Track: Risk Management

Effective Management of Worker's Compensation Programs in the 21st Century

Wednesday, October 22, 2008
10:15 a.m. - 11:45 a.m.
Room: 501 ABC

The rules of the game have changed for companies engaged in managing and mitigating their exposure to workers compensation claims. Finance executives need to become more proactive in the management of the ever increasing medical component of workers compensation claims. This session will discuss how to design and administer an effective program to mitigate workers compensation expense exposure.

Speakers:

• Peter W. Shaw, CPA
  Chief Financial Officer
  Midwest Employers Casualty Company

• Bruce W. Hayden, CWCP
  Director - Specialty Markets
  BerkleyNet Underwriters

• William F. McMahon
  Risk Manager
  Fleetwood Enterprises

Objectives

• Determine risk transfer and financing alternatives for workers compensation, including first dollar, large deductible and self-insurance, then identify the risks and benefits of each
• Learn to counter direct and indirect cost drivers of the workers compensation program
• Understand how to have have a positive impact on the workers compensation program without interfering with the day to day operations of other departments.

Pre-Requisites

• Basic understanding of workers compensation insurance coverage options
• Interest in techniques used to mitigate workers compensation expense exposure

Take-Aways

• List of most important factors in determining the optimal workers compensation program
• List of major factors that the current cash flow benefits of self-insuring workers compensation

CPA Field of Study: MAS