WC Premium Recovery for Accounts in Collection
When an account goes into collection, attorneys, with little experience in premium calculations, take over. Sometimes this can result in the cancellation of your current policy. CRC addresses the collection status immediately to resolve the problem and protect the insured from egregious practices, while correcting premium errors.
A construction company was on the verge of going to the collection department over non-payment of a six-figure premium. We put a stop to the collection efforts until we could analyze the situation. We requested that the bureau process mod revisions on a “rush” basis that eliminated all but $157 of the balance, preserving the company’s voluntary market status.
A medical transportation company’s audit was taken out of the carrier’s premium dispute status and placed in collections. As a result, the company’s current policy was cancelled and they lost their license to do business. CRC reversed the situation within a week, renewing their license to do business and mitigated the unpaid balance that had been the cause of the policy’s cancellation.
A construction company was on the verge of going to collections for unpaid premiums assessed by an out of state fund, based on their revenues. CRC was able to demonstrate the actual exposures, using payroll records, and eliminated the entire balance.