100% Renewal Rate in Indiana Public School Workers’ Comp Program Reflects Effective Results

Formed in 2006, the Indiana School’s Educational Service Center (ISESC) Risk Management Program is a self-insured Trust designed to help public schools in the Hoosier state address volatile commercial Workers’ Compensation premiums and contain their costs. It is a reinsurance structure that allows individual school corporations to enter into the group without the required collateral for self-insurance, and protects them at the top end based on their size.

Current membership in ISESC includes 22 schools and two service centers. Caitlin Morgan, a nationally recognized managing general underwriter (MGU) and wholesale brokerage, established ISESC, and is proud to announce a 100% renewal rate among ISESC members for this year. The 100% renewal retention underscores the effectiveness of ISESC for its members in driving down and managing their Workers’ Comp costs.

How do ISESC members keep control of their comp costs?

First, as part of the risk management group, members eliminate any of the market swings that the traditional commercial lines market brings to Workers’ Comp premiums. In fact, ISESC has lower expenses than commercial insurance and historically lower than any national program administrator. Second, members have implemented a robust loss prevention program provided by Reed Environmental. With Reed Environmental, ISESC members have access to occupational health and safety consulting to proactively manage their operation risks. They receive tailored safety and health policy and procedure document preparation, site-specific process assessments, delivery of customized safety and health training programs, regulatory compliance auditing & benchmarking, mock OSHA inspections, help in minimizing the impact and cost of OSHA site visits, and much more.

In addition, a key component of ISESC in assisting public schools contain their Workers’ Compensation costs is the claims management they receive from TPA Brentwood Services Administration, Inc. (BSAI). When too many claims last too long, it drives up costs. The key is to take immediate action when a claim occurs, reporting it and effectively managing it from start to finish. BSAI proactively manages claims from the initial investigation, compensability determination and until the claim is settled and/or closed. In fact, its caseloads are generally below industry standards. BSAI will review the public schools’ procedures and treatment to make sure they are appropriate, manage the claim case to get workers returning to work as soon as they are rehabilitated and able, and provide prescription drug management, which accounts for between 10%-20% of Workers’ Comp medical costs.

The services provided by ISESC and the commitment on behalf of its membership to put safety first have made the program a success, with each and every member renewing for 2016. ISESC is available to appointed Indiana agents that write school business or markets to schools. If you would like to find out more about ISESC and how you can help your insureds manage their comp costs, please contact the professionals at Caitlin Morgan at 877.226.1027.