Officer, AmTrust Specialty Programs AmTrust Specialty Programs partners with underwriting management firms that have best-in-class expertise and in-depth underwriting knowledge in a particular niche or industry segment. By partnering and approaching risk specific to the niche segment in a tailored way, AmTrust Specialty Programs helps support a solution that meets the insureds key needs and remains viable over the long-term. AmTrust Financial is a leading writer of workers’ compensation. It also provides a host of multiline and monoline coverages for small- to mid-sized accounts in a homogenous class or sector, including commercial auto, general liability, property and professional liability, including directors and officers and management liability. Each coverage is provided either through the admitted or non-admitted market, or both, based on the insured’s particular needs. AmTrust Specialty Programs can cater to multiple industries, including but not limited to law, aviation, delivery services, street contractors and tow operations. AmTrust Specialty Programs focus is also on alternative and traditional coverages, typically above $10 million in gross written premium. That aligns best with its underwriting strategy, and solution and design structure. Central to AmTrust Specialty Program’s successful underwriting strategy is maintaining a diversified specialty portfolio by product, geography, client base and distribution channel, particularly during these challenging economic and geopolitical times. It also hones in on the specialty, non-commodity part of the business, pursuing risks that require specialized underwriting. “That diversification really came into its own during the pandemic,” said Smith. “For example, exposure on the aviation side of our business went down because flights were restricted, while in other areas, such as trucking, it was going up.” CLAIMS SERVICES On the claims handling side, AmTrust has seasoned claims professionals on hand providing 24/7 help. It also runs a state-of-the-art paperless claims system and provides designated claims account managers who act as the point of contact for all claims-related matters. For AmTrust Specialty Programs, the claims service can be unbundled to a specialty operator if it is more appropriate for a particular niche. As far as loss control is concerned, AmTrust has a nationwide network of representatives who carry out safety inspections, site evaluations and provide loss prevention services. By leveraging its scale, it’s able to provide a broader range of services to more clients. Similar to claims service, AmTrust Specialty Programs loss control services can be unbundled to a specialty operator if needed. “The key advantage of being a nationwide operation is scale,” said Smith. “On a micro level, companies want to react quickly to new opportunities in new states, so we need to provide them with the services they need.” “On a macro level, we want to reach out to the best-in-class national insurance providers in a particular segment to partner with them in providing specialized coverage for their clients across the country,” said Smith. Another key strength is AmTrust’s technology capability. It offers rate, quote and issuance systems to its program partners to enable them to manage their businesses more efficiently. In addition, AmTrust has a team of experienced in-house programmers who provide customized software solutions to its MGU partners. Its software download capabilities also enable the company to deliver policy information electronically to agency management systems, while accepting data feeds from other systems into its database. By leveraging firms’ technology, AmTrust can provide an improved service for all. For instance, the insurer provides workers’ compensation to AAA Towing Service, which, in exchange, supplies telematics data, dispatch records and the like, to ensure a more robust risk control program and better analytics, risk selection and underwriting services. CUSTOMIZED PROGRAMS All of these services can be customized to meet the unique needs of clients. That includes everything from the underwriting and claims guidelines to risk control protocols. “We tailor our insurance product offering based on the needs of a particular market segment, whether driven by specialized coverage, risk management or claims,” said Smith. “We believe our tailored approach brings more to the end buyer than our competitors that take a more generalist approach.” “Our long-term commitment to the program segment, wide breadth of product, in-house systems and ability to bundle or unbundle services such as claims and loss control are differentiators in the marketplace,” shared Smith. For its distribution partners, AmTrust Specialty Programs uses unique admitted and non-admitted paper, all carrying the group financial rating and strength of AmTrust. Having supported the program marketplace business for more than 20 years, AmTrust Specialty Programs is a well-established, committed player, with several relationships spanning over +10 years. We have been fortunate to be taking advantage of market opportunities, growing by 50% overall in the last couple of years alone. AmTrust Financial currently has $24.8 billion in assets and $3.5 billion in GAAP surplus capital with an A- (Excellent) rating from AMBest. “At the end of the day, the client wants to deal with someone who is a specialist in their field and truly understands the ins and outs of their business,” said Smith. “That’s what we strive to do here every day at AmTrust: to ensure that we’re always going above and beyond to meet our clients ever-changing needs.” To learn more about AmTrust Specialty Programs offering, call Kathleen Smith at 860 571 2153, email Kathleen.smith@amtrustgroup.com or visit https://amtrustfinancial.com/insurance-products/specialty-programs. This article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with AmTrust Financial. The editorial staff of Risk & Insurance had no role in its preparation. AmTrust Financial began in 1998 with a commitment to innovation in small business insurance. Since, we’ve grown into a global property and casualty provider with a broad product offering. Our company has grown, but our commitment to innovation and service remain the same. SHARE THIS ARTICLE! Click to Copy Share Tweet Share MORE FROM RISK & INSURANCE Risk Matrix: Presented by Liberty Mutual Insurance 10 WAYS TODAY’S ENVIRONMENT IS ACCELERATING SPECIALTY RISKS Risks across the board are on the rise, accelerating specialty risk solutions to address their needs. 12 QUESTIONS FOR STEEL CITY RE’S NIR KOSSOVSKY, PART TWO Steel City Re co-founder Nir Kossovsky discusses the possibility that class action filings will increase after recent stock market volatility. 5 PEOPLE ON THE MOVE Mosaic welcomes new underwriting leaders, FM Global appoints new senior leadership and more in this edition of People on the Move. THE 8 TRAITS OF A HIGHLY EFFECTIVE RISK MANAGER, ACCORDING TO UNITED EDUCATOR’S CONSTANCE NEARY Establishing a well-run enterprise risk management (ERM) program helps strengthen the safety of your campus community and helps lower institutions’ risk exposure. Go to Homepage > RISK MATRIX: PRESENTED BY LIBERTY MUTUAL INSURANCE 10 WAYS SUPPLY CHAIN DISRUPTION HAS IMPACTED ASPECTS OF BUSINESS From individual sectors to the business world at large, supply chain issues stemming from the last few years have had a massive impact. By: R&I Editorial Team | July 12, 2022 The R&I Editorial Team can be reached at riskletters@theinstitutes.org. SHARE THIS ARTICLE! Click to Copy Share Tweet Share TRENDING STORIES WHY PROTECTING INSURERS’ DIGITAL ASSETS IS MORE IMPORTANT THAN EVER AS THE RUSSIA-UKRAINE CONFLICT CONTINUES April 12, 2022 WE TALK ABOUT RANSOMWARE ALL THE TIME. SO WHAT DO WE ACTUALLY DO WHEN A HACKER HAS OUR DATA? March 27, 2022 NFTS ARE DISRUPTING FINE ARTS: HERE’S WHAT RISK PROFESSIONALS SHOULD KNOW February 22, 2022 Sponsored Content by AmTrust Financial THE SPECIALTY CUSTOMIZED INSURANCE SOLUTION TO MEET YOUR CLIENTS’ EVER-CHANGING NEEDS August 1, 2022